Fears

Authorities in Quebec have been monitoring environmental groups opposed to shale gas development in the province for the last two years on fears that their activities could become radicalized and violent, according to a report by La Presse, a French newspaper in Montreal.

A progressive political advocacy group said the government of British Columbia (BC) should cap annual natural gas production and end subsidies to the industry over fears that it is expanding too rapidly at the expense of air, water and power resources.

Natural gas drilling is facing pushback in Pennsylvania, Michigan and New York from some whose fears of energy development have been stoked by the BP plc well blowout and spill disaster in the Gulf of Mexico (GOM). And worries about hydraulic fracturing (fracing) well stimulation techniques aren’t going away either as a new anti-drilling film on the topic is now playing on big and small screens.

Central Gulf of Mexico (GOM) Lease Sale 208 went off as planned in New Orleans last Wednesday — despite earlier fears among some Republicans of a delay by the Obama administration — and the results of bidding were “good…not great,” said the Minerals Management Service’s (MMS) Lars Herbst, regional director for the GOM.

Central Gulf of Mexico (GOM) Lease Sale 208 went off as planned in New Orleans Wednesday — despite earlier fears among some Republicans of a delay by the Obama administration — and the results of bidding were “good…not great,” said the Minerals Management Service’s (MMS) Lars Herbst, regional director for the GOM.

The deteriorating U.S. economy and uncertainty of what lies ahead have prompted fears of a huge reduction in natural gas demand. However, energy analysts are making the case for both the bears and the bulls in 2009.

The deteriorating U.S. economy and uncertainty of what lies ahead have prompted fears of a huge reduction in natural gas demand. However, energy analysts are making the case for both bears and bulls in 2009.

Recession fears that once again knocked down Wall Street on Wednesday also put downward pressure on energy futures as November natural gas dropped 13.5 cents to $6.592 and November crude shaved $4.09 to close at $74.54/bbl.

Just two days after worries over Constellation Energy’s relationship with bankrupt Lehman Brothers Holdings Inc. and fears that it could lose its credit lines sparked a freefall in the electricity supplier Goliath’s stock price, it appears that the white knight to the rescue will be Berkshire Hathaway’s MidAmerican Energy Holdings Co., which has agreed to purchase all of the outstanding shares of Constellation Energy for $4.7 billion, or $26.50/share, cash.