Fears

Colorado has an opportunity to show the nation how the energy industry, regulators and environmental groups can work together, but the state’s administration is “exploiting our worst fears instead of providing leadership to bring us together,” a Denver-based natural resources attorney charged Wednesday.

Seeking to allay fears that natural gas as a fuel source might fall out of favor anytime soon, AGL Resources CEO John W. Somerhalder II told shareholders Wednesday that current energy market fundamentals are very favorable to natural gas now and for the foreseeable future, given its environmental and efficiency advantages.

After trading higher in Nymex’s overnight Access session, November natural gas on Tuesday continued to rebound from its recent dip. Fears surrounding continued shut-ins, tied together with concerns about the impending winter, pushed the prompt month higher on the day to settle at $13.519, up 54.4 cents from Monday.

Despite gas prices hovering near $11 currently and averaging $7.17/MMBtu so far this year (Henry Hub cash bidweek) mainly on fears of a supply shortage, the Potential Gas Committee’s latest report on the nation’s gas resources shows a total available gas resource of 1,308.3 Tcf, or nearly 70 years of gas supply produced near the current annual rate. The problem, according to the American Gas Association (AGA), is accessing that supply.

Increasing demands and roadblocks by aboriginal groups in Canada are contributing to fears the Mackenzie Valley Gas Pipeline Project may suffer the same fate of a similar Mackenzie project nearly 25 years ago, which was abandoned in the face of aboriginal rights claims.

Increasing demands and roadblocks by aboriginal groups in Canada are contributing to fears the Mackenzie Valley Gas Pipeline Project may suffer the same fate of a similar Mackenzie project nearly 25 years ago, which was abandoned in the face of aboriginal rights claims.

Boosted by the bullish combination of hurricane fears and Gulf-area production curtailments, the natural gas futures market surged higher early Tuesday on waves of commercial and local-trader buying. After gapping higher at the opening bell, the September contract shot to a new one-week high at $5.96 as all eyes were watching the development of Tropical Storm (TS) Bonnie in the Gulf of Mexico.

Natural gas prices are skyrocketing on supply fears because the industry has done a poor job convincing America that there really is an abundant domestic gas resource that can be developed without harming the environment, according to Questar CEO Keith Rattie, who spoke at the annual GasMart conference in Denver.

Natural gas prices are skyrocketing on supply fears because the industry has done a poor job convincing America that there really is an abundant domestic gas resource that can be developed without harming the environment, according to Questar CEO Keith Rattie, who spoke at the annual GasMart conference in Denver.