Flop

The Interior Department’s Minerals Management Service (MMS) can’t say for sure whether its program in which it takes oil and natural gas from producers in lieu of cash royalty payments has been a success or failure, said the General Accounting Office (GAO).

The Interior Department’s Minerals Management Service (MMS) can’t say for sure whether its program in which it takes oil and natural gas from producers in lieu of cash royalty payments has been a success or failure, said the General Accounting Office (GAO).

Pressured by the release of another in a string of bearish weather forecasts and in sympathy with losses seen in the nearby crude oil pit, natural gas futures plumbed new three-week lows Monday, as traders continued to liquidate longs acquired during the month of October. The December contract never recovered from its 7-cent gap-lower open and finished with a 19.2-cent loss at $2.733.

The same day that Avista Corp.’s utility affiliate filed arequest for a natural gas price adjustment with the Oregon PublicUtility Commission, the state’s largest provider, Portland GeneralElectric, rescinded its own request last week for a 17.1% rate hikethat would have taken effect next month.

The same day that Avista Corp.’s utility affiliate filed arequest for a natural gas price adjustment with the Oregon PublicUtility Commission, the state’s largest provider, Portland GeneralElectric, rescinded its own request for a 17.1% rate hike thatwould have taken effect next month.