Fueling

Natural gas is a clean domestic energy alternative to gasoline for fueling the nation’s private- and public-sector fleets, a former U.S. Department of Energy (DOE) head said during ceremonies in Sacramento, unveiling a new alternative transportation fuels report from the California Secure Transportation Energy Partnership (CalSTEP).

Natural gas is a clean domestic energy alternative to gasoline for fueling the nation’s private- and public-sector fleets, a former U.S. Department of Energy (DOE) head said during ceremonies in Sacramento, unveiling a new alternative transportation fuels report from the California Secure Transportation Energy Partnership (CalSTEP).

Fueling rumors that USX-Marathon Group may separate its steeland energy businesses and then sell a beefed up oil and gasbusiness, Houston subsidiary Marathon Oil put together a $500million deal to acquire two-year-old Pennaco Energy Inc., a companywhose key assets are tied to coalbed methane (CBM) gas productionin the Powder River Basin of northern Wyoming and southern Montana.

What its executives are calling a “significant rally” of Eastern coal prices could fuel an upswing in the wholesale market for natural gas-fired electricity beginning next year, according to Calpine Corp. officials responding to questions from financial analysts Thursday.

After spiking to a new, all-time high Tuesday, natural gas futures reversed lower Wednesday as spread- and options-related selling pressured March futures lower on their expiration day. March ended its tenure as prompt month at $9.133, down 44.4 cents for the session and $2.766 off its $11.899 high notched just 30 hours prior.

A Nor’easter dumped snow from D.C. to Boston yesterday, fuelingthe bullish momentum in the gas futures pit. It also forced Nymexto close up shop an hour early and plan for a one-hour delayedopening today.

Further fueling concerns that there may not be enough domesticgas supply to meet a 30 Tcf demand market down the road, a newstudy warns the industry likely will face a shortage of productionpersonnel to explore and drill for natural gas if the current trendtowards consolidation, divestiture and downsizing continues.

Further fueling concerns that there may not be enough domesticgas supply to meet a 30 Tcf demand market down the road, a newstudy warns the industry likely will face a shortage of productionpersonnel to explore and drill for natural gas if the current trendtowards consolidation, divestiture and downsizing continues.

Peoples Energy Corp. anticipates annual growth in earnings ofmore than 7% by 2002, about 1% above its competitors, with agreater share of earnings — at least 25% — coming fromdiversified businesses and less from its LDC segment, companyofficials said yesterday.