Fuels

House Speaker Nancy Pelosi (D-CA), a major opponent of oil and natural gas production in the United States and advocate of green fuels, has called on Vice President Dick Cheney to use his “considerable influence” to get OPEC nations to increase their oil production during his trip to the Middle East.

Aspen Pipeline LP affiliate Odessa Fuels Marketing LLC has signed a definitive agreement with Tulsa-based Arena Resources Inc. to purchase natural gas from Arena’s Fuhrman Mascho properties in the Yates formation in Andrews County, TX. Aspen has also signed a definitive agreement with PSEG Texas LP subsidiary Odessa-Ector Power Partners LP to deliver Yates formation gas in a dedicated pipeline to the PSEG Texas 1,000 MW energy generation facility just outside Odessa, TX.

All economic energy sources should be pursued to meet growing demand, but fossil fuels — natural gas, oil and coal — will continue to play the predominant role well into this century because of their scale, reliability and affordability, the CEO of ExxonMobil Corp. said last week.

All economic energy sources should be pursued to meet growing demand, but fossil fuels — natural gas, oil and coal — will continue to play the predominant role well into this century because of their scale, reliability and affordability, the CEO of ExxonMobil Corp. said Monday.

The Senate Finance Committee Tuesday overwhelmingly passed an energy tax package that provides $28.5 billion in tax incentives for clean and alternative fuels, of which domestic oil and natural gas producers would pay more than $20 billion of the tab.

While infusing new funds for filling the Strategic Petroleum Reserve (SPR) and advancing nuclear, clean coal and renewable fuels, the Bush Administration made no apologies for cutting all oil and natural gas research and development dollars out of its fiscal 2008 energy budget request. Also dropped was funding for the office of a federal coordinator for the long-stalled Alaska natural gas pipeline project.

While infusing new funds for filling the Strategic Petroleum Reserve (SPR) and advancing nuclear, clean coal and renewable fuels, the Bush Administration made no apologies for cutting all oil and natural gas research and development dollars out of its fiscal 2008 energy budget request. “This president has never been in favor of subsidies for the oil and gas industry,” Energy Secretary Samuel Bodman told a budget briefing Monday.

With high storage levels for all the winter heating fuels and forecasts of warmer than normal temperatures, FERC staff is predicting a relatively good winter ahead for energy consumers and sees no red flags on the horizon for market participants.

With high storage levels for all the winter heating fuels, forecasts of warmer than normal temperatures and recent price declines, FERC staff is predicting a relatively good winter ahead for energy consumers and sees no red flags on the horizon for market participants.