Tight financial markets, a lack of new gas demand, the power generation supply glut and state regulatory concerns have delayed or halted many of the proposed natural gas pipeline expansions announced in the past few years, but even with some high profile cutbacks, U.S. pipeline expansion overall has done “rather well,” according to a new report.
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Merrill Lynch: Expect Power Supply Glut for 5 More Years
The nation will be flooded with excess gas-fired electric generation for at least another five years, according to a new survey of 57 generators by Merrill Lynch. The analysts predicted comfortable reserve margins on average nationwide, with a few tight spots (New York, Long Island, possibly California again), through 2008-2009.
Merrill Lynch: Expect Power Supply Glut for 5 More Years
The nation will be flooded with excess gas-fired electric generation for at least another five years, according to a new survey of 57 generators by Merrill Lynch. The analysts predicted comfortable reserve margins on average nationwide, with a few tight spots (New York, Long Island, possibly California again), through 2008-2009.
Futures Fall Lower Amid Supply Glut
After flirting with new lows for much of the morning on Wednesday, natural gas futures made a break lower in the afternoon as traders continued their mass exodus of long positions on the news that the market was able to post yet another robust storage injection figure. The October contract limped off the board at $1.83, down 9.5 cents for the day and a whopping 56.3 cents less than where it was when it became the prompt contract a month ago.