Harbinger

Dallas-based Exco Resources Inc. and New York-based holding company Harbinger Group Inc. (HGI) have formed a partnership to exploit Exco assets in East Texas, North Louisiana and West Texas in a deal worth $725 million. It gives HGI a foothold in energy that is also a bet on rising natural gas prices.

As perhaps a harbinger of climate change and cap-and-trade efforts aimed at greenhouse gas (GHG) emissions, Arizona formally pulled out of the regional Western Climate Initiative (WCI), a once-promising multi-state effort involving seven states and four Canadian provinces. California and the provinces now appear to be leading the charge alone.

Wednesday’s minimal gains proved to be an accurate harbinger of a three-day market rally coming to an end. A flat Westcoast Station 2 was the sole exception to falling quotes at all other locations Thursday as the previous day’s 12.7-cent drop by prompt-month futures joined generally pleasant early-fall weather in applying downward pressure to physical gas numbers.

In what could be a harbinger for a string of energy projects, the U.S. Environmental Protection Agency (EPA) has exempted a proposed 600 MW natural gas-fired electric generation plant in California from new federal emissions rules. The action follows a strong dressing down of EPA’s handling of the case by a judge in the U.S. District Court of the District of Columbia May 26.

In what could be a harbinger for a string of energy projects, the U.S. Environmental Protection Agency (EPA) has exempted a proposed 600 MW natural gas-fired electric generation plant in California from new federal emissions rules. The action follows a strong dressing down of EPA’s handling of the case by a judge in the U.S. District Court of the District of Columbia last Thursday.

It’s no more than an early indicator now, but soon California’s oil/gas-rich and agricultural-based central valley may become a harbinger for America’s transition to the post-carbon age. A host of small alternative energy businesses are springing up in the oil and farm heartland of the state, along with a proposed cutting-edge carbon capture and storage (CCS) project that recently won a $308 million U.S. Department of Energy (DOE) grant from the stimulus package.

It’s no more than an early indicator now, but soon California’s oil/gas-rich and agricultural-based central valley may become a harbinger for America’s transition to the post-carbon age. A host of small alternative energy businesses are springing up in the oil and farm heartland of the state, along with a proposed cutting-edge carbon capture and storage (CCS) project that recently won a $308 million U.S. Department of Energy (DOE) grant from the stimulus package.

The much-anticipated combination of FPL Group and Constellation Energy announced last week is likely a harbinger of things to come in a post-PUHCA era, analysts say. However, don’t expect a frenzy of activity, and utility combinations in the absence of non regulated assets will have less appeal than pairings like FPL and Constellation, a deal predicated on non regulated business.

Showing that significant screen weakness on the previous day is not an automatic harbinger of subsequent softness in cash numbers, prices ranged from flat to as much as 65 cents higher at nearly all points Tuesday despite a natural gas futures loss of nearly a quarter on Monday. A few Gulf Coast points softened by as much as a dime in exceptions to the overall market strength.