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Natural gas spot prices soared 25-60 cents Monday in response to the National Hurricane Center’s (NHC) new route forecast for terrible Hurricane Ivan, which could make a grazing hit on eastern Gulf oil and gas projection facilities.

Members of the badly fractured California Public Utilities Commission (CPUC) cracked heads again Tuesday during an all-day hearing on a proposed core/noncore electricity market for the state that included presentations from two-dozen industry stakeholders and academics. The public exchanges underscored the continuing sharp difference of opinion on what direction the state’s energy policy should take three years after the crisis of 2000-2001.

Cash prices kept falling Thursday, but by smaller amounts than the day before. Snow in northern Michigan; frost advisories in parts of the Midwest, Northeast and even the upper South; and record-setting lows reaching the teens in some cases failed to avert softness.

Although the official start of summer is still more than two weeks away, the amusement park season officially opened at Nymex Wednesday. In a roller coaster-like session, the July contract twice soared and descended as fund and local trader technical buying met with equal parts producer selling.

New Mexico Gov. Bill Richardson heads the slate of 2003-2004 Interstate Oil and Gas Compact Commission (IOGCC) officers. Richardson, a former United Nations ambassador and U.S. secretary of energy during the Clinton Administration, was chosen at the IOGCC’s midyear meeting in Williamsburg, VA. He will succeed the current chairman, North Dakota Gov. John Hoeven, at the IOGCC’s annual meeting in Reno in October. Donald L. Mason of Ohio was selected as vice chairman and Randy Ruedrich of Alaska was selected as second vice chairman. Mason, a member of the Public Utilities Commission of Ohio, is the current second vice chairman of the IOGCC. Ruedrich is a member of the Alaska Oil and Gas Conservation Commission. Alaska Gov. Frank Murkowski was named chairman-elect, and will serve as chairman in 2004-2005 along with Ruedrich as vice chairman and Don Likwartz of Wyoming as second vice chairman. Likwartz is state oil and gas supervisor for Wyoming. Wyoming Gov. Dave Freudenthal was tabbed to serve as chairman in 2005-2006. The IOGCC, founded in 1935 to ensure the efficient recovery of domestic petroleum resources while protecting health, safety and the environment, represents the governors of 30 oil and gas producing states. Seven states are associate members, and the IOGCC international program has seven affiliates. For more information on the IOGCC, visit its web site at www.iogcc.state.ok.us.

Although continuing divisions between old and new heads of the California Public Utilities Commission surfaced, state regulators Thursday approved Southern California Edison Co.’s move to hedge its wholesale natural gas and purchased electrical power costs — although a question of making the power-buying deals more transparent was raised. Hundreds of millions of dollars are involved in the deals.

Although continuing divisions between old and new heads of the California Public Utilities Commission surfaced, state regulators Thursday approved Southern California Edison Co.’s move to hedge its wholesale natural gas and purchased electrical power costs — although a question of making the power-buying deals more transparent was raised. Hundreds of millions of dollars are involved in the deals.

After gapping higher at the opening bell, natural gas futures extended to new four-month highs Wednesday as traders grappled with the possibility that Tropical Storm Isidore, which was upgraded from Tropical Depression 10 Tuesday night, would intensify on its path toward the Gulf of Mexico. The buying was seen in two distinct waves. The first surge culminated with a $3.85 high yesterday morning. After a brief sell-off, bulls were at it again in the afternoon. Light profit-taking trimmed the market’s gains and left the October contract 6.3 cents off its high for the session. However, at $3.787 the prompt month was 10.8 cents higher for the day.

The heads of the North American Electric Reliability Council (NERC) and the North American Energy Standards Board (NAESB) on Thursday signed a letter of intent that commits the two organizations to coordinate the development of business practice standards and electronic communications protocols by NAESB and the development of wholesale electric reliability standards by NERC.