Henry

Rep. John Dingell (D-MI) suffered a stinging setback Wednesday when he narrowly lost a vote in the Democratic Steering Committee to challenger Rep. Henry Waxman (D-CA) for the gavel of the powerful House Energy and Commerce Committee.

Rep. John Dingell (D-MI) has formed a whip team to fend off a challenge from Rep. Henry Waxman (D-CA) for chairmanship of the powerful House Energy and Commerce Committee.

Rep. John Dingell (D-MI) has formed a whip team to fend off a challenge from Rep. Henry Waxman (D-CA) for chairmanship of the powerful House Energy and Commerce Committee.

Just days after Democrats turned in a solid victory last week, a crack in the party’s armor surfaced as firebrand Rep. Henry Waxman (D-CA) challenged veteran Rep. John Dingell (D-MI), who at 53 years in the House is considered the dean of the chamber, for the chairmanship of the House Energy and Commerce Committee. Senate Democrats were engaged in a little in-fighting of their own as well.

Just days after Democrats turned in a solid victory, a crack in the caucus’ armor has surfaced as firebrand Rep. Henry Waxman (D-CA) has challenged veteran Rep. John Dingell (D-MI), who at 53 years in the House is considered the dean of the chamber, for the chairmanship of the House Energy and Commerce Committee.

Even as the Henry Hub natural gas spot price skids to $6.27/Mcf and and crude oil futures trade at about $63/bbl — less than half of their summer peak — energy is expected to remain a priority issue when the 111th Congress convenes in January, Capitol Hill aides and legislative experts say.

Citing the risk of a “prolonged” global economic downturn and the drop in Henry Hub natural gas prices from their summer highs, Standard & Poor’s (S&P) Friday slashed its natural gas prices by $2 to $7/MMBtu for 2009 and 2010, and said that in 2011 and beyond, gas prices would average $6.

Citing the risk of a “prolonged” global economic downturn and the drop in Henry Hub natural gas prices from their summer highs, Standard & Poor’s (S&P) Friday slashed its natural gas prices by $2 to $7/MMBtu for 2009 and 2010, and said that in 2011 and beyond, gas prices would average $6.

Even with the hurricane-related disruptions from Gustav and Ike in September, prompt Henry Hub prices have remained below $8/MMBtu since the end of August, and as Gulf of Mexico production slowly recovers, supply strength elsewhere, economic weakness and a warm winter may pull winter gas prices below $7 by early next year, energy analysts predicted last week.