Highly

The signs of a potential reversal in this week’s cash price run-up that began to surface Wednesday (see Daily GPI, Sept. 1) proved to be highly accurate. The September aftermarket, which had gotten off to a strong start the day before, was headed downhill in a hurry Thursday with losses ranging from about 30 cents to $2.60 or so.

Summer officially began early Tuesday morning, and it’s highly unlikely that many people will be mistaking it for any other seasons. Actually it will be feeling more like typical midsummer heat throughout much of the U.S. Tuesday, and the big boost in power generation load, aided and abetted by residual screen strength from late last week, sent cash prices higher by double-digit amounts in most cases Monday.

Citing the highly public jurisdictional spat between it and the state of California, the Federal Energy Regulatory Commission has called on Congress to modify Section 3 of the Natural Gas Act (NGA) to make “clear and unambiguous” that FERC has exclusive authority over the siting of liquefied natural gas (LNG) import terminals onshore and in state waters, as well as over pipeline facilities that deliver gas from the LNG terminals.

Citing the highly public jurisdictional spat between it and the state of California, the Federal Energy Regulatory Commission has called on Congress to modify Section 3 of the Natural Gas Act (NGA) to make “clear and unambiguous” that FERC has exclusive authority over the siting of liquefied natural gas (LNG) import terminals onshore and in state waters, as well as over pipeline facilities that deliver gas from the LNG terminals.

Winter hasn’t exited the seasonal weather stage quite yet, but looks like it might be getting ready for its final curtain call. Most of the coldest remaining temperatures are in northern New England and ranging from the Upper Plains through the Rockies.

Top Senate-House Republican negotiators decided to include the highly contentious issue of energy development in the Arctic National Wildlife Refuge (ANWR) as part of the latest “discussion draft” on broad energy legislation, which was issued Monday.

Tulsa-based Vintage Petroleum Inc., highly leveraged with Argentina assets negatively affected by the country’s economic problems, Tuesday said it is turning down a restructuring offer by 8.9% shareholder BP Capital Energy, which has proposed, among other things, that Vintage sell all of its North American assets and be based only in Latin America.

In a highly unusual, if not unprecedented, move, FERC announced Friday that it will reconsider its decision to allow Williams to reactivate and expand its Cove Point liquefied natural gas (LNG) terminal plant in Maryland, even before rehearing petitions are due at the Commission.

In a highly unusual, if not unprecedented, move, FERC announced Friday that it will reconsider its decision to allow Williams to reactivate and expand its Cove Point liquefied natural gas (LNG) terminal plant in Maryland, even before rehearing petitions are due at the Commission.