Hikes

Tax hikes on the domestic oil and natural gas industry could put production at significant risk next year and through the coming decade, according to a study commissioned by the American Petroleum Institute (API) and conducted by Wood Mackenzie. API said it plans to hold a number of citizen rallies in the coming months to promote and protect U.S. energy jobs while also laying out its concerns on the proposed energy legislation, which it said could damage economic recovery.

Tax hikes on the domestic oil and natural gas industry could put production at significant risk next year and through the coming decade, according to a new study commissioned by the American Petroleum Institute (API) and conducted by Wood Mackenzie. API said it plans to hold a number of citizen rallies in the coming months to promote and protect American energy jobs while also laying out its concerns on energy legislation, which it said could damage the economic recovery.

The Obama administration’s proposed fee hikes and new fees for onshore and offshore production on federal lands in the fiscal year (FY) 2011 budget will add to the jobless rate and drain revenues from the federal coffers, both of which would further aggravate the economic climate, said Sen. Robert Bennett (R-UT) last Tuesday.

The Obama administration’s proposed fee hikes and new fees for onshore and offshore production on federal lands in the fiscal year (FY) 2011 budget would add to the jobless rate and drain revenues from the federal coffers, both of which would aggravate the economic climate, said Sen. Robert Bennett (R-UT) Tuesday.

The Obama administration’s proposed fee hikes and new fees for onshore and offshore production on federal lands in the fiscal year (FY) 2011 budget would add to the jobless rate and drain revenues from the federal coffers, both of which would aggravate the economic climate, said Sen. Robert Bennett (R-UT) Tuesday.

New York State Electric & Gas Corp. (NYSEG) and Rochester Gas and Electric Corp. (RG&E) Tuesday were denied rate hikes by the New York State Public Service Commission (PSC) on the recommendation of commission staff.

The Peoples Gas Light and Coke Co. and North Shore Gas Co., both Integrys Energy Group Inc. utilities, are seeking rate hikes from the Illinois Commerce Commission to take effect next year, in part to cover bad debt expense for gas commodity charges.

Just one day after Dow Chemical Corp. reported product price hikes due to higher commodity, feedstock and transportation costs, Huntsman Corp. followed suit on Thursday announcing it will raise prices for all products, some by as much as 25%, and also impose an energy surcharge across a wide range of products.

With cooling demand starting to wane in parts of the West and North, Friday’s continuation of price hikes at most points were based mostly on two previous days of screen strength, although power generation load remained fairly substantial overall. Reflecting the moderate weakening of weather fundamentals and the drop in industrial demand associated with a weekend, Friday’s upticks were smaller than Thursday’s, and a few Midcontinent and Rockies points were flat.