Independence

The Haynesville Shale in northwestern Louisiana could hold the key to U.S. energy independence, Chesapeake Energy Corp. CEO Aubrey McClendon said last week. The CEO, who has long led one of the loudest cheering sections for domestic natural gas prospects, claimed Wednesday that the emerging shale could be three times more prolific in estimated gas resources than the Barnett Shale of Texas.

The few traders still working on the day before the long Independence Day holiday weekend responded bullishly Thursday to news that only 85 Bcf had been injected into storage for the week ended June 27. The bullish number, teamed with concerns related to the development of Tropical Storm Bertha in the eastern Atlantic, helped August natural gas to a high of $13.587 before a regular session close of $13.577, up 18.8 cents from Wednesday and 37.9 cents higher than the previous week’s finish.

A bygone era of fierce economic independence is fading into history as Canada’s main natural gas-producing province, acting in the name of industrial efficiency, quietly allows a once-unthinkable transfer of jurisdiction to the federal government.

A bygone era of fierce economic independence is fading into history as Canada’s main natural gas-producing province, acting in the name of industrial efficiency, quietly allows a once-unthinkable transfer of jurisdiction to the federal government.

Supportive crude prices, no update on the Independence Hub repairs and the first year-on-five-year average storage deficit in almost four years continued to push natural gas futures higher in Tuesday’s trade, but not high enough to break out of the recent trading range. After recording the day’s high of $10.280 in morning trade, May natural gas futures put in a low of $10.165 before closing out Tuesday’s regular session at $10.205, up 15.2 cents from Monday’s close.

Legislation proposed by Rep. Mike Ross (D-AR) would promote American energy independence by opening both the Outer Continental Shelf (OCS) and the Arctic National Wildlife Refuge (ANWR) to oil and natural gas production and would create tax credits for the development of nuclear plants.

Legislation proposed by Rep. Mike Ross (D-AR) would promote American energy independence by opening both the Outer Continental Shelf (OCS) and the Arctic National Wildlife Refuge (ANWR) to oil and natural gas production and would create tax credits for the development of nuclear plants.

Virginia Gov. Timothy Kaine last Wednesday offered a broad-based energy plan that seeks to promote the state’s energy independence and conservation and efficiency efforts.

Virginia Gov. Timothy Kaine Wednesday offered a broad-based energy plan that seeks to promote the state’s energy independence and educate consumers on energy conservation and efficiency.