Industrials

Natural gas pipelines, distributors, producers, industrials and a process consumer group are protesting the revised tariff records that Texas Eastern Transmission LP (Tetco) has submitted to FERC, which would exempt it from providing full reservation charge credits to shippers in cases where it is required to interrupt service to comply with new government safety and environmental regulations.

Natural gas pipelines, distributors, producers, industrials and a process consumer group are protesting the revised tariff records that Texas Eastern Transmission LP (Tetco) has submitted to FERC, which would exempt it from providing full reservation charge credits to shippers in cases where it is required to interrupt service to comply with new government safety and environmental regulations.

One day after the Dow Jones Industrials recorded one of the largest single-day point losses ever, the feeling on Tuesday was that investors might have gotten a little bit carried away. Bargain hunters rushed to Wall Street and to commodity markets on Tuesday, resulting in significant climbs on the day.

Responding to the skyrocketing energy prices of the last several months, some of the larger global industrials began showing the strain last week as they announced price hikes across their entire product lines. Just one day after Dow Chemical Corp. reported product price hikes due to higher commodity, feedstock and transportation costs, Huntsman Corp. followed suit.

Christmas came early for industrials, utilities and residential natural gas customers this year as futures traders late last week pressured prices to levels not seen since late November. Central to the sell-off was end-of-year book squaring mixed with contract liquidation ahead of moderating temperatures that were expected to invade portions of the country over the weekend and this week. The January contract was the hardest hit by the selling, dropping 64 cents for the day and $1.35 for the week to close at $12.283.

Following the disclosure Thursday that last week’s outsized storage withdrawal report was erroneous, industrial customers immediately called for a change to daily storage reporting and reforms to the natural gas trading rules on the New York Mercantile Exchange (Nymex), while the Energy Information Administration (EIA) defended its processing of storage information.

Following the disclosure Thursday that last week’s outsized storage withdrawal report was erroneous, industrial customers immediately called for a change to daily storage reporting and reforms to the natural gas trading rules on the New York Mercantile Exchange (Nymex), while the Energy Information Administration (EIA) defended its processing of storage information.

In a refrain that has grown louder and more frequent over the last two years, two large industrial associations urged the federal government last Wednesday to take action that directly addresses high natural gas prices, price volatility and domestic natural gas supply.

In a refrain that has grown louder and more frequent over the last two years, two large industrial associations urged the federal government Wednesday to take action that directly addresses high natural gas prices, price volatility and domestic natural gas supply.