Ingredient

Canadian pipelines have won a months-long battle to overturn a 15-year-old restriction on a key ingredient in their regulated profits and tolls. The National Energy Board (NEB), describing the old rule’s relevance today as doubtful, scrapped its formula for determining rates of return on the equity portion of the gas and oil transporters’ capital structures.

Canadian pipelines have won a months-long battle to overturn a 15-year-old restriction on a key ingredient in their regulated profits and tolls. The National Energy Board (NEB), describing the old rule’s relevance today as doubtful, scrapped its formula for determining rates of return on the equity portion of the gas and oil transporters’ capital structures.

Wednesday’s futures increase of nearly a quarter, extending a rally into its fourth day, was the main ingredient in the recipe for rising prices at almost all points Thursday, but a dash of heating load in parts of the northern market areas along with a pinch of remaining cooling load from the western end of the South though the desert Southwest also were part of the mix.

A key ingredient in reformulated gasoline, methyl tertiary butyl ether, or MTBE, may soon be in short supply because of the rising price of natural gas. Friday, independent Valero Refining Corp. said it has cut its MTBE production 7,000 bbl/d from its only production plant because of the high costs.