A panel set up by Alaska Gov. Tony Knowles has recommended that the state not be among the investors in a major natural gas pipeline project from Alaska’s North Slope to markets in Canada and the Lower 48 states. However, the state’s money probably won’t be needed anyway because Senate Democrats last week introduced legislation on Capitol Hill that would provide a $10 billion loan guarantee to the company that submits an application before November 2002 to build the Alaska gas pipeline (see related story).
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AK Governor’s Panel Recommends That State Stay Out of Pipe Investment
A panel set up by Alaska Gov. Tony Knowles has recommended that the state not be among the investors in a major natural gas pipeline project from Alaska’s North Slope to markets in Canada and the Lower 48 states. However, the panel’s final report to the governor highlights the multiple benefits of the pipeline project and provides 61 recommendations on how the project should proceed.
Analysts See Positives for Energy Amid Market Turmoil
As investors are being blitzed with reports of bleak economic news and widespread stock sell-offs on Wall Street, Raymond James & Associates Thursday offered an encouraging word to energy companies: energy stocks are “at or very near the bottom point.”
Pending EPA Coal Decision, Gas Outlook Could Dim
Pending a major change in direction at the Environmental Protection Agency (EPA), natural gas investors could get an unwanted “coal-inscopy” next month, according to analyst Fred Schultz of Raymond James & Associates Inc. Coal-fired electric generation in the country could expand by up to 40,000 MW.
Enron CEO Plans Divestitures to Boost Stock Price
Enron Corp. Chairman Ken Lay told Wall Street analysts and investors the company plans to divest up to $5 billion in assets over the next two years in order to support its plummeting stock price. Included among the assets are Portland General Electric, which the company has been trying to unload for more than a year, some unnamed power plants on the West Coast, the company’s generation interests in India, and some energy businesses in Puerto Rico and Brazil. Enron also may be in talks to sell its wind turbine business, which represents a 6% share of the world market for installed wind turbines.
Pending EPA Coal Decision, Gas Outlook Could Dim
Pending a major change in direction at the Environmental Protection Agency (EPA), natural gas investors could get an unwanted “coal-inscopy” next month, according to analyst Fred Schultz of Raymond James & Associates Inc. Coal-fired electric generation in the country could expand by up to 40,000 MW.
Calpine Boasts of New Gas and Electric Supplies for CA
In addition to providing about 1,500 MW of new power supply since the outset of summer, Calpine Corp. Tuesday told investors on a conference call that it has also enhanced California’s natural gas resources for the state market and its own operations.
Raymond James: Gas Use Undermined by Nukes
As most investors and analysts continue to scratch their respective heads in search of evidence as to why the country’s natural gas storage facilities are continuing to fill at an exceptionally fast pace over the past three months despite falling prices, Fred Schultz, of Raymond James & Associates, thinks the answer might lie in an overlooked indicator, namely nuclear power.
Raymond James: Gas Use Undermined by Nukes
As most investors and analysts continue to scratch their respective heads in search of evidence as to why the country’s natural gas storage facilities continued to fill at an exceptionally fast pace over the past three months with prices falling, Fred Schultz, of Raymond James & Associates, thinks the answer might lie in an overlooked indicator, namely nuclear power.
Investors Show Mixed Feelings for FERC’s Power Market Ruling
Many energy stocks were hammered hard intially by FERC’s western power price mitigation order last week, but the stocks of some generators, marketers and utilities managed to rebound by the end of the week as investment bankers attempted to put a positive spin on the expected impact of the order.