While petroleum futures decisively explored lower on Tuesday following the Labor Day Holiday weekend, October natural gas was a little more undecided as traders began to monitor Tropical Depression 16 (TD 16) off the coast of Florida. After venturing both higher and lower during the course of the day, prompt month natural gas ended up settling 3.4 cents lower for the session at $11.657.
Labor
Articles from Labor
Royal Bank of Canada Pays $25M to Settle Enron Claims
Enron Corp. said Thursday that it will receive $25 million from the The Royal Bank of Canada (RBC) through a settlement agreement covering RBC’s portion of what it called the “MegaClaims” litigation against the major banks for allegedly aiding and abetting the company in breaches of fiduciary duties, fraud and civil conspiracy.
Proposed Alaska Ballot Measure Would Tax Producers Until Gas Pipeline is Built
Several Alaska lawmakers and labor leaders are backing a new proposed ballot measure that would place a tax on the booked Alaska natural gas reserves of producers until they place into service a natural gas pipeline to the Lower 48 states.
Two Senators Seek FTC Probe of Enron
On top of the ongoing investigations by the Securities and Exchange Commission (SEC) and departments of Justice and Labor, two senators now have called on the Federal Trade Commission (FTC) to launch a probe into Enron Corp. and its officers and directors to determine whether any federal fraud and consumer protection law violations and other irregularities occurred leading up to the collapse of the former energy giant.
Holiday Prices Mostly Softer But With Some Increases
The cash market went quietly into the Labor Day weekend Friday,registering prices that ranged from flat to down about a dime inmost cases, but sprinkled with scattered upticks (concentrated inthe West) and a Southern California border crash to break up thepattern.
Tom Brown Warns of Industry Labor Shortage
For the most part, the annual State of the Oil and Gas Industrymeeting of the Texas Railroad Commission in Austin yesterday was alove fest, as producers, operators, association representatives andvarious others lauded the good times and high profits the industryis having.
Cash Makes Strong Post-Holiday Comeback
Buoyed by a much firmer screen and the pickup in load thatfollows a long Labor Day weekend, cash prices rose Tuesday by anickel or more at almost every point, with most of the increasesexceeding a dime. Not only did natural gas futures rise more than adime, but the crude oil futures contract for October also flexedits muscle with a jump of slightly over 60 cents, placing it wellabove $22/bbl, a marketer pointed out.
Guardian Gets Boost From Wisconsin Businesses
A host of Wisconsin businesses, labor unions and state and localgovernment officials have rallied behind the proposed GuardianPipeline as their last, best hope of injecting natural gascompetition into the state. The coalition, which includes GovernorTommy Thompson, said the proposed 147-mile, $230 million interstatepipeline can create competition with ANR Pipeline, resulting inlower energy prices for consumers and increased reliability.