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.
Articles from Labor
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.
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.
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.