Leaders

The oil and natural gas industry breathed a sigh of relief last Monday when Senate leaders said they would not consider the $3 billion omnibus lands bill during the lame-duck session. But the relief may be short-lived because they plan to take up the legislation, which would close access to millions of acres of public lands for energy exploration and other activities, when the new Congress convenes in January.

The oil and natural gas industry breathed a sigh of relief Monday when Senate leaders said they would not consider the $3 billion omnibus lands bill during the lame-duck session this week. But the relief may be short-lived because they plan to take up the legislation, which would close access to millions of acres of public lands for energy exploration and other activities, when the new Congress convenes in January.

World natural gas production leaders were again sounding the alarm over the creation of an OPEC-style natural gas organization, as energy emissaries of Russia, Iran and Qatar emerged from a meeting in Tehran last Tuesday saying they were working on the framework for a group of gas-exporting nations. But industry veterans are questioning what kind of an organization would evolve and how successful it would be.

World natural gas production leaders were again sounding the alarm over the creation of an OPEC-style natural gas organization, as energy emissaries of Russia, Iran and Qatar emerged from a meeting in Tehran Tuesday saying they were working on the framework for a group of gas-exporting nations. But industry veterans are questioning what kind of an organization would evolve and how successful it would be.

While the Bush administration Monday pressed Capitol Hill leaders to move quickly and pass the $700 billion rescue plan for the financial markets, Democrats said they weren’t about to hand over a blank check with no strings attached. Any bailout could have ramifications on the already skittish energy markets.

House and Senate Democratic leaders are said to be considering a bipartisan Senate proposal that would allow drilling in waters off four Atlantic Coast states and increase activity in the eastern Gulf of Mexico. However, the president of the American Petroleum Institute (API) contends that it “falls short of what is needed” to expand domestic oil and natural gas production.

Threats to the Gulf Coast — hurricanes and coastal erosion among them — have inspired energy industry leaders, environmentalists and conservationists to launch a sustainability initiative to protect the region, which is an energy breadbasket for the nation.

Threats to the Gulf Coast — hurricanes and coastal erosion among them — have inspired energy industry leaders, environmentalists and conservationists to launch a sustainability initiative to protect the region, which is an energy breadbasket for the nation.

Chesapeake Energy Corp.’s U.S. natural gas output should surpass that of leaders BP plc and Anadarko Petroleum Corp. within the next two months, CEO Aubrey McClendon said Friday.