Living

The new year will open in Canada’s chief natural gas-producing jurisdiction with its residents collecting a double bonus just for living in Alberta thanks to 2005 gas royalties of C$9 billion, more than double the amount projected. The funds will be dispersed to citizens despite a survey showing a majority would rather the government kept the money and spent it on services.

Canadian natural gas exports continue to defy conventional wisdom by growing instead of living up to consensus forecasts of production tapering off in aging fields, trade records kept by the U.S. Department of Energy show.

If the United States wants to maintain its current standard of living, it is going to have to become a bigger player in the global gas market by importing more liquefied natural gas (LNG), Federal Reserve Chairman Alan Greenspan told a House panel last Tuesday.

If the United States wants to maintain its current standard of living, it will have to become a bigger player in the global gas market by importing more liquefied natural gas (LNG), Federal Reserve Chairman Alan Greenspan told a House panel Tuesday.

Shrugging off medium-range forecasts calling for moderating temperatures, natural gas futures shot to new 22-month highs Wednesday as traders bid the market up in sympathy with stronger cash market prices and ahead of bullish storage data due out Thursday morning. Locals sold on the higher opening, but were then quickly forced to cover their sales as the market continued higher. New longs added to the buying frenzy and the prompt month gained 25 cents in 65 minutes to reach a $5.74 high at 11:30 a.m. EDT. February closed at $5.673, up 24 cents for the session.

Williams Cos. employees used to “living on Tulsa time” may have to reset their watches in the next few weeks, after the company last week began following through on plans to slash its workforce payroll up to one third, slicing about 4,000 positions eventually through asset sales, retirement and layoffs. Most of the affected employees will no longer be Williams employees when the assets are sold, but the internal cuts will be deeply felt in the wounded energy trading unit in Tulsa, where at least 100 were expecting a final paycheck last week.

Williams Cos. employees used to “living on Tulsa time” may have to reset their watches in the next few weeks, after an internal company memo announced that the Oklahoma-based company will slash its workforce payroll up to one-third, slicing about 4,000 positions through asset sales, retirement and layoffs. Most of the affected employees will no longer be Williams employees when the asset sales are completed, but the cuts will be deeply felt in the already wounded energy trading unit in Tulsa, where at least 100 will get a final paycheck in the next few days, and up to 330 in the next two months. London is expected to trim up to 70 European traders, while Houston could lose up to 25.

Summertime, and the living is downright hot–finally. Moderate to severe heat was uniform in all areas for a change Monday (even up into Canada, where a Calgary source reported afternoon temperatures in the mid 80s). The cash market responded with across-the-board gains that were mostly in the teens.

In this wacky energy year in California, the state-charteredelectricity transmission grid operator, Cal-ISO, Tuesday upstagedone of the hit holiday movies by releasing its own version of Dr.Seuss’ classic “The Grinch That Stole Christmas.” The state’snonprofit traffic cop for electrons shocked Californians with arequest that they cutback on their use of holiday lights,restricting their use to nonpeak hours.