The second version of the U.S. Department of Interior’s (DOE) proposed rule to regulate hydraulic fracturing (fracking) on public lands isn’t as bad as the first, but with a projected cost per well of $96,913, it still leaves much to be desired, industry groups said.
Articles from Misguided
A lawsuit that sought an extensive environmental review of hydraulic fracturing (fracking) in the Delaware River Basin by the State of New York and a coalition of environmental groups has been dismissed by a federal judge. However, the ruling left open to question whether an environmental assessment of the basin may be required in the future.
Analysts say fear of gas shortages this winter is misguided, but there are some concerns about managing natural gas deliveries in light of the extensive damage caused by Hurricane Katrina on El Paso Corp.’s eastern pipelines, several Gulf Coast gas processing plants and production facilities.
After a misguided attempt to rally Thursday morning, natural gas futures moved lower as traders pieced together a mixed bag of data released by the Energy Information Administration (EIA). The June contract was hit with two waves of local and fund trader selling — one following the 10:30 a.m. EDT storage report and the other near the 2:30 p.m. closing bell. The June contract suffered the greatest loss, dipping 18.3 cents to close at $6.131.