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By a narrow margin, voters Tuesday elected President Obama to a second term in office, but with Congress still split — a majority Republican House and a majority Democratic Senate — the passage of significant legislation relating to the energy industry or anything else remains problematic.

By a narrow margin, voters Tuesday elected President Obama to a second term in office, but with Congress still split — a majority Republican House and a majority Democratic Senate — the passage of significant legislation relating to the energy industry or anything else remains problematic.

The industry-led Marcellus Shale Coalition (MSC) has canceled a study underway by Pennsylvania State University (Penn State) about natural gas drilling and hydraulic fracturing (fracking), following criticism that previous research had a pro-drilling slant.

Physical gas prices eased about 3 cents overall Tuesday, and declines were within a relatively narrow range across the country. Eastern markets saw a strengthening in basis, but next-day prices eased with unsupportive weather being cited. Pipelines in Southern California were back in balance from an operational flow order earlier in the week and next-day prices eased. At the close of futures trading July had risen 1.4 cents to $2.232 and August was up by 2.4 cents to $2.287. July crude oil added 62 cents to $83.32/bbl.

The Pennsylvania Senate approved its version of an impact fee on natural gas by a narrow vote last Wednesday night, but it’s still uncertain whether Pennsylvanians will get a revenue boost or the proverbial lump of coal for Christmas.

The Pennsylvania Senate approved its version of an impact fee on natural gas by a narrow vote Wednesday night, but it’s still uncertain whether Pennsylvanians will get a revenue boost or the proverbial lump of coal for Christmas.

As it prepares to begin commercial operations later this month, El Paso Corp.’s Ruby Pipeline holds a narrow initial market in the West centered on Northern California. Markets in the Pacific Northwest and Southern California remain virtually untapped, according to sources in those regions.

May natural gas was again confined to a narrow 6-cent trading range and eased slightly in options-dominated trading Tuesday.

May natural gas futures were limited to a narrow 6-cent trading range and fell nominally as risk managers noted an uninspired market, and described their methodology for wringing value from a low-volatility trading environment. At the close May had eased 2.3 cents to $4.389 and June shed 1.4 cents to $4.452. June crude oil lost a penny to $112.28/bbl.