Nationwide

The Securities and Exchange Commission (SEC) last Tuesday charged two securities promoters with allegedly bilking 70 investors nationwide out of an estimated $2.2 million through the sales of oil and natural gas leases. Along with the charges, the SEC issued an investor alert on its website at http://www.sec.gov warning investors to be wary of solicitations that prey on the fears of higher oil and gas prices.

The Securities and Exchange Commission (SEC) on Tuesday charged two securities promoters with allegedly bilking 70 investors nationwide out of an estimated $2.2 million through the sales of oil and natural gas leases. Along with the charges, the SEC issued an investor alert available on its website at http://www.sec.gov warning investors to beware of solicitations that prey on the fears of higher oil and gas prices.

Cash prices jumped nationwide Monday with gains of 10-45 cents in response to slightly stronger gas futures prices (August was up 8.5 cents), 80-90-degree heat in many major markets, and expectations of higher cooling degree days (CDD) this week. The National Weather Service is forecasting that CDDs will be about 17% above average for the week.

Cash prices jumped above $8 again in the Northeast on Tuesday and most spot points nationwide posted solid gains for the second day in a row as colder weather and short-term forecasts of below normal temperatures across most of the nation put the massive gas storage surplus temporarily on the back burner.

Nationwide energy efficiency resource standards (EERS), consisting of energy savings targets set for utilities and a market-based energy efficiency trading system, could cut energy use by 5% in 2020 and save consumers $170 billion over the 2007-2020 period, according to a new report that was released in Washington, DC, Thursday by the American Council for an Energy-Efficient Economy (ACEEE).

Pennsylvania-based Southern Union Co. extended its nationwide natural gas pipeline network Friday, announcing it will pay $1.6 billion in cash to purchase the privately held Sid Richardson Energy Services Co. of Fort Worth. The company, started by legendary wildcatter Sid Richardson and his nephew Perry Bass in 1947, includes 4,000 miles of gas pipe in West Texas and New Mexico.

While it may not be much comfort, natural gas consumers nationwide would have faced an even more precarious supply and price situation entering this winter had the industry not finished last winter with a larger than normal amount of gas in storage and maintained typical injections throughout much of the year, a Houston-based independent storage developer told FERC last Wednesday.

While it may not be much comfort, natural gas consumers nationwide would have faced an even more precarious supply and price situation entering this winter had the industry not finished last winter with a larger than normal amount of gas in storage and maintained typical injections throughout much of the year, a Houston-based independent storage developer told FERC on Wednesday.

Natural gas customers nationwide are going to suffer the “economic pain” of high prices and tight supply this winter in the wake of Hurricane Katrina, the head of the Energy Information Administration told a House subcommittee last Wednesday.