Neighboring

A significant majority of Pennsylvania residents support the use of a severance tax on drilling operations to help close a projected $4 billion state budget gap, according to the results of a survey released Thursday by the Center for Opinion Research at Franklin & Marshall College in Lancaster, PA.

While Quebec’s announcement that hydraulic fracturing could continue on a limited basis has divided people in the province, a government official in the neighboring province of New Brunswick said a moratorium on the practice won’t be implemented there.

The Los Angeles Harbor Commission has approved spending $44.3 million for natural gas-powered trucks in the port, which combined with that of neighboring Long Beach makes up the nation’s busiest harbor and one that has suffered from some of the most polluted air in the Los Angeles Basin. In its 2009 Clean Truck Incentive Program, Seal Beach, CA-based Clean Energy expects to provide the majority of the 1,000 alternative-fueled trucks targeted by the end of this year.

While April natural gas futures on Wednesday continued their recent trend of shaving a few pennies a day, the real fireworks could be found in neighboring crude futures, which saw the April contract fall $3.38 to close at $42.33/bbl, just two sessions after trading as high as $48.83/bbl. April natural gas closed Wednesday at $3.798, down 4.2 cents from Tuesday.

Spurned by producers that found better business conditions in neighboring provinces, Alberta officials Tuesday made a dramatic effort to entice the energy sector to return by offering a bundle of lucrative tax credits. Alberta’s efforts followed one by British Columbia (BC), which last week increased the amount of natural gas and oil royalty credits available to producers to encourage infrastructure development.

Spurned by producers that found better business conditions in neighboring provinces, Alberta officials Tuesday made a dramatic effort to entice the energy sector to return by offering a bundle of lucrative tax credits.

Natural gas futures finished the week on a weak note Friday despite another record run higher in neighboring crude futures. August natural gas closed Friday’s regular session at $11.904, down 39.6 cents from Thursday and $1.673 lower than the previous week’s finish.

Natural gas futures streaked higher again on Wednesday with more than firm support from the neighboring crude futures market. June natural gas reached a high of $11.683 before closing out the regular session at $11.640, up 27.5 cents from Tuesday’s close.

Following through on leftover momentum from Friday and a renewed burst of strength from the neighboring crude futures market, natural gas futures sprung above $11 on Monday to record a $11.210 high before closing out the day at $11.178, up 40.1 cents from last week’s close.