Notably

President Obama’s budget proposal to wipe out $36.5 billion in tax breaks for the oil and natural gas industry in fiscal year (FY) 2011 — notably the popular expensing of intangible drilling costs (IDC), which independent producers contend is critical to their business — will meet with resistance in Congress, say energy analysts with FBR Capital Markets.

President Obama’s budget proposal to repeal in fiscal year (FY) 2011 $36.5 billion in tax breaks for the oil and natural gas industry — notably the popular expensing of intangible drilling costs (IDC), which independent producers contend is critical to their business — will meet with resistance in Congress, say energy analysts with FBR Capital Markets (see Daily GPI, Feb. 2).

President Obama’s budget proposal to repeal in fiscal year (FY) 2011 $36.5 billion in tax breaks for the oil and natural gas industry — notably the popular expensing of intangible drilling costs (IDC), which independent producers contend is critical to their business — will meet with resistance in Congress, say energy analysts with FBR Capital Markets (see Daily GPI, Feb. 2).

Southwestern Energy Co. CEO Harold Korell said Friday that progress in 2007 in the company’s core Fayetteville Shale program and investments in emerging plays across the country have helped to “set the stage” for 30-35% production growth this year.

Notably absent from those stepping up to commercialize Alaska’s vast North Slope gas reserves with pipeline/liquefied natural gas (LNG) projects under a state-sanctioned plan are the region’s three major producers and a pipeline company that many expected to throw its hat in the ring.

Notably absent from those stepping up to commercialize Alaska’s vast North Slope gas reserves with pipeline/liquefied natural gas (LNG) projects under a state-sanctioned plan are the region’s three major producers and a pipeline company that many expected to throw its hat in the ring.

Most of the cash market continued to rise Wednesday, but by notably smaller amounts than the day before. With heat levels greatly increasing in much of the West, particularly in inland California, Rockies gas found enough cooling load to arrest its recent slide into sub-$1 averages and cause large rebounds.

Key elements of the energy policy bill and auxiliary tax package passed by the U.S. House of Representatives a week ago — notably a mandatory 15% renewable portfolio standard (RPS), increased taxes on the oil and gas industry, and the lack of increased fuel efficiency standards for autos — spell trouble for a conference committee attempting to reconcile the House bill with a U.S. Senate bill passed earlier this summer (see NGI, June 25).

Key elements of the energy policy bill and auxiliary tax package passed by the U.S. House of Representatives over the weekend — notably a mandatory 15% renewable portfolio standard (RPS), increased taxes on the oil and gas industry, and the lack of increased fuel efficiency standards for autos — spell trouble for a conference committee attempting to reconcile the House bill with a U.S. Senate bill passed earlier this summer (see Daily GPI, June 25).