Wyoming state lawmakers last Friday passed legislation to help bring a permanent solution to potential drinking water problems in the Pavillion, WY, area. This is where two U.S. Environmental Protection Agency (EPA) test wells have sparked concerns among residents and environmental activists who are opposed to hydraulic fracturing (fracking).
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Bears Continue Grip on Market; September Falls Again
September natural gas futures continued to march lower Friday as traders sensed a pall over the market prompted by Thursday’s bearish inventory report, weak economic data and continued discord in Washington over the debt ceiling. At the close September had fallen 9.9 cents to $4.145 and October was down 10.0 cents to $4.157. September crude oil fell $1.74 to $95.70/bbl. For the week September natural gas futures lost 22.5 cents.
Bankruptcy Possibility Casts Pall Over NRG Energy, Reliant
Almost a year after Enron Corp. filed for bankruptcy protection, NRG Energy and Reliant Resources find themselves unable to rule out the possibility they won’t ultimately find themselves traveling down the same Chapter 11 path that the former energy trading giant did in December 2001.