Path

Rather than continue down the same cap-and-trade path that “has only increased division” within Congress over climate change legislation, Sen. Lisa Murkowski (R-AK) Wednesday called for the Senate to return to the drawing board to consider other options, such as a carbon tax that is favored by oil and natural gas producers.

Prices stayed on an uphill path in most cases Wednesday, but the rate of increase was appreciably lower than the large gains during the first two days of the week and included several losses. Along with the previous day’s loss of 8.4 cents by December futures, cash gas appeared to be starting to acknowledge the moderating weather forecasts for the latter half of this week.

Offshore oil and gas operators in the Gulf of Mexico (GOM) were evacuating platforms and rigs in the path of Tropical Storm Ida Sunday and Monday as the storm was expected to make landfall early Tuesday morning. More than 25% each of GOM oil and natural gas production was shut in Monday, the Minerals Management Service (MMS) said.

Baja Path capacity on the California Gas Transmission system of Pacific Gas & Electric will be limited to 830 MMcf/d, or 70% of normal, Wednesday and Thursday while a section of Line 300A is replaced. Another reduction to 1,050 MMcf/d (92%) will occur May 12-18 during hydro testing of the line.

Elected northern Canadian leaders have thrown cold water on the latest initiative in a decades-old industry quest for a clear regulatory path toward opening the Northwest Territories (NWT) to natural gas development at a businesslike pace.

Elected northern Canadian leaders have thrown cold water on the latest initiative in a decades-old industry quest for a clear regulatory path toward opening the Northwest Territories (NWT) to natural gas development at a businesslike pace.

Following the lead of Gov. Jon Huntsman, the Utah House of Representatives Friday passed a resolution 70-0 designed to move the state and the nation on the path to conversion and use of natural gas-powered vehicles.

Following the lead of Gov. Jon Huntsman, the Utah House of Representatives Friday passed a resolution 70-0 designed to move the state and the nation on the path to conversion and use of natural gas-powered vehicles.

Concerns related to Hurricane Ike’s path combined with fairly strong support to push natural gas futures higher to end the week. October natural gas on Friday closed at $7.449, up 12.7 cents from Thursday but 49.4 cents lower than the previous week’s close.