Permanent

Three New Jersey Democratic lawmakers have reintroduced legislation that would place a permanent ban on drilling off the Jersey Shore and all of the North and Mid-Atlantic states from Maine to Virginia.

Three New Jersey Democratic lawmakers have reintroduced legislation that would place a permanent ban on drilling off the Jersey Shore and all of the North and Mid-Atlantic states from Maine to Virginia.

The U.S. District Court for the Southern District of Texas last week issued a permanent injunction against Texas resident Richard Hale and Texas-based Allegheny Gulf Investments Inc. that prohibits them from, among other things, controlling or directing any commodity futures or options trading accounts. The defendants also were ordered to pay a $440,000 fine for violations related to trading natural gas futures.

U.S. District Court for the Southern District of Texas has issued a permanent injunction against Texas resident Richard Hale and Texas-based Allegheny Gulf Investments Inc. that prohibits them from, among other things, controlling or directing any commodity futures or options trading accounts. The defendants also were ordered to pay a $440,000 fine for violations related to trading natural gas futures.

American Gas Association (AGA) Chairman Robert Best told security analysts last week that they should get used to the higher natural gas prices because they were going to be around for the entire winter season.

American Gas Association (AGA) Chairman Robert Best told security analysts earlier this week that they should get used to the higher natural gas prices because they were going to be around for the entire winter season.

NorthWestern Corp. said Wednesday that its board has decided to stick with interim CEO Gary G. Drook as its permanent president and chief executive. Drook has been interim CEO since Jan. 3, around the time the company announced a corporate restructuring program, cut its dividend and took large write downs for several unregulated businesses (see Daily GPI, Feb. 20). On Wednesday, the board also elected Michael J. Hanson COO. Drook said that Hanson will continue to lead the operations of NorthWestern’s core electric and natural gas utility operations and will have responsibility for the strategic direction of the utility business along with taking on the additional responsibility for human resources management. Drook previously was president and chief executive officer of AFFINA Inc. a Peoria, IL, provider of customer relationship management programs.

Discounting reports from other Wall Street analysts about permanent gas “demand destruction” and rapid supply growth being the causes of the current price collapse, Robert Christensen of First Albany Corp. said prices have fallen mainly in reaction to strong storage injections this spring and probably will rebound because of minimal supply growth. Christensen released a report last week titled “Still a `No Show’- Natural Gas Supply Growth” that makes a case for remaining bullish in the face of rapidly declining spot prices.

Discounting reports from other Wall Street analysts about permanent gas “demand destruction” and rapid supply growth being the causes of the current price collapse, Robert Christensen of First Albany Corp. said prices have fallen mainly in reaction to strong storage injections this spring and probably will rebound because of minimal supply growth. Christensen released a report this week titled “Still a ‘No Show’ – Natural Gas Supply Growth” that makes a case for remaining bullish in the face of rapidly declining spot prices.