Pinched

Canada’s chief natural gas producing jurisdiction is being pinched by soft prices, Alberta Finance Minister Ted Morton has confirmed. New government accounts, described by critics as highlighting “madness” of relying on resource income, show that gas has fallen to fourth place among provincial revenue sources from its previous stellar role as the reliable No. 1.

Tropical Storm Arlene barely pinched oil and natural gas output in the Gulf of Mexico (GOM) earlier this month, according to the Minerals Management Service (MMS). In its final report on the first storm of the season last week, MMS reported that the cumulative shut-in gas production from June 10 through midday last Tuesday was 3.428 Bcf, which is equivalent to 0.087% of the yearly production of about 3.94 Tcf.