Possibility

The effects of the western power crisis will prevail throughthis year and beyond — with the possibility of much more severeproblems and concurrent economic consequences this summer than havebeen seen so far — according to a western energy summit Friday,which included western state governors, top federal energyofficials, and the CEOs of energy producers and industrialconsumers.

The amount of new gas-fired power generation planned for the next two years reveals the rather alarming possibility that an additional 10 Bcf/d of gas demand could be added to the gas market before the end of 2002 from power demand alone, according to a report by Raymond James & Associates.

The amount of new gas-fired power generation planned for thenext two years reveals the rather alarming possibility that anadditional 10 Bcf/d of gas demand could be added to the gas marketbefore the end of 2002 from power demand alone, according to areport by Raymond James & Associates.

Calling a natural gas supply shortage in the coming year “a veryreal possibility,” Dr. Bruce M. Bell, chairman of the Mid-ContinentOil & Gas Association of Oklahoma, said there is an “urgentneed” for increased drilling activity, particularly in Oklahoma.But to increase the drilling activity you need more people, andthat shortage is directly related to the natural gas shortage. Sortof like a Catch 22.

Calling a natural gas shortage in the coming year “a very realpossibility,” Dr. Bruce M. Bell, chairman of the Mid-Continent Oil& Gas Association of Oklahoma said there is an “urgent need”for increased drilling activity, particularly in Oklahoma. But toincrease the drilling activity you need more people, and thatshortage is directly related to the natural gas shortage. Sort oflike a Catch 22.

Faced with the possibility of loosing its electric marketinglicense in New Jersey because of seedy marketing maneuvers,Sempra’s Energy America cut a deal with the state’s Board of PublicUtilities last week, agreeing to halt its marketing efforts for athree-week span, retrain its agents and stop all “unconscionablemarketing tactics.”

Faced with the possibility of loosing its electric marketinglicense in New Jersey because of seedy marketing maneuvers,Sempra’s Energy America cut a deal with the state’s Board of PublicUtilities last week, agreeing to halt its marketing efforts for athree-week span, retrain its agents and stop all “unconscionablemarketing tactics.”

PG&E Corp. is exploring the possibility of selling itsTexas-based natural gas pipeline, processing and liquids assets,according to an 8-K form filed at the Securities and ExchangeCommission last week.

PG&E Corp. is exploring the possibility of selling itsTexas-based natural gas pipeline, processing and liquids assets,according to an 8-K form filed at the Securities and ExchangeCommission yesterday.