Prolonged

Citing the risk of a “prolonged” global economic downturn and the drop in Henry Hub natural gas prices from their summer highs, Standard & Poor’s (S&P) Friday slashed its natural gas prices by $2 to $7/MMBtu for 2009 and 2010, and said that in 2011 and beyond, gas prices would average $6.

Growing industrial consumption, a prolonged spell of poor prices, competition from rising overseas tanker imports and looming Alberta royalty hikes spell accelerating deterioration of Canadian natural gas supplies, industry analysts predict.

Growing industrial consumption, a prolonged spell of poor prices, competition from rising overseas tanker imports and looming Alberta royalty hikes spell accelerating deterioration of Canadian natural gas supplies, industry analysts predict.

The prolonged legislative stalemate that has left California without a budget six weeks after the July 1 deadline threatens to prevent any other legislation from being passed this session, which is slated to end in early September, leaving several major energy proposals to be taken up next year.

Sparked by natural gas prices that remain lower than in recent years, the Canadian energy industry is bracing for a prolonged lull in natural gas drilling, with field employers quietly letting staff go after giving up hope for a speedy recovery of producer spending.

Sparked by natural gas prices that have been lower than in recent years, the Canadian energy industry is bracing for a prolonged lull in natural gas drilling, with field employers quietly letting staff go after giving up hope for a speedy recovery of producer spending.

After waiting for 30 years, the pro-industry faction in Canada’s Northwest Territories refuses to let rising costs and prolonged regulatory dueling freeze the hopes for an arctic natural gas production and pipeline development.

After waiting for 30 years, the pro-industry faction in Canada’s Northwest Territories refuses to let rising costs and prolonged regulatory dueling freeze the hopes for an arctic natural gas production and pipeline development.

Despite a prolonged outage at Palo Verde Nuclear Generating Plant in Arizona, Albuquerque, NM-based PNM Resources Wednesday reported increased second quarter profits of $17.4 million, or 25 cents/diluted share, compared with $12.5 million, or 20 cents/diluted share, for the second quarter in 2005.