If the United States wants to maintain its current standard of living, it is going to have to become a bigger player in the global gas market by importing more liquefied natural gas (LNG), Federal Reserve Chairman Alan Greenspan told a House panel last Tuesday.
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Greenspan: Lofty Gas Prices Pushing U.S. into Role of Large LNG Importer
If the United States wants to maintain its current standard of living, it will have to become a bigger player in the global gas market by importing more liquefied natural gas (LNG), Federal Reserve Chairman Alan Greenspan told a House panel Tuesday.
Cash Falls on Weekend Demand Decline, Despite Futures Rally
Cash prices moved sharply lower on Friday for the Columbus Day weekend despite the surprisingly rapid rise in the natural gas futures market. While November futures ended the day up more than 30 cents, mild weekend weather and weak demand left cash with nowhere to go but down. Most points tumbled 10-20 cents, which put many locations back down near bidweek levels.
U.S. Gas Production Declines for Fifth Quarter, Prices Not Expected to Fall
The continued slowdown in capital spending by U.S. producers will keep pushing natural gas production down at a rate of 1-1.5% per quarter “for the foreseeable future,” but the decline also will sustain higher gas prices, according to two investment analyst groups.
U.S. Gas Production Declines for Fifth Quarter, Prices Not Expected to Fall
The continued slowdown in capital spending by U.S. producers will keep pushing natural gas production down at a rate of 1-1.5% per quarter “for the foreseeable future,” but the decline also will sustain higher gas prices, according to two investment analyst groups.
Enron Stock Falls Another 20.8% to Lowest Level Since 1992
Enron Corp.’s stock lost another 20.8% on Tuesday in late trading on the New York Stock Exchange, pushing the Houston-based energy trader to its lowest level since 1992. The stock lost $2.86 from Monday’s close, finally ending at $10.95 in the10th straight day of losses. The last time Enron traded below $11 was in July 1992, when it was mostly a pipeline company and a long way from being the largest energy trader in the world.
Reliant Plans for Retail ‘Negawatts’ Exchange
Reliant Energy is pushing to have in operation by mid-June a retail “negawatts” exchange program that it claims will significantly reduce the threat of forced electric outages this summer in the out-of-control California market and 11 other states that make up the Western Interconnection.
Reliant Plans for Retail ‘Negawatts’ Exchange by Mid-June
Reliant Energy is pushing to have in operation by mid-June a retail “negawatts” exchange program that it claims will significantly reduce the threat of forced electric outages this summer in the out-of-control California market and 11 other states that make up the Western Interconnection.
Mexico’s Fox Pushing For Energy Reforms
Mexican President Vicente Fox said that he will push strongly to allow private investment in the country’s state-run electricity commission because without it, the country will have to practically beg for help from the United States to meet its energy needs. He insisted, however, at an economic summit in central Mexico last week that there are no plans to privatize the country’s state-run electricity commission or its state-run oil company.
Futures Tumble Lower Amid Neutral Storage Figures
After pushing higher but failing to fill in a key gap on thedaily chart, the March contract sifted lower yesterday as tradersset their sights on stubborn support in the $5.62 area. As it turnsout, $5.62 was little more than a speed bump as prices dippedeasily below that level in a post-AGA sell-off. The March contractwas hit the hardest, tumbling 50.1 cents to close at $5.518.