Raises

Giving a nod to robust production growth from U.S. unconventional gas plays and depressed commodity prices, a new report out of Fairbanks, AK, raises doubts about the prospects of a long-haul pipeline to tap Alaskan North Slope gas for delivery to Lower 48 markets.

Giving a nod to robust production growth from U.S. unconventional gas plays and depressed commodity prices, a new report out of Fairbanks, AK, raises doubts about the prospects of a long-haul pipeline to tap Alaskan North Slope gas for delivery to Lower 48 markets.

The Senate Thursday night passed by an overwhelming majority an energy bill that raises the fuel economy standard, increases the standard for production of renewable fuels and establishes higher energy efficiency standards.

The Senate last Thursday night passed by an overwhelming majority an energy bill that raises the fuel economy standard, increases the standard for production of renewable fuels and establishes higher energy efficiency standards.

Saying the proposed National Grid acquisition of KeySpan Corp. “raises many important questions and concerns,” the chairman of the Long Island Power Authority (LIPA) on Tuesday said that LIPA will seek to meet with National Grid and KeySpan to discuss various concerns LIPA has related to the merger at the earliest possible date. The United Kingdom’s National Grid on Monday said it plans to acquire KeySpan (see Daily GPI, Feb. 28).

With the worst of the latest blast of arctic cold having occurred over the holiday weekend and a modest warm-up under way, the cash market turned in a mixed performance Tuesday that was dominated by softening.

The Republican-led House on Wednesday passed by a slim margin a negotiated massive spending bill that only slightly raises funding for the Low-Income Home Energy Assistance Program (LIHEAP) in fiscal year 2006.

Natural gas pipeline partnership Northern Border Partners LP on Tuesday said strong gas prices and the gain from the sale of a Canadian pipeline stake will push its earnings forecast for 2004 about 10 cents above Wall Street estimates.

Updating its estimates for undiscovered technically recoverable resources (UTTR) underlying offshore waters on the Outer Continental Shelf (OCS), the Minerals Management Service (MMS) said last week that new exploration activities in the Gulf of Mexico and in the Scotian Basin offshore Canada have revealed that there is 12% more recoverable gas than estimated in 2000. The MMS now estimates that there are 76 billion barrels of oil and 406.1 Tcf of recoverable natural gas in federal offshore areas.