Reality

Canada’s natural resources minister said his government is committed to seeing the Keystone XL Pipeline become a reality, and rebuked a possible effort by European officials to target the country’s oilsands by labeling it as a dirtier form of energy.

Canada’s natural resources minister said his government is committed to seeing the Keystone XL Pipeline become a reality, and rebuked a possible effort by European officials to target the country’s oilsands by labeling it as a dirtier form of energy.

Reality suggests that even with a “modest” decline in the U.S. natural gas rig count in 2012, structural drivers should “more than offset” the drop and gas supply growth even may accelerate over the coming year, the energy team with Raymond James & Associates Inc. said last week.

Reality suggests that even with a “modest” decline in the U.S. natural gas rig count in 2012, structural drivers should “more than offset” the drop and gas supply growth even may accelerate over the coming year, the energy team with Raymond James & Associates Inc. said late Monday.

The drilling moratorium may have been lifted in the Gulf of Mexico (GOM) to allow operators to get back to work, but in reality, that’s hardly the case, Chevron Corp. CEO John Watson said on Friday.

The drilling moratorium may have been lifted in the Gulf of Mexico (GOM) to allow operators to get back to work, but in reality, that’s hardly the case, Chevron Corp. CEO John Watson said on Friday.

The reality of seasonal autumn weather — with both heating and cooling load on the low side — began to exact a more bearish influence on the market Thursday, with most points falling by 2-3 cents to about 15 cents. Most numbers were close to flat, with other points ranging from unchanged to nearly a dime higher.

Due in part to some late book-squaring and a return to the reality of current fundamentals, November natural gas futures went off the board with a bang and not a whimper on Wednesday as the contract dropped 26.8 cents to terminate at $4.289. December futures declined by 21.6 cents to close at $5.066.

After nearly a week and a half of run-ups at all or nearly all points in the face of relatively little weather-based demand, the cash market finally bowed to the reality of its lack of fundamental support Wednesday by softening at a majority of points. The declines occurred despite substantive prior-day screen support in the form of Tuesday’s 14.7-cent gain by June futures. That likely limited most drops to about a dime or less.