U.S. Coast Guard Rear Admiral James A. Watson IV has been tapped to be director of the Interior Department’s Bureau of Safety and Environment Enforcement (BSEE). Watson will assume his new post on Dec. 1, succeeding Michael R. Bromwich. Bromwich will stay on through December as counselor to Interior Secretary Ken Salazar to ensure a smooth transition of leadership. BSEE is one of two agencies that were created to succeed the Bureau of Ocean Energy Management, Regulation and Enforcement on Oct. 1 (see NGI, Sept. 19). It is responsible for enforcing safety and environmental regulations for oil and natural gas operations on the Outer Continental Shelf, including permitting and research, inspections, offshore regulatory programs, and oil spill response. Watson currently is the Coast Guard’s director of prevention policy for marine safety, security and stewardship in Washington, DC. He served as deputy commander of the Coast Guard Atlantic Area Command in April 2010. And in June 2010 he was designated the federal on-scene coordinator for all-of-government response to the Deepwater Horizon oil spill in the Gulf of Mexico.
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Coast Guard Rear Admiral Picked to Head BSEE
Interior Secretary Ken Salazar has tapped U.S. Coast Guard Rear Admiral James A. Watson IV to be director of the Bureau of Safety and Environment Enforcement (BSEE).
EIA: Louisiana Output Jumps 38% in Year Due to Shale
Shale gas production in the Haynesville and Marcellus shales was the bright production star in February, while output in the traditional, maturer regions fell due to cold weather and maintenance/repairs, according to the Energy Information Administration’s (EIA) monthly natural gas report.
Gustav Spares Gulf; Futures Drop Nearly 70 Cents
With Hurricane Gustav now in the rear-view mirror and tropical storms Hanna, Ike and Josephine all currently expected to steer clear of the Gulf of Mexico, energy futures across the board let off some steam on Tuesday. October natural gas spiraled 68.2 cents lower to close at $7.261/MMBtu while October crude dropped $5.75 to finish at $109.71/bbl.
Futures Jump Back Above $10 as Market Weighs Concerns Versus Facts
Just when it looked like $10/Mcf gas was firmly in the rear view mirror, May natural gas futures revisited the price level Monday as near-term weather forecasts are looking a little cooler than first thought. The prompt-month contract shot to a high of $10.190 before closing out the regular session at $10.101, up 30.1 cents from Friday’s close.
Futures Drop 30-Plus Cents on February Warm-Up Forecast
With Thursday’s record storage report withdrawal firmly in the rear-view mirror and a significant warm-up in the East looming for much of February, March natural gas futures went in search of lower prices Friday in a large way. The prompt-month contract put in a low of $7.720 before settling the day at $7.740, down 33.4 cents from Thursday’s close and 21.4 cents lower than the previous Friday’s finish.
Outlook: 2008 Gas Price Direction a Matter of ‘Whether We Get Weather’
As natural gas traders put 2007 firmly in their rear view mirrors, the focus now surrounds what exactly might be in store for prices in 2008. With traders widely agreeing that the days of $2-3/MMBtu are long gone, whether 2008 sees $5-6/MMBtu gas or $7-9/MMBtu gas will be largely influenced by the weather picture and whether increased liquefied natural gas (LNG) cargoes find their way to North America’s shores.
WSI Sees Late Spring/Early Summer Warmth for U.S.
With the 2006-2007 winter now mostly in the rear-view mirror, traders and meteorologists alike are turning their attention to what kind of temperatures spring will bring to the United States. According to Andover, MA-based WSI Corp., the April through June forecast is expected to average warmer than normal in all locations except for the Pacific Coast states, which could start the natural gas storage injection season sooner than normal, but push electricity loads high enough in June to be bullish for power prices in the Midwest markets.
WSI Sees Late Spring/Early Summer Warmth for U.S.
With the 2006-2007 winter now mostly in the rear-view mirror, traders and meteorologists alike are turning their attention to what kind of temperatures spring will bring to the United States. According to Andover, MA-based WSI Corp., the April through June forecast is expected to average warmer than normal in all locations except for the Pacific Coast states, which could start the natural gas storage injection season sooner than normal, but push electricity loads high enough in June to be bullish for power prices in the Midwest markets.
Most Prices Fall; Opal Outage Boosts Some West Points
With the extreme heat that has cooked much of North America over the past three weeks now in the market’s rear-view mirror and Tropical Depression Chris having faded into oblivion over Cuba during the weekend, most of the cash market continued to drop Monday. But several Rockies/Pacific Northwest/San Juan-Permian ranged from flat to about 60 cents in response to a total shutdown of the Opal (WY) Plant for Tuesday’s gas day (see Daily GPI, July 17).
