Reasons

News that some of the world’s leading liquefied natural gas (LNG) exporters got together in Trinidad last week to discuss price fixing, a la OPEC, alarmed some gas industry officials in the United States.

High natural gas prices were cited by the Environmental Protection Agency (EPA) as one of the primary reasons that total U.S. greenhouse gas emissions rose by 0.6% in 2003 from 2002 levels. Rising gas prices caused electric power producers to switch from natural gas to burning more coal.

High natural gas prices were cited by the Environmental Protection Agency (EPA) as one of the primary reasons that total U.S. greenhouse gas emissions rose by 0.6% in 2003 from 2002 levels. Rising gas prices caused electric power producers to switch from natural gas to burning more coal.

For both price and diversity reasons, coal-fired electric generation plants are destined to remain a key part of San Diego-based Sempra Energy’s future, although the company’s experience and history are deeply rooted in natural gas.

For both price and diversity reasons, coal-fired electric generation plants are destined to remain a key part of San Diego-based Sempra Energy’s future, although the company’s experience and history are deeply rooted in natural gas.

Standard and Poor’s Rating Service explained the reasons for assigning a “B” rating and negative outlook on both El Paso Corp. and The Williams Cos. Inc. in a new report released on Friday. The two companies have “consistently underperformed in terms of meeting financial target expectations” mainly because of the poor performance of their marketing and trading divisions, which despite being either significantly reduced, as in Williams’ case, or on the fast track toward being completely dissolved, as in El Paso’s case, could continue to be a draw on cash, S&P said.

The House Energy and Commerce Committee has scheduled two days of hearings on Sept. 3 and 4 to explore the reasons for the massive cascading blackout that hit eight states and two Canadian provinces last week.

Whatever among several possible reasons was responsible for Tuesday’s sharp price upticks was losing its power Wednesday. The market was retreating across the board in movements ranging from flat to more than a dime lower. However, Algonquin citygates were the only points with declines exceeding a dime; other drops were mostly around a nickel or less. Sources could detect no signs of another rally being in the cards.

Without giving any reasons, California regulators again last Wednesday postponed action on Southern California Gas Co.’s proposal to free up 14 Bcf of previous cushion gas at two of its underground storage fields and sell the supplies on the open market. It was originally proposed in the days of shorter supplies and higher wholesale prices. A vote Wednesday had been expected, according to one of the California Public Utilities Commissioners, Geoffrey Brown.