Rein

Low natural gas prices and the depressed global economy continued to pressure U.S. natural gas producers to rein in operations, according to a recent report from Baker Hughes, which showed that the number of rigs actively searching for gas within the United States during the week ending April 17 dropped by 30 to 760, a level of activity not seen in more than six years.

Global offshore energy spending will rise by almost one-third between now and 2013 versus 2004-2008, despite cuts in capital spending budgets, according to an analysis by Douglas-Westwood.

Low natural gas prices and the depressed global economy continued to pressure U.S. natural gas producers to rein in operations, according to a recent report from Baker Hughes, which showed that the number of rigs actively searching for gas within the United States during the week ending April 17 dropped by 30 to 760, a level of activity not seen in more than six years.

Global offshore energy spending will rise by almost one-third between now and 2013 versus 2004-2008, despite cuts in capital spending budgets, according to an analysis by Douglas-Westwood.

As Congress debated measures to rein in “excessive” energy futures market speculation last week, an Interagency Task Force on Commodity Markets, chaired by the Commodity Futures Trading Commission (CFTC), released an interim staff report that found fundamental supply and demand factors are largely the cause of escalating oil prices in the futures market.

A House Resources subcommittee voted out legislation to the full committee that would rein in the president’s ability to prohibit oil and natural gas production and mining activities on public lands by declaring them as national monuments.

Rep. Joe Barton’s (R-TX) emergency legislation for California and FERC’s decision last week to rein in prices on emergency spot transactions in the state’s wholesale power market were broadsided by Democrats on the House Energy and Air Quality Subcommittee Tuesday.