The Department of Energy (DOE) has postponed the release of the second part of its study on the economic impact of exporting domestically produced liquefied natural gas (LNG) until year-end, which will keep the controversial issue from becoming a political football in the presidential election in November. Republicans generally support exports of LNG because of abundant domestic shale resources, while Democrats for the most part don’t for fear that exports would raise prices U.S. consumers pay for natural gas.
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DOE Delays Report on Economic Impact of LNG Exports
The Department of Energy (DOE) has postponed the release of the second part of its study on the economic impact of exporting domestically produced liquefied natural gas (LNG) until year-end, which will keep the controversial issue from becoming a political football in the presidential election in November. Republicans generally support exports of LNG because of abundant domestic shale resources, while Democrats for the most part don’t for fear that exports would raise prices U.S. consumers pay for natural gas.
Northeast Points Lead Broad Decline, Yet Futures Inch Higher
The cash market retreated on average by 6 cents Thursday as traders elected to do their deals ahead of the release of important government inventory figures. Eastern and Northeast points took the biggest hits as forecasters were calling for unseasonably cool weather to infiltrate the Midwest and Ohio Valley, while losses in California were limited as a heat wave was expected to stay through the weekend..
Traders Ready to ‘Stick a Fork’ in Natural Gas Market
Cash prices sank Friday overall on average of about a quarter as traders who had gotten their deals done Thursday before the release of Energy Information Administration (EIA) storage data picked up where they left off. They sold early and sold often, and all points suffered declines.
Cash Softens But Futures Swoon
Cash natural gas prices dropped about 5 cents overall Thursday as traders wrapped up most deals prior to the release of government storage data. Weakness was widespread with only a handful of Northeast and eastern points staying flat or showing slight gains.
Murkowski, EPA Head Spar Over Fracking Studies
The administration’s multi-agency approach to hydraulic fracturing (fracking) studies and the appearance of mission-creep is causing confusion within the oil and natural gas industry, according to some critics on Capitol Hill.
Market Diverges On Timing Issues; Futures Surge After EIA Report
Futures jumped Thursday following the release of government inventory data, but the surge occurred after most cash trading had taken place, leaving the illusion of divergent markets.
EQT Halts Huron Shale Drilling on Low Prices
EQT Corp. is suspending its Huron Shale program “indefinitely” in light of low commodity prices, the Pittsburgh company announced in a one line statement Friday.
Producers Hunker Down; Futures Penetrate Long-Term Support
February natural gas continued lower Thursday following the release of government inventory figures confirming traders’ estimates of an ever-growing surplus. The front-month contract broke below the $2.409 long-term support level from September 2009.
NatGas Futures Trading Cheaper than Coal for First Time Ever
February natural gas settled at a new 10-year low Wednesday as traders hinted that Thursday’s release of Energy Information Administration (EIA) inventory figures would likely prompt further declines even if the data was bullish relative to expectations.