Turning the tables on Republicans, who have been relentless in their attacks on the administration’s energy policies, President Obama last week called on Congress to provide funding for his five-part plan to combat manipulation, fraud and excessive speculation in the energy markets. While the oil market is the primary target of the president’s plan, the administration effort has implications for natural gas traders and contracts.
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Obama Seeks More CFTC Funding to Crack Down on Manipulation
In an attempt to turn the tables on Republicans, who have been relentless in their attacks on the administration’s energy policies, President Obama Tuesday called on Congress to provide funding for his five-part plan to combat manipulation, fraud and excessive speculation in the energy markets, particularly the oil market. While the oil market is the primary target of the president’s plan, the administration effort does have implications for natural gas traders and contracts.
Still More Downside, Figures Show; December Slides
December futures continued their relentless retreat Wednesday as traders calculated that spot futures may have almost 18 cents more room to the downside and weather forecasts moderated again. At the close December had dropped 6.0 cents to $3.344 and January had shed 5.9 cents to $3.483. December crude oil vaulted $3.22 to $102.59/bbl.
Weaker Production Growth Needed, Analyst Says; November Tumbles
November natural gas posted a double-digit loss Tuesday as traders cited the relentless increase in production and lack of demand growth as continuing to thwart any price advance. At the end of the day November had fallen 13.5 cents to $3.553 and December had shed 11.5 cents to $3.788. November crude oil rose $1.96 to $88.34/bbl.
Drilling Carries Bolster Rig Count, Say Analysts
Shale gas basins are responsible for North America’s gas boom, but it’s producer joint ventures (JV) that are in part responsible for the seemingly relentless drilling in a low-price environment. JVs with drilling carries will help support drilling activity, supporting a rig count that will “only fall modestly in 2011,” Barclays Capital analysts said Tuesday.
Drilling Carries Bolster Rig Count, Say Analysts
Shale gas basins are responsible for North America’s gas boom, but it’s producer joint ventures (JV) that are in part responsible for the seemingly relentless drilling in a low-price environment. JVs with drilling carries will help support drilling activity, supporting a rig count that will “only fall modestly in 2011,” Barclays Capital analysts said last week.
Sweltering Eastern Heat Sparks Power Demand, But Not Gas Prices
With a relentless heat wave locked over much of the eastern United States, near-record electricity demand was recorded in New York state and PJM Interconnection’s 13-state and District of Columbia service area Tuesday, and temperatures Wednesday once again pushed demand to near-record levels. Despite the most recent heat wave, natural gas prices both in the cash and futures markets trailed lower Wednesday.
Prosecutor Attempts to Use Skilling’s Words Against Him
Attempting to prove a pattern of deception at Enron Corp., federal prosecutor Sean Berkowitz completed his relentless cross-examination of former CEO Jeffrey Skilling on Wednesday. But in four days of direct testimony and three days of cross-examination, Skilling maintained that he either didn’t know, didn’t remember or wasn’t involved in any of the alleged misdeeds at the company.
Over-Zealous Environmentalists Undermine U.S. Energy Supply
The “relentless, aggressive and malicious” environmental public relations machine is succeeding in delaying and restricting natural gas development in the Rocky Mountains “with no regard for the impact on the national gas supply” — and the situation is getting worse, not better.
Over-Zealous Environmentalists Undermine U.S. Energy Supply
The “relentless, aggressive and malicious” environmental public relations machine is succeeding in delaying and restricting natural gas development in the Rocky Mountains “with no regard for the impact on the national gas supply” — and the situation is getting worse, not better.