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The chairman of Energy Transfer Equity LP (ETE) said Thursday the merger with natural gas pipeline giant Southern Union Co. (SUG) will give the combined company more customer market access in U.S. shale gas plays and alleviate some growing takeaway issues.

The American Petroleum Institute (API), which represents major producers, has launched an advertising campaign this week that touts the importance of oil and gas production in rebuilding the U.S. economy.

A trade association that represents publicly traded partnerships has warned its members that the Obama administration is considering corporate-level taxation of pass-through entities, such as master limited partnerships (MLP). Such a change would have significant consequences for the midstream energy sector where numerous companies are MLPs.

The U.S. energy system is now dependent for more than 230,000 MW of power from fossil fuel-fired generation plants that are 40 or more years old, and that represents a $165 billion opportunity for newer, more efficient electric generation plants over the next five years, many of which could be fired by natural gas, Calpine Corp. CEO Jack Fusco told analysts last month at the independent power plant operator’s annual financial conference in Houston.

The U.S. energy system is now dependent for more than 230,000 MW of power from fossil fuel-fired generation plants that are 40 or more years old, and that represents a $165 billion opportunity for newer, more efficient electric generation plants over the next five years, many of which could be fired by natural gas, Calpine Corp. CEO Jack Fusco told analysts Tuesday at the independent power plant operator’s annual financial conference in Houston.

Petrohawk Energy Corp. charted 50% pro forma year-over-year reserves growth last year, ending 2010 with 3.4 Tcfe of estimated proved reserves, the company said. Shale plays led the charge, particularly with a 100% increase in production from the Haynesville and Bossier shales and a whopping 235% increase in the Eagle Ford in South Texas.

“Shaley” natural gas producers and Bakken oil explorers should be reporting “lots” of reserves additions as they roll out their year-end 2010 reports, the research team at Tudor, Pickering, Holt & Co. (TPH) said Friday.

The Environmental Protection Agency’s (EPA) regulation of carbon dioxide (CO2) and other greenhouse gas (GHG) emissions, which officially began Sunday, represents an “unconstitutional power grab that will kill millions of jobs — unless Congress steps in,” said Rep. Fred Upton (R-MI), the incoming chairman of the powerful House Energy and Commerce Committee.

The American Gas Association (AGA), which represents natural gas utilities, said it was encouraged by the deal that President Obama and congressional Republicans have reached to extend the Bush-era tax cuts, including a reduction in the maximum dividend tax rate to 15% for an additional two years.