Resisting

After years of resisting special financial treatment for unconventional drilling, the Alberta government is showing signs of preparing to grant new breaks to kick-start activity that has to date largely bypassed Canada’s largest producing province.

Sierra Pacific Resources executives are resisting U.S. Senate Majority Leader Harry Reid’s (D-NV) call for a national moratorium on construction of traditional coal-fired power plants, such as the Nevada utility holding company’s proposed Ely Energy Center in eastern Nevada.

Sierra Pacific Resources executives are resisting U.S. Senate Majority Leader Harry Reid’s (D-NV) call for a national moratorium on construction of traditional coal-fired power plants, such as the Nevada utility holding company’s proposed Ely Energy Center in eastern Nevada.

Resisting the temptation to drop lower in concert with weaker cash prices, natural gas futures rebounded off early session lows Monday as traders bought contracts at levels that, in weeks to come, might prove to be bargains. The October contract finished at $3.399, up 13.4 cents for the session and within striking distance of last week’s $3.445 high. Meanwhile, Henry Hub cash prices for September dropped 14 cents to average $3.24 on the day.

After resisting for nearly two trading sessions the promptcontract finally caved to selling pressure late Tuesday as localtraders liquidated the last of their positions. On that sour notethe October natural gas futures contract completed its tenure asprompt month yesterday by slipping 7.2 cents to $2.56. Estimatedvolume was robust as 122,906 contracts changed hands.