Score

For those keeping score of the U.S. liquefied natural gas (LNG) export race, last week saw front-running Cheniere Energy move farther ahead, Sempra Energy expand its roster with some Japanese imports, and backers of Oregon’s Jordan Cove import-export project take a time out and drop its import plans.

Natural gas only has to make a small dent in the energy market shares of coal and oil to score major gains, say Canadian boosters of the cleanest fossil fuel — and they are picking up hammers with apparent government support at least in Ontario, where plans to phase out coal-fired power are speeding up.

Natural gas only has to make a small dent in the energy market shares of coal and oil to score major gains, say Canadian boosters of the cleanest fossil fuel — and they are picking up hammers with apparent government support at least in Ontario, where plans to phase out coal-fired power are speeding up.

April natural gas futures managed to score the largest gain since late January on Tuesday by jumping 21.8 cents to settle at $7.472 in active trading. The gain was the largest the April contract had made since Jan. 30 when it soared 68.3 cents to settle at $7.695.

The cash market was able to sustain mostly moderate price increases through a second day Thursday, but may be hard pressed to score a hat trick Friday after major retreats in Nymex’s energy futures complex. The gas screen fell nearly 20 cents in response to a government report showing that net storage refills were already under way last week.

For anyone who was keeping score, it seemed the Commodity Futures Trading Commission (CFTC) was collecting far more money from energy companies in penalties and settlements than the Federal Energy Regulatory Commission over the past year. But that’s not what the totals show. FERC, in fact, obtained over $100 million more from energy firms than the CFTC, according to the Department of Justice’s (DOJ) review of the second-year performance of the president’s Corporate Fraud Task Force.

For anyone who was keeping score, it seemed the Commodity Futures Trading Commission (CFTC) was collecting far more money from energy companies in penalties and settlements than the Federal Energy Regulatory Commission over the past year. But that’s not what the totals show. FERC, in fact, obtained over $100 million more from energy firms than the CFTC, according to the Department of Justice’s (DOJ) review of the second-year performance of the president’s Corporate Fraud Task Force.

Independent producer Magnum Hunter Resources Inc. has jumped on the wagon for what it hopes will be a long ride for higher natural gas and oil prices, by increasing its capital expenditure budget for 2003 by $10 million, to $125 million from $115 million. Most of the increased capital will be spent in the first quarter.

Independent producer Magnum Hunter Resources Inc. has jumped on the wagon for what it hopes will be a long ride for higher natural gas and oil prices, by increasing its capital expenditure budget for 2003 by $10 million, to $125 million from $115 million. Most of the increased capital will be spent in the first quarter.