Skyrocketing

Large investment banks and hedge funds were behind skyrocketing prices in oil and natural gas in 2008, according Sen. Bernie Sanders (I-VT), who wants the Commodity Futures Trading Commission (CFTC) to impose immediate position limits.

After three years of increased exploration drilling and skyrocketing lease rates, Ohio should soon see Marcellus Shale development drilling, according to one state official.

Upstream merger and acquisition (M&A) activity worldwide hit a record $107 billion in total asset deal value in 2010, which is 160% higher than in 2009, according to preliminary findings by research firm IHS.

Upstream merger and acquisition (M&A) activity worldwide hit a record $107 billion in total asset deal value in 2010, which is 160% higher than in 2009, according to preliminary findings by research firm IHS.

California’s major private-sector energy utilities have been unable to develop a policy on service shutoffs, which have been skyrocketing in recent months, so the state regulatory commission plans to mandate a new policy, according to comments Thursday by the state’s top regulator. Michael Peevey, president of the California Public Utilities Commission (CPUC), indicated that he and his colleagues will outline a new approach in February.

California’s major private-sector energy utilities have been unable to develop a policy on service shutoffs, which have been skyrocketing in recent months, so the state regulatory commission plans to mandate a new policy, according to comments Thursday by the state’s top regulator. Michael Peevey, president of the California Public Utilities Commission (CPUC), indicated that he and his colleagues will outline a new approach in February.

The cash market recorded higher prices at all points Thursday, largely due to October futures skyrocketing by 63.1 cents a day earlier. Hurricane-related supply losses appeared to be pinching a little harder as most Gulf Coast points achieved strong increases, and forecasts of freezing weather in the Northeast likely contributed some heating load to the market.

The “emotional stage” of the current crisis over skyrocketing oil prices is easing, New York Mercantile Exchange (Nymex) CEO James Newsome said during an earnings conference call last Thursday, and he expects to see more generalized energy measures proposed when Congress returns from its August recess.

The “emotional stage” of the current crisis over skyrocketing oil prices is easing, New York Mercantile Exchange (Nymex) CEO James Newsome said during an earnings conference call Thursday, and he expects to see more generalized energy measures proposed when Congress returns from its August recess.