While Pacific Gas and Electric Co. (PG&E) has proven to be a “solid, defensive” investment play in the midst of national and global economic troubles, California’s deep budget crisis raises new challenges, according to PG&E’s CEO Peter Darbee.
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Friday Trading Caps Weekly Sweep of Higher Prices
As a marketer had anticipated a day earlier, cash prices capped a week of solid advances Friday by recording increases throughout the market. A bit of extra chill was due in the Midwest and Rockies over the weekend, but otherwise forecasts remained about as benign for gas demand as they were earlier in the week. Industrial load’s weekend decline obviously had little impact.
Market Sees Double-Digit Gains Across the Board
It wasn’t much, but the market could claim a little more of both heating and cooling load in posting solid double-digit increases at all points Thursday. However, cash quotes continued to depend more on prior-day screen support and a general sense that global economic woes may be starting to lessen in extending the week’s rally into its fourth day.
Heating Load Boosts Nearly All Points — Barely
Based on some solid increases in heating load in parts of the West and not quite as substantial gains in other areas, prices were flat to higher at virtually all points Wednesday. The cash market also had meager prior-day screen support from the 5.3-cent gain by April futures on Tuesday.
Democratic In-Fighting in House, Senate Follows Election
Just days after Democrats turned in a solid victory last week, a crack in the party’s armor surfaced as firebrand Rep. Henry Waxman (D-CA) challenged veteran Rep. John Dingell (D-MI), who at 53 years in the House is considered the dean of the chamber, for the chairmanship of the House Energy and Commerce Committee. Senate Democrats were engaged in a little in-fighting of their own as well.
Power Grab Erupts for Chair of House Energy Panel
Just days after Democrats turned in a solid victory, a crack in the caucus’ armor has surfaced as firebrand Rep. Henry Waxman (D-CA) has challenged veteran Rep. John Dingell (D-MI), who at 53 years in the House is considered the dean of the chamber, for the chairmanship of the House Energy and Commerce Committee.
Most Points Rally; Midcontinent Sees All-Time Low
A solid majority of points achieved rebounds Monday from across the board weekend plunges. The overall rally was considered largely driven by the previous Friday’s 35.2-cent spike in December futures (along with a little help from industrial load returning from its typical weekend drop) because weather fundamentals were weak for the most part.
Apache CEO: ‘Frenzied Boom Time Coming to a Halt’
Apache Corp.’s conservative spending strategy and solid credit rating proved a powerful tonic as the financial markets began to panic, CEO G. Steven Farris said last week.
Apache CEO: ‘Frenzied Boom Time Coming to a Halt’
Apache Corp.’s conservative spending strategy and solid credit rating have proved a powerful tonic as the financial markets began to panic, CEO G. Steven Farris said Thursday.
Most of Market Softer; Ike Aimed at Houston
Although several eastern points managed to keep rising Friday, a solid majority of the market was softer as the Houston area braced for what was expected to be a direct strike by Hurricane Ike. Offshore production outages rose by small amounts, but low demand based on generally moderate to cool weather negated the cumulative supply losses to some extent. The weekend decline of industrial load added to the overall bearish mood.