Some

Think anything but gas is the way to go for the energyindustry’s future? Forget about it. Gas is where it’s at and whereit will continue to be for some time, Coastal CEO David Arledgetold a room full of producers in Houston at the Texas IndependentProducers & Royalty Owners Association’s (TIPRO) Tuesdayluncheon yesterday.

Several House lawmakers have endorsed legislation that isdesigned to provide “some real relief” to small oil and natural gasproducers that have been “so hard hit” by the historically lowcrude oil prices.

Some traders figured they might as well have taken off Tuesdayfor Martin Luther King Day; the cash market to which they returnedseemed about as quiet and low-key as it had been most of last week.Prices showed little variance from weekend numbers, with mostpoints registering as flat to less than a nickel up or down.

Flows to some customers of distributor Cascade Natural Gas weredisrupted Saturday when Northwest Pipeline’s 22-inch mainlineruptured near Pendleton, OR.

The futures market gave back some ground early in the dayFriday, but then managed to rebound late to trade to either side ofunchanged for the day. That enabled the December contract to settlefor the second day in a row at $2.553. Estimated volume was amoderate 47,537.

Southern Company Energy Marketing – the marketing joint ventureof Southern Company unit Southern Energy and Vastar Resources’Vastar Gas Marketing and Vastar Power Marketing — plans to movesome of its Houston employees, mainly traders, to its Atlantaoffice.

Southern Company Energy Marketing – the marketing joint ventureof Southern Company unit Southern Energy and Vastar Resources’Vastar Gas Marketing and Vastar Power Marketing – plans to movesome of its Houston employees, mainly traders, to its Atlantaoffice.

Tensions between Commissioner Curt Hebert Jr. and some fellowcommissioners, which have been rumored to be running high over thepast months, boiled over in the public meeting last week when thecombative regulator publicly labeled as “disingenu[ous] andintellectually dishonest” the majority’s decision in ahydroelectric dam decommissioning case.

Most cash points tended to ignore Thursday’s rebound on thefutures screen and instead focused on weak fundamentals. Many GulfCoast and Midcontinent pipes were leveling off from Wednesday’sprecipitous plunges, although several in the Gulf fell a few morecents. The losers included points in South and East Texas despite aferocious heat wave straining the state’s electric utilities.