Sounded

The board of directors of Russian natural gas giant OAO Gazprom sounded another blast on its shale gas alarm Tuesday, questioning the environmental and economic viability of the process that is overhauling North American markets and promising to do the same in Europe.

St. Patrick’s Day will be warm and mostly dry in the U.S., according to The Weather Channel (TWC). That sounded like as good a reason as any for gas prices to drop at nearly all points Monday, although the previous Friday’s 6.3-cent decline by April futures also contributed to the cash market softness.

Undeterred by lower commodity prices that slammed quarterly profits, Royal Dutch Shell sounded positively bullish last week, announcing that it plans to raise dividends and increase capital spending this year.

Undeterred by lower commodity prices that slammed quarterly profits, Royal Dutch Shell sounded positively bullish Thursday, announcing that it plans to raise dividends and increase capital spending this year.

Citing harsh economic impacts on the national economy from the post-hurricane run up of natural gas prices, the National Association of Manufacturers (NAM) Thursday sounded the call for “a second national energy bill” from Congress that would open up parts of the outer continental shelf to drilling. NAM’s President John Engler, the former governor of Michigan, said the manufacturers support a bill from Rep. Richard Pombo (R-CA) to lift the drilling restrictions.

The gong has sounded for the start of a widening debate in California over how to structure its electricity markets in the future. Legislative and regulatory initiatives are proposing a move to a core/noncore structure, and the stakeholders are lining up on all sides of the debate. It is not clear whether the state will opt for a regulatory, political or economic solution, or like its infamous 1996 electric restructuring law, make it a hybrid of all three.