As sources had expected, the nearly stationary presence of a production-disrupting tropical depression off the Louisiana coast was outweighed by the impending significant reduction of air conditioning load in much of the market and the extra decline of industrial demand associated with a holiday weekend. The result was falling prices at nearly all points Friday.
Sources
Articles from Sources
Louisiana: Brown Dense Play Drawing Interest
The Pelican State has another oil and gas shale play in the works. Known as the Lower Smackover Brown Dense, the play spans portions of North Louisiana and southern Arkansas.
Industry Brief
A California bill (SB 489) to increase access to various clean energy sources, including biogas was passed out of the lower house Assembly’s Appropriations Committee earlier in August on a 12-4 vote with a “do-pass” recommendation. The measure’s author, Sen. Lois Wolk said the bill is designed to remove current barriers in the way of small-scale renewable energy development, and specifically gives farmers and food processors in the agricultural sector the ability to cut their businesses’ energy bills through more combined heat-power systems. SB 489 would enable all eligible renewable energy technologies — including biomass and biogas — to use the state’s net energy metering program that allows customers to offset some of their power usage with on-site generation. This is aimed at greatly expanding the benefits net energy metering to a wider group of energy producer/users.
SEC Said to Be Probing Possible ‘Overbooking’ of Shale Reserves
The Securities and Exchange Commission (SEC) “recently began serving” subpoenas on producers active in natural gas shale development, according to Baird Equity Research, which cited an “attorney advertisement” issued by Houston law firm Fulbright & Jaworski as its source.
New Jersey Pressures DRBC on Fracking Rules
New Jersey officials have told the Delaware River Basin Commission (DRBC) that the state might withhold its dues to the organization if it doesn’t enact rules governing hydraulic fracturing (fracking) within the Delaware River Basin by its next meeting in September.
Internal Review Critical of Times’ Shale Reporting Tactics
A New York Times article last month, which slammed the shale gas industry using unnamed industry and government sources, was sharply criticized earlier this month by the newspaper’s public editor.
NYT Editor Criticizes Shale Gas Story
A New York Times article last month, which slammed the shale gas industry using unnamed industry and government sources, was sharply criticized over the weekend by the newspaper’s public editor.
IEA Sees Shale-Gilded Golden Age for Gas
Unconventional gas supplies around the world, particularly those from shale basins, “may hold the key to expanding the long-term role of gas in the global energy mix,” the International Energy Agency (IEA) said in a new report released Monday.
Correction
In the story “EIA: Renewables Up, Gas Flat as Power Sources” (see Daily GPI, May 23), NGI incorrectly stated that the average price for natural gas used in power generation was $5.09/MMBtu a year ago. In fact, the average price paid for natural gas for power generation in February 2011 was $5.09/MMBtu, down 5.2% from the average price of $5.37/MMBtu paid in January 2011, and down 16% from the average price of $6.06/MMBtu paid in February 2010. NGI regrets the error.
Shale Gas Supplies Overrated, Report Alleges
Government and industry sources have grossly overstated future natural gas supplies in the United States, basing their estimates on unrealistic growth in supplies from shale gas plays, according to a report released Thursday by the San Francisco-based Post Carbon Institute, a nonprofit organization that promotes sustainability.