Steep

With natural gas consumers across much of the U.S. facing potentially steep increases in their natural gas bills this winter, an energy attorney and former FERC general counsel, on Wednesday predicted that “at some point soon we will see somebody in Congress call for the reregulation of natural gas wellhead prices.”

The market paused to figuratively catch its breath with a mixed price performance Thursday following three days of climbing quotes in which the gains tended to get substantially larger each day. Various points ranged from almost 30 cents lower to a little more than 30 cents higher.

As the new year has brought steep mercury drops in many areas of the United States, many forecasters including AccuWeather.com, Weather 2000 and WSI Corp. are calling for the freeze to stick around for much of January.

As the new year has brought steep mercury drops in many areas of the U.S., Joe Bastardi, senior expert meteorologist for AccuWeather.com, said it is almost certain that for many people it’s going to be the coldest 20-day period experienced since the winter of 1996.

Although steep production declines from mature domestic gas fields have taken much of the blame for current skyrocketing gas prices, there’s actually a larger natural gas resource in the United States now than there was two years ago, according to a new assessment by the Potential Gas Committee, which is made up of 140 members from the gas industry, government agencies and academic institutions.

Although steep production declines from mature domestic gas fields have taken much of the blame for $10/MMBtu gas prices in two of the last three winters and the current 12-month futures strip of $5.66, there’s actually a larger natural gas resource in the United States now than there was two years ago, according to a new assessment by the Potential Gas Committee. The committee is made up of 140 members from the gas industry, government agencies and academic institutions.

CMS Energy last week reported steep losses in 2002 due mostly to impairments and write-downs associated with assets the energy company has sold or is in the process of selling to help restore its financial stability.

CMS Energy on Tuesday reported it incurred steep losses in 2002 due mostly to impairments and write-downs of the fair market value of assets that the energy company has sold or expects to sell in the near future to help improve its balance sheet.

Is the cash market staring into a price abyss? It may have seemed so to some traders Tuesday as dollar-or-more plunges in several markets (Northeast, Dominion, Michigan citygates, Dawn and Western Canada) led a continued overall cratering of cash numbers. Losses at other points tended to range from small (Rockies and San Juan Basin) to 80-90 cents (Chicago).