February natural gas was tackled for a loss Tuesday as traders recited the same causative factors of unsupportive weather and a storage surplus that refuses to stop growing. At the close February had given up 18.2 cents to $2.488, which is the lowest front-month settlement since March 5, 2002.
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El Paso Case, California Market Problems Tackled by House Panel
Top energy regulators and industry officials debated the causes of last year’s record high gas prices in California during a House subcommittee hearing last week that featured a thorough review of the El Paso market manipulation case and all the issues contributing to the serious natural gas market malfunction. FERC Chairman Pat Wood said he does not see a need for legislative action. He believes last year’s high gas prices were the result mainly of multiple supply and demand factors and a mismatch between interstate and California intrastate pipeline capacity, which state LDCs and regulators are in the process of correcting.
October 22, 2001
El Paso Case, CA Market Problems Tackled at House Hearing
In a congressional hearing that featured a thorough review of the El Paso market manipulation case and all the issues contributing to the serious natural gas market malfunction last year in California, FERC Chairman Pat Wood told a House Government Reform subcommittee chaired by Doug Ose (R-CA) that he does not see a need for new legislation.
October 17, 2001
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