Thin

Voters in New York still support natural gas drilling in the Marcellus Shale by a thin margin, 45-41%, because they believe the economic benefits outweigh environmental concerns, according to the latest Quinnipiac University poll.

Utility customer purported savings of more than $1.1 billion, development of North America’s largest thin-film solar power installation in operation and contributions of more than $16 million to nonprofit organizations and families in need are the highlights of last year’s operations at San Diego-based Sempra Energy, which recently published its first corporate responsibility report. “Powering the Every Day” focused on the energy holding company’s efforts in sustainability, such as environmental stewardship, employee development, diversity and philanthropy. Efforts to lower environmental impacts of energy operations, such as reducing generation plant emissions and increasing renewable energy and energy efficiency programs were outlined in the report, which is available at www.sempra.com under “Corporate Responsibility.”

Trading within a thin range, as a number of traders already had their sights set on the long holiday weekend, December natural gas futures on Tuesday dropped back below the psychological $8 level to record a low of $7.910 before closing at $7.988, down 3.1 cents on the day.

Ontario’s power grid skated on thin ice for much of last week as the province grappled with high temperatures, record-breaking power demand and labor strife that threatened to take much-needed generating units offline.

Trading within a fairly thin range on Tuesday, July natural gas futures notched a high of $7.580 and a low of $7.435 before settling at $7.474, down 19.6 cents for the day. Natural gas futures appeared to be loosely following crude’s action during the session, where the petroleum contract seemed to dip, recover, then dip again.

Trading within an extra thin 6-cent range, June natural gas futures on Friday appeared to be taking the day off to regroup. After trading just above or below Thursday’s settle for the entire session, the prompt month ended up settling at $6.343, down 1.4 cents on the day and 19.3 cents lower for the week.

With a new cold front already freezing the Midwest and similar conditions either moving into or approaching the South and Northeast, prices were on the rebound Wednesday everywhere except for a flat Iroquois Zone 2 and at Northern Natural-Ventura, which had been the sole stronger point the day before. Most gains were in double digits and ranged as high as 40 cents or so, but a few rose by only a nickel or slightly less.

Gas production looks a little thin for the third quarter with 18 companies (22% of total U.S. production) so far reporting volumes (8,865 MMcf/d) down 0.3% from the second quarter and 7.3% from year-ago levels, according to statistics compiled by Thomas Driscoll of Lehman Brothers.

Gas production looks a little thin for the third quarter with 18 companies (22% of total U.S. production) so far reporting volumes (8,865 MMcf/d) down 0.3% from the second quarter and 7.3% from year-ago levels, according to statistics compiled by Thomas Driscoll of Lehman Brothers.