Traditional

Given time, oil and natural gas prices will come back in line with their traditional 6:1 energy-equivalent pricing. Whether oil prices decline or gas prices rise remains to be seen, but BP CEO Tony Hayward said he thinks it will be a bit of both.

Given time, oil and natural gas prices will come back in line with their traditional 6:1 energy-equivalent pricing. Whether oil prices decline or gas prices rise remains to be seen, but BP CEO Tony Hayward said he thinks it will be a bit of both.

With 10 weeks to go in the traditional storage injection season, the bears are picnicking at the expense of exploration and production (E&P) companies, feasting on the rise in domestic natural gas production, a large storage overhang, continued high operating costs and the current credit market woes.

Sierra Pacific Resources executives are resisting U.S. Senate Majority Leader Harry Reid’s (D-NV) call for a national moratorium on construction of traditional coal-fired power plants, such as the Nevada utility holding company’s proposed Ely Energy Center in eastern Nevada.

Sierra Pacific Resources executives are resisting U.S. Senate Majority Leader Harry Reid’s (D-NV) call for a national moratorium on construction of traditional coal-fired power plants, such as the Nevada utility holding company’s proposed Ely Energy Center in eastern Nevada.

The world is not running out of energy resources, but it’s unlikely that traditional oil and natural gas resources will be sufficient to meet the growing global demand for energy through 2030, the National Petroleum Council (NPC) says in a draft report.

The House last Thursday passed by a wide margin energy legislation (HR 6) that is a major blow to traditional oil and natural gas producers, but a significant boon to makers of renewable and alternative energy fuels. A key Senate energy panel, meanwhile, took its first look at problems with the royalty-collection practices in the Gulf of Mexico.

The House Thursday passed by a wide margin energy legislation (HR 6) that is a major blow to traditional oil and natural gas producers, but a significant boon to makers of renewable and alternative energy fuels. A key Senate energy panel, meanwhile, took its first look at problems with the royalty-collection practices in the Gulf of Mexico.

Despite record-tying natural gas storage levels with a month still left in the traditional injection season, November natural gas futures climbed for the sixth consecutive session Friday as funds continued to cover their short positions and traders factored in a major incursion of cold air into the Midwest this week. After trading within a $6.060 to $6.520 range, the prompt month closed at $6.427, up 12.9 cents on the day and a whopping 80.7 cents higher for the week.