Turned

The leader of the political party that currently represents the opposition in New Brunswick is calling on the government to form a bipartisan committee on shale gas development and hydraulic fracturing (fracking) in the emerging Frederick Brook Shale.

December natural gas swan-dived Monday in moderate trading as traders note weather forecasts have turned less supportive than earlier, production continues to outstrip modest demand and buyers remain unmotivated. At the close December had fallen 12.6 cents to $3.458 and January had retreated 9.6 cents to $3.600. December crude oil dropped 85 cents to $98.14/bbl.

Election Day in Pennsylvania turned out to be a mixed bag over the issue of hydraulic fracturing (fracking) in the Marcellus and Utica shales, with voters soundly defeating referendums that would have banned the practice in Peters Township and the City of Warren, but overwhelmingly supporting a similar measure in the Borough of State College.

Hurricane Irene turned out the lights on millions of East Coast residents and in doing so cut demand for natural gas by about 2.8 Bcf, according to an analysis by Bentek Energy LLC. The firm on Aug. 29 said the storm dropped gas demand by 1.3 Bcf in the Northeast since the previous Saturday (Aug. 27) and another 0.8 Bcf of demand loss was expected. About 0.7 Bcf of demand had been lost in the Southeast. Analysts at Canaccord Genuity Inc. also noted the storm’s gas demand destruction. “…[G]as-fired generation has declined by 2-plus Bcf/d over the past couple days, with the heaviest declines, not surprisingly, occurring in the Southeast and Mid-Atlantic regions,” the firm said. “At the same time, precautionary refinery shutdowns in conjunction with activity-limiting flooding suggest industrial demand is likely to see some degradation in these regions as well. Putting it all together, Irene was clearly a net bearish event for the gas complex and, depending on the length of outages, will likely lead to a cumulative natural gas demand loss of 30-plus Bcf over the next couple [of] weeks.”

The grass has long since turned brown in Texas, with many residents now restricted as to when they can water lawns. However, in most cases municipal water curtailments have yet to reach levels that affect water takes by contract users, such as oil and gas producers.

The grass has long since turned brown in Texas, with many residents now restricted as to when they can water lawns. However, in most cases municipal water curtailments have yet to reach levels that affect water takes by contract users, such as oil and gas producers.

Hurricane Irene turned out the lights on millions of East Coast residents and in doing so cut demand for natural gas by about 2.8 Bcf, according to an analysis by Bentek Energy LLC.

The Commodity Futures Trading Commission (CFTC) “turned an important corner” this summer in issuing final rules to implement the Dodd-Frank Wall Street Reform and Consumer Act and has set an aggressive agenda for this fall, said Chairman Gary Gensler.

The Commodity Futures Trading Commission (CFTC) “turned an important corner” this summer in issuing final rules to implement the Dodd-Frank Wall Street Reform and Consumer Act and has set an aggressive agenda for this fall, said Chairman Gary Gensler.