Turns

A canyon located in southeastern Utah — near where a Denver-based producer is conducting seismic natural gas exploration, which environmental groups are trying to stop — has made the list of the “Eleven Most Endangered Historic Places in America” for the current year.

After dropping to a low on the day of $6.58 in early trading, the June natural gas futures contract, in its last day as the prompt month, pulled itself back up during the afternoon to close at $6.680, down $0.004 for the day. The July contract closed at $6.732, down $0.008. About 88,586 contracts changed hands.

Natural gas-fueled vehicles (NGVs) are out, and hydrogen fuel-celled vehicles (FCV) are in. That became crystal clear last week as Energy Secretary Spencer Abraham announced that the Bush administration is “absolutely” committed to kick-starting a two-decade-long effort to create a global hydrogen-based economy that will use fuel cells as a major enabler.

Natural gas-fueled vehicles (NGVs) have not gone the way of the dodo bird, but with only 130,000 NGVs on the road today and the government’s attention now solely focused on hydrogen fuel-celled vehicles (FCV), that outcome could be on the horizon.

For both price and diversity reasons, coal-fired electric generation plants are destined to remain a key part of San Diego-based Sempra Energy’s future, although the company’s experience and history are deeply rooted in natural gas.

For both price and diversity reasons, coal-fired electric generation plants are destined to remain a key part of San Diego-based Sempra Energy’s future, although the company’s experience and history are deeply rooted in natural gas.

Prices achieved increases at all points Friday as returning colder weather in several areas superseded day-earlier energy futures as a prime influence. Advances ranged from about a dime to about a quarter (largely mirroring Thursday’s declines); the bigger ones of about 20 cents or more were concentrated at Northeast citygates, while the West saw most of the smaller ones in the low teens.

Hurricane Isabel left her calling card up and down the Mid-Atlantic and Southeastern parts of the U.S. on Thursday in the form of massive power outages, with 5.5 million businesses and homes estimated to have had their juice cut off as a result of the massive storm. Columbia Gas Transmission Corp. gave shippers advance notice Friday that it may have to call an operational flow order (OFO) because markets in southeastern Virginia were taking gas at abnormally low levels because of the power outages.

Deflated by the news that Hurricane Isabel would miss the Gulf of Mexico, the natural gas futures market sunk to new 10-day lows Monday morning as traders added to their already significant short holdings. However, after an initial flurry, selling failed to punch prices below support at $4.60, and the market shifted into a sideways-to-higher trading channel for the remainder of the session. October futures finished at $4.685, down 8.1 cents for the session, but in the upper half of its $4.62-725 trading band. At 50,461, estimated volume was light.