A lawsuit that sought an extensive environmental review of hydraulic fracturing (fracking) in the Delaware River Basin by the State of New York and a coalition of environmental groups has been dismissed by a federal judge. However, the ruling left open to question whether an environmental assessment of the basin may be required in the future.
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Capping off a string of regulatory actions that have been favorable to the oil and natural gas industry — and somewhat embarrassing to the Environmental Protection Agency (EPA) — the regulator has said it will delay the release of final air pollution standards for hydraulic fracturing (fracking) for two weeks.
Recent sharp gas futures declines have undercut a second hedge fund in as many months. Greenwich, CT-based Amaranth Advisors LLC revealed last week that bad bets in natural gas futures have cost the company about 65% of its $9.5 billion asset value. Even more troubling is that other funds could follow, according to industry sources.
It appears that the recent volatility in natural gas markets has undercut its second hedge fund in as many months as reports on Greenwich, CT-based Amaranth Advisors LLC, which has $7.5 billion in assets under management, said year-to-date losses might exceed 35% (more than $2.625 billion) due to last week’s plunge in natural gas prices.
Williams’ affiliates Transcontinental Gas Pipe Line and Williams Field Services (WFS) manipulated the cost of gathering services by wielding their “collective market power” over the interstate gas transportation path through the spun-down North Padre Island (NPI) facilities and Transco’s IT-feeder system, according to an initial decision issued by Administrative Law Judge Lawrence Brenner.