Warming

The Obama administration’s final decision on the controversial Keystone XL oil pipeline is yet to be revealed, but a significant majority of Americans favor its construction, according to the results of a survey released Tuesday by the Pew Research Center.

So far, it looks like another mild winter is underway, but that is likely to change in a couple of weeks. A sudden warming of the stratosphere — six to 30 miles above the ground — in the North Pole is going to push cold air southward, according to AccuWeather.com.

So far, it looks like another mild winter is underway, but that is likely to change in a couple of weeks. A sudden warming of the stratosphere — six to 30 miles above the ground — in the North Pole is going to push cold air southward, according to AccuWeather.com.

Cash quotes overall averaged about 2 cents higher Monday as East and Northeast points were forecast to endure a slight warming but other areas of the country such as the Midcontinent saw nominal price changes. Futures markets seemed little fazed by the building Tropical Storm Isaac and at the close September had shed 4.9 cents to $2.653 and October had dropped 6.1 cents to $2.673. October crude oil fell 68 cents to $95.47/bbl.

An emerging El Nino event — the warming of water temperatures in the central and equatorial Pacific Ocean — will bring warmer-than-normal temperatures to the eastern United States in September and October and could keep much of the West cooler than normal, according to forecasters at Andover, MA-based Weather Services International (WSI). And that same El Nino event could bring above-normal snowfall to portions of the eastern United States during the 2012-2013 winter season, a second forecaster said.

An emerging El Nino event — the warming of water temperatures in the central and equatorial Pacific Ocean — will bring warmer-than-normal temperatures to the eastern United States in September and October and could keep much of the West cooler than normal, according to forecasters at Andover, MA-based Weather Services International (WSI).

Warming trends due Thursday in the South along with much of the Midwest and Rockies caused enough diminution of heating load to push prices a few cents lower at a modest majority of points Wednesday. However, forecasts of windy snow showers and lows generally in the 30s kept quotes moving much higher in most of the Northeast, with several citygates again recording dollar-plus advances.

December natural gas fell Monday as pervasive forecasts of near-term warming prompted traders to follow the course of funds and managed accounts and market bulls were kept on the defensive. At the close December had fallen 8.7 cents to $3.696 and January had dropped 8.9 cents to $3.803. December crude oil gained $1.26 to $95.52/bbl.

Canadian industry interest in arctic drilling is warming up in the regulatory thaw signaled by the National Energy Board (NEB) with its December approval of the Mackenzie Gas Project (see related story), but the rigs will remain frozen out of offshore prospects until further notice.