President Obama and Republican presidential nominee Mitt Romney wasted little time in clashing over energy issues in the second presidential debate last Tuesday, with the Obama administration’s record on oil and natural gas permitting on public lands triggering plenty of fireworks.
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President Obama and Republican presidential nominee Mitt Romney wasted little time in clashing over energy issues in the second presidential debate Tuesday, with the Obama administration’s record on oil and natural gas permitting on public lands triggering the most fireworks.
After ending a previous Overage Alert Day (OAD) Friday but saying a new one might become necessary soon, Florida Gas Transmission wasted little time before implementing a new OAD for market-area customers Saturday. The tolerance for negative daily imbalances was initially set at 20% that day but was increased to 25% Sunday and Monday.
August natural gas wasted no time in making its mark Monday on the futures market in its first regular session action as the front-month contract, shedding 16.1 cents to close at $3.944 as the fear premium associated with a possible storm in the Gulf of Mexico over the weekend fully dissipated.
Clashing directly with the White House again, California Gov. Arnold Schwarzenegger wasted no time Wednesday making public his continued opposition to lifting the moratorium on offshore oil/gas drilling along the coast of California and other coastal sates.
House Democrats have wasted little time in coming out with another bill that would fund renewable energy and energy conservation at the expense of oil and gas producers.
Entering the Thanksgiving semi-shortened holiday week, December natural gas futures wasted no time on Monday exploring the lower end of the recent $7.500 to $8.500 trading range. The prompt-month contract recorded a low of $7.785 before closing out the session at $7.787, down 21.4 cents on the day.
The new Congress wasted little time in taking action on the energy issue that always seems to draw the most headlines: drilling in the Arctic National Wildlife Refuge (ANWR) in Alaska. Rep. Edward Markey (D-MA) was joined by Rep. Jim Ramstad (R-MN) in introducing the Udall-Eisenhower Arctic Wilderness Act, which would designate the coastal plain of the Arctic National Wildlife Refuge as a wilderness area with permanent protections.
Following the long holiday weekend, traders on Monday wasted virtually no time getting their positions across as the December natural gas futures contract plummeted on its final day. After burrowing below the $11.030 support level (from Nov. 7) to record a trade at $10.880 just before 1:30 p.m. EST, the expiring prompt month rallied to go off the board at $11.180, down 44 cents for the day.
After settling near the day’s high on Monday, May natural gas futures wasted almost no time in reversing their course on Tuesday. After peaking at $7.39 in morning trade, the prompt month spent the rest of the session exploring lower, reaching a low of $7.085 just before settling at $7.094, down 21.5 cents on the day. With the recent uptrend now broken, some market experts believe that $7 futures might not be around much longer.