Wave

December blizzards in the Plains, Mid-Atlantic and New England and the wave of icy air that roared out of Canada and across the United States as far south as the Gulf Coast last week are the precursors to what could be the worst winter in 25 years, according to AccuWeather.com Chief Long Range Forecaster Joe Bastardi.

Analysts who have been predicting that a wave of liquefied natural gas (LNG) is coming to U.S. shores have more than a little in common by now with “the boy who cried wolf.” Still, market watchers at Barclays Capital and elsewhere are saying next year is the year that more global liquefaction capacity will come online and flood the Atlantic Basin with supplies.

Analysts who have been predicting that a wave of liquefied natural gas (LNG) is coming to U.S. shores have more than a little in common by now with “the boy who cried wolf.” Still, market watchers at Barclays Capital and elsewhere are saying next year is the year that more global liquefaction capacity will come online and flood the Atlantic Basin with supplies.

There’s no doubt among executives in the liquefied natural gas (LNG) business that a wave of imports is heading for U.S. terminals later this year. And while the U.S. is the market of last choice for global LNG producers, some terminals offer a richer netback than others, namely those on the East Coast, speakers at a Houston conference said Thursday.

Constellation Energy Group is facing a wave of lawsuits from shareholders who are seeking to block the company’s $4.7 billion buyout by Berkshire Hathaway’s MidAmerican Energy Holdings Co. and who claim that Constellation Energy inflated its financial results and intentionally mislead investors.

Despite a significant heat wave expected to have engulfed most of the U.S. by the end of the weekend, prices fell Friday at nearly all points. The coming jump in cooling load was trumped by the 12.9-cent downturn by September futures a day earlier and the loss of industrial demand in a weekend market. Also, the Northeast was due to stay relatively mild until early this week, and the Midwest would get cooler Saturday before regional temperatures began ascending Sunday.

Offshore drilling opponent Sen. Bill Nelson (D-FL) Thursday vowed to take steps to stop the Bush administration’s plans for a new wave of oil and natural gas drilling off the coast of Florida and other areas that currently are off-limits.

Cash market points were lower across the country Wednesday as the eastern heat wave of the last few days waned and traders digested two consecutive down days of futures values.

As a heat wave continued to grip most of the eastern third of the United States, cash market points were a little less unanimous on Tuesday in terms of price direction than they were on Monday, when they were almost universally higher. Taking their cue from Monday’s 8.9-cent drop in near-month natural gas futures, most eastern points and Gulf Coast points saw drops, while the Midcontinent and western locations saw continued strength.