Weathering

A new analysis of U.S. Census Bureau data shows states with significant oil and natural gas resources did the best in weathering the recession, which ran from December 2007 to June 2009.

After weathering the U.S. Environmental Protection Agency’s draft report late last week, which claimed that the groundwater in Pavillion, WY, contains chemicals that are normally used in natural gas production practices, such as hydraulic fracturing (fracking), Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corp., went on offense Monday, noting that many of the EPA’s findings from its recent deep monitoring wells, including those related to any potential connection between fracking and Pavillion groundwater quality, “are conjecture, not factual, and only serve to trigger undue alarm.”

After weathering the U.S. Environmental Protection Agency’s draft report late last week, which claimed that the groundwater in Pavillion, WY, contains chemicals that are normally used in natural gas production practices, such as hydraulic fracturing (fracking), Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corp., went on offense Monday, noting that many of the EPA’s findings from its recent deep monitoring wells, including those related to any potential connection between fracking and Pavillion groundwater quality, “are conjecture, not factual, and only serve to trigger undue alarm.”

Weathering a financially topsy-turvy 2008, Kinder Morgan Energy Partners LP (KMP) posted full-year 2008 net income of $1.3 billion, up 124% from $590.3 million in 2007, thanks in large part to the start-up of Rockies Express-West Pipeline (REX-West). However, due to some general economic factors, lower realized energy prices and “lost business” due to hurricanes, the North American pipeline transportation and energy storage company recorded 4Q2008 net income of $284.6 million, which was down 2.9% from the $293.3 million during 4Q2007.

Weathering a financially topsy-turvy 2008, Kinder Morgan Energy Partners LP (KMP) posted full-year 2008 net income of $1.3 billion, up 124% from $590.3 million in 2007, thanks in large part to the start-up of Rockies Express-West Pipeline (REX-West). However, due to some general economic factors, lower realized energy prices and “lost business” due to hurricanes, the North American pipeline transportation and energy storage company recorded 4Q2008 net income of $284.6 million, which was down 2.9% from the $293.3 million during 4Q2007.

After weathering the extended cold chill over the second half of January, it appears that at least part of the country is not out of the woods yet as another cold front is bearing down in some areas of the East. The National Weather Service’s 8-14 day outlook as of Feb. 7 called for normal to below normal temperatures across the East and Midwest, while the Southwest is expected to register above normal temps.

After weathering the extended cold chill over the second half of January, it appears that at least part of the country is not out of the woods yet as another cold front is bearing down in some areas of the East. The National Weather Service’s 8-14 day outlook called for normal to below normal temperatures across the entire country, except for Florida, which is expected to enjoy above normal readings.

Just like a hurricane sends offshore rig crews to shore, atempest on the stock market can drive investors to the relativesafety of utility stocks. While many energy company stock pricesare buckling under the weight of the declining market, some utilitystocks are faring rather well, thank you. Duke Energy is anexample.