Presumptive Republican presidential candidate Mitt Romney on Thursday unveiled an energy plan that he said would open more federal lands to oil and gas drilling and would make North America energy independent by 2020 — the final year of his second term in office — if he is elected this November.
Woes
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Gas Price Plummet Confirmed; Rebound Eyed For 2013
The flood of new natural gas supplies from U.S. shale exploration combined with stagnant demand due to the current U.S. economic woes lead natural gas prices to decline across the country by 38-49% from the first six months of 2011 to the first six months of 2012, according to research done by the Energy Information Administration (EIA). While prices are hovering near 10-year lows, at least one market analyst sees a light at the end of the depressed gas price tunnel in 2013.
Gas Prices Plummet 38-49% From 1H2011 Through 1H2012, EIA Finds
The flood of new natural gas supplies from U.S. shale exploration combined with stagnant demand due to the current U.S. economic woes lead natural gas prices to decline across the country by 38-49% from the first six months of 2011 to the first six months of 2012, according to research done by the Energy Information Administration (EIA).
EIA: Gas Price Plummet Confirmed With Drops of 38-49% from Last Year
The flood of new natural gas supplies from U.S. shale exploration combined with stagnant demand due to the current U.S. economic woes lead natural gas prices to decline across the country by 38-49% from the first six months of 2011 to the first six months of 2012, according to research done by the Energy Information Administration (EIA).
Wisconsin Energy Sees Slow Industrial Growth
Wisconsin seems caught right in the middle of current economic woes — not as well off as some Upper Midwest states, but decidedly better off than Michigan, its neighbor across the Great Lakes — and Wisconsin Energy Corp. (WEC) sees continuing signs of slow recovery of the industrial sector, according to CEO Gale Klappa.
ConocoPhillips Cuts Spending, Workforce
In a sign that global economic woes have begun to bite into some of the biggest oil and natural gas producers, ConocoPhillips has dramatically cut its 2009 capital budget and plans to cut 4% of its workforce, or around 1,350 people. The Houston-based oil major also said it would take $34 billion in one-time charges against its 4Q2008 earnings.
ConocoPhillips Cautioned on Replacing Reserves, Growing Output
In a sign that global economic woes have begun to bite into some of the biggest oil and natural gas producers, ConocoPhillips has dramatically cut its 2009 capital budget and plans to cut 4% of its workforce, or around 1,350 people. The Houston-based oil major also said it would take $34 billion in one-time charges against its 4Q2008 earnings.
McCain Pledges to Tackle Energy on ‘Every Front’
Republican presidential contender John McCain pledged to carry out an all-out attack on the nation’s energy woes in his speech Thursday at the Republican National Convention.
Gas Hedges Backfire on Municipal Power Utilities
Global credit woes continue to seep into the public-sector utility space where the electrics made bold natural gas hedging plays in recent years, and at least one of the major ratings agencies, Moody’s Investors Service, on Thursday downgraded several of the utilities in California and elsewhere around the nation. The hedges were bad enough that one municipal said it was closing up its hedging program.
Gas Hedges Backfire on Municipal Power Utilities
Global credit woes continue to seep into the public-sector utility space where the electrics made bold natural gas hedging plays in recent years, and at least one of the major ratings agencies, Moody’s Investors Service, on Thursday downgraded several of the utilities in California and elsewhere around the nation. The hedges were bad enough that one municipal said it was closing up its hedging program.