Zoomed

Natural gas as a transportation fuel has zoomed around the map of North America in August, capitalizing on a continuing price advantage at the pump even with recent falling gasoline prices. Separately, last Thursday, a major U.S. provider of gas transportation fuel and fueling infrastructure received a $150 million investment from three global private investment firms.

Natural gas as a transportation fuel has zoomed around the map of North America in August, capitalizing on a continuing price advantage at the pump even with recent falling gasoline prices.

Oil/gas production profits dropped, but electric generation zoomed upward allowing Rapid City, SD-based Black Hills Corp. Thursday to report third quarter profits of $22.3 million, or 66 cents/share, compared to red ink for the same period last year (a loss of $23.9 million, or 73 cents/share). For the first nine months this year, net income was $60.2 million, or $1.80/share, compred with $6.6 million, or 20 cents/share, for the same period in 2005.

Cash prices zoomed higher by a quarter or more at many eastern points Monday in what one source called a purely screen-led burst of bullishness. Western markets also rose, but by varying amounts; Rockies quotes saw gains on either side of a dime, while San Juan-Blanco joined a couple of Northeast citygates in recording the day’s biggest increases of nearly 40 cents. California, Permian/Waha and Pacific Northwest points tended to match the overall market by rising 20-30 cents.