The natural gas storage report from the EIA for the week ending March 5th indicated that the amount of natural gas held in underground storage in the US fell by 52 billion cubic feet to 1,793 billion cubic feet by the end of the week, which left our gas supplies 257 billion cubic feet, or 12.5% below the 2,050 billion cubic feet that were in storage on March 5th of last year, and 141 billion cubic feet, or 7.3% below the five-year average of 1,934 billion cubic feet of natural gas that have been in storage as of the 5th of March in recent years..the 52 billion cubic feet that were drawn out of US natural gas storage this week was less than the average forecast of a 65 billion cubic foot withdrawal from an S&P Global Platts survey of analysts, and was also less than 72 billion cubic foot withdrawal from natural gas storage seen during the corresponding week of a year earlier, and less than the average withdrawal of 89 billion cubic feet of natural gas that have been pulled out of nat
CPRA backs proposal to boost Louisiana s share of offshore oil, gas revenue
Mark Schleifstein
A planned U.S. Senate bill to increase the amount of federal oil revenue shared with Louisiana and other Gulf Coast states got a vote of support from the Louisiana Coastal Protection and Restoration Authority.
The proposed Reinvesting in America s Shoreline Economies and Ecosystems Act would fulfill promises that Sens. Bill Cassidy, R-La., and Sheldon Whitehouse, D-R.I., made last summer to expand revenue sharing for coastal states under the Gulf of Mexico Energy Security Act.
The senators have not yet introduced the revenue sharing bill, which would also set up a similar revenue sharing program for wind energy generated in federal waters,.
White House deputy Press Secretary Karine-Jean Pierre disputes claims by some that President Biden s energy and climate crisis policies will cost thousands of jobs in Louisiana.
WASHINGTON, D.C. What thus far has been a four-year effort on the part of Sen. Marco Rubio, R-Fla., to keep oil and gas exploration out of the eastern Gulf of Mexico waters along Florida s coast is continuing.
Last week, Rubio reintroduced the Florida Shores Protection and Fairness Act, a bill that would extend a moratorium on oil and gas exploration in the eastern Gulf of Mexico until 2032, alleviating any potential negative effects on tourism.
The moratorium, established by Congress in the 2006 Gulf of Mexico Energy Security Act, had been scheduled to expire on June 30, 2022, but in September of last year, then-president Donald Trump signed an executive order extending the moratorium until 2032, and adding the Atlantic Ocean coasts of Florida, Georgia and South Carolina to the ban on offshore oil and gas exploration.