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A bipartisan group of senators last week called on the Bush administration to release the final $100 million in emergency funding for Low-Income Home Energy Assistance Program (LIHEAP) that helps needy families pay their utility bills. They also recommended that the annual LIHEAP budget be expanded.
With Hurricane Emily's path looking less threatening to a majority of Gulf of Mexico production, August natural gas futures on Monday probed the downside, trading as low as $7.560 before settling at $7.652, down 19.7 cents from Friday.
A major interstate natural gas pipeline group and gas utility association have called on FERC to conduct regional technical conferences to address coordination issues between the gas and electricity markets, while a group of New York Transmission Owners (NYTO) recommended that independent system operators/regional transmission organization (ISOs/RTOs) be required to submit compliance filings identifying how they plan to respond to coordination problems.
With natural gas prices as low as they are, one would think there is no good reason to drill for the stuff. Actually, there are several reasons to pursue gas; but they're pretty much going away, according an analysis by Standard & Poor's (S&P).
The U.S. Department of Energy (DOE) last week granted three separate authorizations for the export of domestic liquefied natural gas (LNG) to SB Power Solutions Inc. (SPS), Gulf LNG Liquefaction Co. LLC and Southern LNG Co. LLC. Exports are to be allowed to countries with which the United States has a free trade agreement (FTA).