September 30, 2013
The natural gas market ended on a high as the pending government shutdown sent investors sell. The weather conditions and shale bubble has the natural gas market on steady beat. The pending government shutdown and new healthcare kicking along with the energy future is the nexuses of culminating stress putting pressure on companies to determine next steps in the short-term. The news of the “US natural gas futures end higher” may send a n ease to the fuel price pocketbooks for the consumers as other dominoes are placed on the table.
The Business Recorder shed light on the “US Energy Information Administration data showed total domestic gas inventories stood at 3.386 trillion cubic feet, about 5 percent below last year’s record highs at that time but nearly 1 percent above the five-year average. Early estimates for next week’s storage report range from 82 to 100 bcf. Stocks gained 77 bcf a year earlier, while the five-year average rise for that week is 82 bcf. Baker Hughes data on Friday showed the gas drilling rig count fell this week for a second straight week, dropping by 10 to 376.”
The watchful eye of energy is a conduit to sustainable infrastructure and economic trending to alleviate the pressure from other cross conditions that are tightening the wallets of many consumers and businesses.
The news that the “count has risen in eight of the last 14 weeks, posting a six-month high of 401 just two weeks ago, stirring talk that new pipelines and processing plants could encourage producers to pump more gas into an already well-supplied market. The EIA still expects US gas production in 2013 to hit a record high for the third straight year.”
The pipeline push is hitting states with pending talk and resource galvanizing around how to secure land leases and the partners for power sourcing.
Steve Mosley at The SMC Report in Arkansas said, “We saw a pullback this week as the weather turned milder, which should mean higher injections over the next few weeks, but I don’t think the fundamentals are bearish enough for prices to go much lower.”
It is relevant to monitor and understand the impact presented on the “Front-month gas futures on the New York Mercantile Exchange ended up 2.2 cents at $3.589 per million British thermal units, after trading between $3.521 and $3.591.” This report within the discussion on an energy mix can lead to some disruptive thinking around the politics, policy and practice on energy.
- SC issues notice to Centre, CBI, RIL on gas controversy (thehindu.com)
- Declining Barnett Shale could remain strong natural gas producer (fuelfix.com)
- Supreme Court issues notice to Centre, CBI, RIL on gas controversy (dnaindia.com)
- MCC considers liquefied natural gas project in second Ghana compact (ghanabusinessnews.com)
- 1 Oil Company Makes a Big Bet on American Natural Gas (fool.com)
- BC LNG: Natural Gas Minister’s extraordinary claims (ecobooks4kids.wordpress.com)