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New Natural-Gas Source May Help Lower Prices Further |
A major new source of domestic natural-gas supplies -- the Independence Hub off the coast of Louisiana -- launched recently and promises to put more downward pressure on already sliding natural-gas prices.
Anadarko Petroleum Corp. is set to announce that the first gas has begun flowing through a pipeline from its offshore Independence Hub platform, according to a company official. The start-up is on time and without major glitches.
Located in 8,000 feet of water on Mississippi Canyon block 920, approximately 123 miles southeast of Biloxi, Miss., the Independence Hub is the deepest production platform ever installed and also is the world's largest offshore natural gas processing facility.
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Energy Bill Reconciliation Faces Difficult Hurdles
Key elements of the energy policy bill and auxiliary tax package passed by the U.S. House of Representatives recently -- notably a mandatory 15% renewable portfolio standard (RPS), increased taxes on the oil and gas industry, and the lack of increased fuel efficiency standards for autos -- spell trouble for a conference committee attempting to reconcile the House bill with a U.S. Senate bill passed earlier this summer.
The split on the critical issues is basically between newly empowered Democrats, attempting to rewrite portions of the Energy Policy Act of 2005 which had been passed by a Republican-led congress, and business-backed Republicans, attempting to hold onto the recent gains for the oil, gas, coal and nuclear industries. The Democrats are pushing for conservation and development of renewable fuels to combat greenhouse gases and move the nation away from fossil energy.
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FERC May Regulate Master Limited Partnerships
A policy statement the Federal Energy Regulatory Commission proposed recently would make way for the commission to consider master limited partnerships as it determines what rates oil and natural gas pipelines should be allowed to charge customers. The proposal represents a significant change in the commission's rate-making policy, FERC Chairman Joseph Kelliher noted during the commission's monthly agenda meeting in Washington .
"We're reacting to ... pretty striking structural changes that have occurred in both the natural gas and oil pipeline sector in recent years," he said.
Master limited partnerships such as Boardwalk Pipelines (BWP), which supplies Citizens Gas via Texas Gas Transmission, are organizations that are publicly traded on securities exchanges but carry unique tax benefits. Full Story |
Save The Date – National Association of Power Engineers Meeting
September 27, 2007
Winter 2007 – 2008 Natural Gas Supply and Pricing Outlook
John Righeimer – President - Maverick Energy
All meetings are held at 12 noon at Citizens Gas, 2020 North Meridian Street, Indianapolis, IN.
For more information please contact Rick Ratliff at DLR Mechanical at (317) 253-6822. |
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