Natural Gas Producers Cut Output

Amid an abundance of natural gas supplies and soft prices, gas producers are starting to pull the plug.

Chesapeake Energy Corp. said it will cut 6% of its gas production in September in response to low natural gas prices. The Oklahoma City-based company will also reduce its capital spending by 10% in 2008 and 2009. Other natural gas producers are cutting back their output as well, analysts said.

"It's now prudent to pull in the reins and let the market rebalance," said Aubrey McClendon, Chesapeake's chief executive, in a conference call for analysts.

Natural gas prices have dropped more than 20% in the past couple of weeks.

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Could Flying Wind Farms Whip Global Warming?

James Bond would be lost without them -- those madcap gadgets merging two technologies that help him beat the bad guys and save the planet. The underwater watch with a built-in Geiger counter, for example; or the car that doubles as a submarine; or the exploding bagpipes and missile-launching wheelchair.

Now a U.S. company has taken a leaf out of 007's book and developed a similarly unlikely "combination" technology.

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Bush Administration Proposing Speeding Up Phase Out of Ozone Destroying Chemicals

The Bush administration plans to push for speeding up -- by a decade -- the global phaseout of chemicals that destroy the ozone layer and contribute to global warming. But it is likely to run into opposition from China, which stands to profit more if current treaties hold.

The administration's proposal will be presented at a meeting opening Sept. 15 in Montreal, where representatives from 191 nations that have signed the treaty will discuss toughening the 20-year-old Montreal Protocol. The treaty was designed to reduce the use of chemicals that have created holes in the ozone layer that shields the Earth from the more-damaging parts of solar radiation.

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Nuclear Power Poised for a Comeback

Federal regulators, preparing for explosive growth in the nuclear power industry, say they are weeks away from an anticipated flood of license applications for new reactors not seen since the 1970s.

"There are a lot of challenges for new construction," said Bill Borchardt, director of the Nuclear Regulatory Commission's newly created Office of New Reactors. "And a lot of challenges for the NRC."

The independent regulatory agency expects to receive new fast-tracked combined construction and operating license applications for as many as 29 reactors at 20 sites, most in the South, over the next three years.

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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.