On Tuesday, Alaska Commissioner of Natural Resources Dan Sullivan(NGP Photo) addressed a group sponsored by Northrim Bank. Yesterday morning, Sullivan spoke to the Resource Development Council for Alaska. Since the messages are similar, we will provide readers with a brief report of the Tuesday presentation later this morning….
Bloomberg by Gene Laverty. Canadian natural gas fell amid expectations that U.S. inventories of the fuel rose for a third straight week. Alberta gas declined 2.3 percent. Stockpiles probably rose 33 billion cubic feet last week, the median of 31 analyst estimates compiled by Bloomberg (DOENUSCH). The increase has averaged 8 billion in the past five years, according to U.S. Energy Department (DOENUST5)data.
With gas prices at record highs for this time of the year, it’s no wonder there’s been rhetoric from politicians on both sides of the aisle on how to reduce fuel prices. It seems the right and the left have been scrambling to find a silver bullet solution, simultaneously pointing fingers and deflecting blame.
Offshore drilling fees are financing the purchase of $41.6 million worth of new national forest lands in 15 states. Agriculture Secretary Tom Vilsack said Thursday the 28 different purchases from North Carolina to Oregon will protect clean water and fish and wildlife habitat, absorb private inholdings within wilderness areas, and support outdoor recreation spending that contributes $14.5 billion annually to the economy.
At least one public hearing is scheduled in Nebraska for the Keystone XL pipeline before a route is determined, a state proposal says. Nebraska lawmakers last week, by a 35-to-2 vote, approved a preliminary measure that would let TransCanada move ahead with a $2 million study to find a new route for the Keystone XL pipeline through the state.
President Obama recently got a look at what his failed energy policies are doing to America and I hope he fully appreciates that he does have the power to change things for the better. His recent tour of Cushing, Oklahoma, while a trip planned with political considerations first and jobs other than his own a distant second, should have given him a clear perspective of how important the Keystone XL Pipeline is to America.
House Speaker John Boehner (R-Ohio) used Friday’s mixed jobs report as fuel for attacks on President Obama’s energy policies. Boehner twice mentioned high gasoline prices in a statement on the jobs numbers and pushed GOP plans to authorize construction of the Keystone XL oil sands pipeline.
Gasoline prices are holding steady just under $4, but analysts warn Houston drivers could see a sudden rise at the pump as refineries switch to summer-blend gasoline. Houston drivers are paying on average $3.89, or 3 cents higher than a week ago, but Tom Kloza, the chief analyst for Oil Price Information Services, said higher prices are on their way. “The big increases are coming to the Clean Air Markets, such as Houston and Dallas,” Kloza said.