Category Archives: energy

Another case of criminal activity

Seems BP ignored maintenance issues on the Alaskan pipeline for 7 years.  Didn’t matter that record profits were swelling the ole bank accounts.

Read this article — if you as an individual had committeed these “sins”, how long could you elude jail?

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About that bridge you want to sell

An editorial viewpoint in this week’s Business Chronicle urges Georgia to build a pipeline from the LNG facility off Savannah for the following reasons:

  • Bring more liquid natural gas to Georgia. We need to take advantage of the Elba Island terminal off the coast of Savannah, one of only four in the nation. More natural gas may bring downward pressure on prices and provide a second source of natural gas should future hurricanes knock out supply from the Gulf of Mexico.
  • Simplify regulation at the state level to encourage energy and utility companies to expand and develop new energy sources. Officials have to recognize that companies are unlikely to invest capital in new energy sources or infrastructure unless there is some assurance of cost recovery.
  • Encourage the U.S. Senate to adopt legislation that Congress approved in June to open up the outer continental shelf for exploration and drilling of natural gas. The Interior Department estimates there could be as much as 333 trillion cubic feet of gas available off American shores. If we don’t get the natural gas readily available off our own coast, other countries such as China and Cuba are poised to start drilling for it.
  • The author, John W. Somerhalder, CEO of AGL — they are the other gas company on your bill that makes money on, yes, the price of gas…

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    Laws of Supply, Demand — need new adding machine

    From Friday’s San Francisco Herald:

    In other Nymex trading, August natural gas futures fell 14.1 cents to settle at $5.523 per 1,000 cubic feet — the lowest close since Sept. 27, 2004, when prices finished at $5.262.

    The United States is awash in natural gas and some analysts believe there may not be enough underground storage capacity, potentially forcing some producers to shut wells. Others predict the falling price will spark demand and cause the supply overhang to be whittled away by fall.

    The Energy Department said Friday that U.S. inventories of natural gas grew by 73 billion cubic feet last week to more than 2.6 trillion cubic feet. The five-year average for this time of year is just above 2 trillion cubic feet.

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