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  • From: "Tradingpost" <tradingpost@gilanet.com>
  • To: livingontheland@lists.ibiblio.org
  • Subject: [Livingontheland] The Houston Chronicle is reporting a "Close Call on Natural Gas for Winter":
  • Date: Wed, 05 Oct 2005 11:00:19 -0600


The Houston Chronicle is reporting a "Close Call on Natural Gas for
Winter":
http://www.321energy.com/editorials/shedlock/shedlock100505.html

"Winter is coming, and most of the natural gas wells in the Gulf of Mexico
remain shut in. Industry officials say gas supplies will be adequate to
heat Americans' homes through the colder months.

"But at what cost?

"'Based on everything we see right now, coming off of Katrina and Rita, we
should be fine this winter,' Natural Gas Supply Association chairman Joseph
Blount said Tuesday.

"Consumers, however, won't be happy.

"Even before Rita pushed natural gas prices to new highs, Guy Caruso, head
of the Energy Information Administration, was estimating home heating bills
this winter could jump as much as 70% in some parts of the Midwest.

"Lawmakers on Capitol Hill are hurriedly responding to the latest energy
crunch sparked by the hurricane duo by writing a new energy bill.

"House Energy and Commerce Committee Chairman Joe Barton (R-Texas) today
will push a provision to encourage construction of a natural gas pipeline
across Alaska and bring new supplies to the lower 48 states. Resources
Committee Chairman Richard Pombo (R-Calif.) will sponsor a measure that
would allow states to authorize oil and natural gas drilling off their
coasts.

"Neither provision will help consumers this winter...

"To date, hurricanes Katrina and Rita have deprived the markets of nearly
5% of the annual gas production that would have otherwise come from the
Gulf.

"Although natural gas is used year-round to generate electricity, demand is
greatest in the winter months.

"To meet that seasonal demand, the industry must build inventories before
the severe cold hits...

"As of Sept. 16, 2.8 trillion cubic feet of gas was in storage, the Energy
Information Administration reported.

"That's up about 3% from the five-year average, although down about 3% from
the same time last year.

"Industrial customers with the ability to switch from use of natural gas to
heating oil have largely done so...

"Residential customers typically don't have the luxury of switching. Their
demand depends on the weather.

"Forecasters are predicting a warmer-than-normal winter, although cooler
than last year. Overall, the natural gas association estimates residential
gas demand will be up more than 7% from last year."




  • [Livingontheland] The Houston Chronicle is reporting a "Close Call on Natural Gas for Winter":, Tradingpost, 10/05/2005

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