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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (82575)	12/24/2000 9:37:29 AM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

Release of Heating Oil From U.S. Reserves Urged, Reuters Says By Daniel Goldstein Washington, Dec. 23 (Bloomberg) -- More than 100 members of Congress urged President Bill Clinton earlier this week to release heating oil from an emergency reserve in the Northeast and to provide $300 million in federal funds to help poor families pay their heating bills, Reuters news agency reported. The letter sent by mostly Democratic lawmakers on Thursday said heating oil stocks in the Northeast are dangerously low and that low income families will have a hard time paying their fuel bills this winter, Reuters said. Lawmakers urged President Clinton to act before President-elect George W. Bush takes over on Jan. 20, because they fear the Republican may refuse to release supplies from the 2 million barrel reserve, the newswire said. ``If this release is to have any positive impact on increasing heating oil supply and providing relief to heating oil consumers, it must be done during your administration,'' the lawmakers wrote Clinton earlier this week, Reuters said. The heating oil supply was established by the Clinton administration earlier this year and was approved by Congress to counter higher heating oil costs in the Northeast, Reuters said. In September, Clinton authorized the release of 30 million barrels of oil from the nation's 571-million barrel Strategic Petroleum Reserve to increase supply and cut prices before the cold weather months began.

To: Think4Yourself who wrote (82575)	12/24/2000 10:18:41 AM
From: WWS	Respond to of 95453

JQP: Drilling in Alberta's western sedimentary basis is on the way up, led by such names as AOG and PCP. Even while initial well productivity is down, and depletion rates are accelerating, the effect of many more wells coming on line w/in the next two-three years will be to boost Alberta's net production, at least for awhile. How much and for how long are subjects of two different "what-if" spread-sheet projections (XLS format) by Canada's National Energy Board (NEB), which are available at their extremely informative web site. The link that I've provided to their site is to the specific workbook containing the ngas production estimates from NEB for the next 25 years for each Canadian producing region. Case #1 in Table A5.3a paints a somewhat more rosy picture of production than does Case #2 in Table A5.3b. neb.gc.ca

To: Think4Yourself who wrote (82575)	12/24/2000 11:10:57 PM
From: Douglas V. Fant	Respond to of 95453

JQP, I think that that's a good investment strategy. We know that with the opening of the Alliance Pipeline into the Chicago area, that an additional 1bcf/day of NG can be pushed out of western Canadian oil & gas fields. My guess is that the Alliance Pipeline is not full, and that with production rates at 100% the opening of the Alliance Pipeline is cannibalizing NG transportation for the two pipelines that head south into California. The reason I think this is that three weeks ago when the Alliance Pipeline opened- gas moving into Chicago from the Alliance Pipeline should have displaced NG coming on pipelines from Oklahoma and Texas to the south to serve the Chicago market. Therefore, Texas and Olahoma NG prices should have dipped. They didn't. In fact they rose even after the new pipleine opened. That suggests to me that Alliance's opening did not bring new supplies of Canadian NG to the US markets... Now the Aliance Pipeline is great news for the Chicago area, but note- the laterals that should extend from Chicago eastward all over the Midwest have not yet been built. And now if you extrapolate this scenario forward into Summer 2001 and consider the gas-to-power market, then there are a couple of option/futures plays that might work here too....