Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Bald Eagle who wrote (742832)	6/16/2006 11:24:48 AM
From: Hope Praytochange	Read Replies (1) \| Respond to of 769667

As Natural Gas Glut Looms, Producers Eye the Weather By Steven Mufson Washington Post Staff Writer Friday, June 16, 2006; Page D01 The whole world is talking about energy shortages, but for the moment, the U.S. natural gas business is looking at a potential glut. Thanks in part to a warm winter, inventories of natural gas have built up to levels far greater than normal for this time of year. And terminals built to handle imports of liquefied natural gas from other countries are operating at about half of their capacity. Alexei Miller, chief executive officer of natural gas producer OAO Gazprom. Producers are planning for eventual surges in U.S. demand. (By Paul O'driscoll -- Bloomberg News) AP Oil Price Reports Oil Prices Fall on Supply News Oil Prices Rise Above $70 a Barrel in Asia Oil Prices Rise After U.S. Report Oil Prices Fall for 3rd Straight Day Oil Prices Fall on Gulf Storm Predictions More Stories Oil and Gas Prices Stock prices, economic forecasts and consumer confidence show that ever-more-volatile oil prices have become a barometer by which consumers, investors, corporate executives and even voters gauge the future. As Natural Gas Glut Looms, Producers Eye the Weather The New Drilling Battle Sustainable Architecture Can Help Reduce Carbon Dioxide Emissions Stilling the Qualms Before the Storms Natives Feel Left Out of China's New West More News Save & Share Tag This Article Saving options 1. Save to description: Headline (required) Byline 2. Save to notes (255 character max): Blurb 3. Tag This Article It is, unfortunately for consumers, a situation that may not last. Energy traders are still pricing futures contracts at high levels, and natural gas producers are planning for big increases in U.S. demand over the coming years. Yesterday, the Federal Energy Regulatory Commission approved proposals to build three new terminals and expand two others that together would triple the nation's capacity to import liquefied natural gas (LNG). One of those projects is an expansion of the LNG terminal at Cove Point in Calvert County, Md. But for now, as anxiety grips oil markets, natural gas markets have calmed down in the past five months. At the end of last week, natural gas in storage amounted to 2.4 trillion cubic feet, up 23 percent from a year earlier and 38 percent higher than the five-year average, according to the Energy Information Administration. As a result, natural gas prices, which spiked as high as $15 a thousand cubic feet last winter, finished yesterday at $6.32 at Henry Hub, La., an industry benchmark. The only things that can rescue natural gas producers from having to slash prices later this year: another big hurricane or a hot summer