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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (158807)	10/23/2011 1:36:50 PM
From: Dennis Roth	2 Recommendations Read Replies (2) \| Respond to of 206161

Exclusive - High EU gas prices at odds with big supply surplus uk.reuters.com (Reuters) - The European Union's natural gas network is likely be oversupplied by over 10 percent of last year's entire consumption, infuriating customers howling with pain from price hikes. Europe's oversupply, according to Reuters research and analysts' data, calls into doubt last summer's decision by many utilities to raise their retail gas prices for 2012. Many gas providers launched long-term, typically two year, fixed price deals that would hold off further increases, but would also not reduce rates should wholesale energy prices drop... ...Since the hikes were introduced, slowing economic growth has significantly pulled down wholesale gas prices, with the benchmark UK NBP Summer 2012 and Dutch TTF 2012 gas contracts down over 8 and 9 percent respectively since the beginning of September. Societe Generale (SOGN.PA) said European gas demand would be around 7.5 percent lower in 2011 than last year, a faster annual rate drop than at the height of the international recession in 2009... ==== Shale gas test drilling in Wales blocked bbc.co.uk ...Vale of Glamorgan leader Gordon Kemp spoke after the council unanimously rejected an application for drilling at a site in Llandow. The council said Welsh Water concerns about pollution of its reserve groundwater sites swayed the decision. The Welsh government called for a UK government policy on shale gas. Bridgend-based Coastal Oil and Gas Limited has said it will appeal against the council's rejection on Thursday night.... ...Campaigners from The Vale Says No had claimed that gas drilling, especially shale gas drilling, could be "potentially catastrophic" and would shatter the peace of a rural area. The side effects of fracking are still being investigated after two earth tremors near Blackpool last summer. Gas drilling in that part of Lancashire has been suspended. Concerns are on contaminating any underground water, and which chemicals are pumped at high pressure to release shale gas. Coast Oil and Gas had said the plan for the Vale was still at the exploration stage and the firm had no intention of fracking in the near future. He said the potential in terms of energy security and local jobs was considerable. In July shadow UK energy minister Huw Irranca-Davies called for the UK government to embed shale gas in its wider energy policy. The Ogmore MP said with the decline in North Sea gas and the UK's increasing reliance on imported gas, it could have potential. He said if extracted properly, shale gas could be a source of cheap affordable gas and be part of the UK's low carbon future. ==== Expert Says Quakes in England May Be Tied to Gas Extraction nytimes.com