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Natural Gas Market Indicators
For anyone that wondered what we would do with the record volume of natural gas placed in underground storage to begin the 2009-2010 winter heating season, the answer in recent weeks has been – consume it! The question of the winter may be whether extreme cold can rebalance the historically high storage levels that are a relic of recession-destroyed demand.
However, to reach the five-year average season ending storage inventory of about 1.36 Tcf would require huge, consistent, and unlikely withdrawals every week during January and February. This reality check may be one of the factors influencing natural gas futures prices for the balance of 2010 – prices that except for November and December are currently below $6 per MMBtu.
Another, non-weather related demand wildcard is manufacturing, which expanded for the fifth straight month to its highest level in almost four years according to the Institute for Supply Management’s ISM Manufacturing Index.
Visit this link to download the full Natural Gas Market Indicator. Topics covered include: Reported Prices, Weather, Working Gas in Underground Storage, Natural Gas Production, Rig Counts, Pipeline Imports and Exports, and LNG Markets.
Energy Groups Talk Future of Natural Gas, Renewables at USEA
At the United States Energy Association’s (USEA) 6th Annual State of the Energy Industry Forum, leaders from the natural gas, wind, solar, nuclear, mining, petroleum and financial sectors shared their take on what the future might hold for the United States’ comprehensive energy portfolio.
AGA President and CEO David Parker told the audience, “We represent the customer, so the price of natural gas is critical to us. And I’m pleased to report today that with new shale discoveries across the country, we’re more confident about the natural gas supply picture than ever before. This clean, efficient, reliable, American fuel is and will be available to us in abundant quantities.”
“No industry here today is going away, so there is no need for a fuel war,” he continued. “Our country needs all the energy sources it can get if the economy is going to recover. We’re optimistic about the overall energy picture in the United States.”
A consensus was reached among the speakers that the country’s often-divisive political environment could play a major role in the momentum- or lack thereof- of any climate and energy legislation.
For more information visit the USEA forum.
LIHEAP Action Day coming up
Here are the details on the upcoming Low Income Home Energy Assistance Program (LIHEAP) Action Day for which we just sent out information yesterday afternoon.
It’s only five weeks until the National Fuel Funds Network’s (NFFN) LIHEAP Action Day, February 10, 2010 in Washington, D.C. Registration for NFFN’s LIHEAP Action Day is now open. The deadline for discounted hotel rooms is January 21. Please join delegates from across the country in the Nation’s Capitol to kick-off advocacy for at least $5.1 billion for LIHEAP in Fiscal Year 2011.
If you have already registered, thank you. If you have not registered, please help NFFN plan for the event and register now. by visiting www.nationalfuelfunds.org.
We need your participation on LIHEAP Action Day to maintain and increase LIHEAP funding. Here’s why:
On December 18, the National Assistance Energy Directors’ Association released a study that shows how much of a difference the increase in LIHEAP funding made in FY 2009. A record number of households received assistance. The study is available at www.neada.org,
“The number of households receiving heating assistance reached record levels for the second year in a row, increasing from 6.1 million (5.8 million heating and 0.3 million cooling) to 8.3 million (7.7 million heating and 0.6 million cooling). Eleven states reported increases of more than 50%: California 162%, Texas 122%, Florida 104%, Nevada 80%, Arizona 80%, Oklahoma 76.3%, Kentucky 72.1%, Delaware 71%, Tennessee 62%, Oregon 55%, and Washington 54%.”
NEADA also projects “an increase of 20% in the number of families applying for assistance based on initial application rates”. NFFN agrees with NEADA that “The current funding level will not be sufficient to meet the need if current trends continue. In the absence of supplemental funding, states will have few choices other than to reduce benefits, tighten eligibility requirements or close programs early.”
LIHEAP advocates have their work cut out for them to make sure that these choices will not come to fruition. Since 2003, NFFN’s LIHEAP Action Day has been integral to convincing Congress to increase LIHEAP funding to the present $5.1 billion annually. We will need to work hard to secure this level again or more in FY 2011. The action begins on February 10. We need your participation.
NFFN’s LIHEAP Action Day will begin with a breakfast briefing at 8:15 am and end with a reception 4:30 on Wednesday, February 10, 2010. The American Gas Association will provide their Capitol Hill office as central gathering place. NFFN will distribute talking points and background information, expert advice and training in lobbying for LIHEAP for a diverse group of participants.
We expect representatives from fuel funds and other nonprofit organizations, consumer advocacy programs, utility and fuel oil companies and associations, and local, state and Tribal governments. Action Day advocates will fan out over Capitol Hill with a uniform message for legislators – provide needed LIHEAP funding.
NFFN will also have a briefing and reception for early arrivals on Tuesday, February 9 at 4:30, PM, at a location close to the event hotel.
There is no charge for registration. We will update registrants on the legislative situation and other developments between now and LIHEAP Action Day.
NFFN has arranged for discounted hotel rates for February 9 and 10 at the Red Roof Inn in downtown Washington. The hotel is in Chinatown, near the Verizon Center. It is directly accessible on the Metro yellow line from Reagan National Airport, two blocks from the Gallery Place stop. The deadline for the discounted room rate at the Red Roof Inn is January 21. Please register now for the hotel. NFFN will provide bus transportation from the hotel to Capitol Hill on the morning of February 10.
Red Roof Inn
500 H Street, NW, Washington, DC
(202) 289-5959
Room Rate: $149 + tax
Reference No: B254NFF10
For more details on Action Day, please contact NFFN Executive Director George Coling, 202-824-0660, coling@nationalfuelfunds.org. Also, please read a supportive editorial from the New York Times at http://www.nytimes.com/2009/12/28/opinion/28mon2.html?_r=1&ref=opinion.
True Blue Natural Gas Blog from the American Gas Association (AGA)- Beating the Heat with Summer LIHEAP Action Day
- “The Future of Natural Gas,” Meet Dr. Ernest J. Moniz, MIT
- Renewable Gas – Vision for a Sustainable Gas Network
- The Natural Gas Revolution
- The natural gas grid…the really smart grid
- Meeting the Route 66 guys
- Drilling 101
- ‘Drive To Inspire’ Rides Through Tulsa
- Congratulations to the AGA Awards of Merit Recipients
- Summer LIHEAP Action Day
