Natural Gas Storage Report Withdrawal Season Week 13 (Week Ending January 25, 2019)

Week 13 of withdrawal season provided a fairly unremarkable and bearish pull of 173 Bcf, falling short of all market expectations but exceeding last year’s draw of 126 Bcf and the five-year average of 150 Bcf. Offsetting weather patterns (colder than normal in the Midwest and Northeast and warmer than normal in the West and Southeast) made for a somewhat more predictable withdrawal according to multiple market participants, but many…

Energy Newsletter: January 2019

Clean Water Agencies Propose to Redefine and Limit “Waters of the United States” – The United States EPA and the United States Army Corps of Engineers are proposing to redefine—and significantly limit—the scope of “Waters of the United States” (“WOTUS”) that are subject to federal jurisdiction under the Clean Water Act. Affected industries include land and infrastructure developers; linear projects such as roads, pipelines, and transmission lines; petroleum and chemical…

Natural Gas Storage Report Withdrawal Season Week 12 (Week Ending January 18, 2019)

This week’s mostly neutral withdrawal of 163 Bcf from storage came nowhere close to last year’s pull of 273 Bcf and the five-year average of 185 Bcf for the same time period. That being said, the continued pattern of lighter than projected draws over the past few weeks has resulted in current inventories finally surpassing last year’s working storage for the first time in months, but the five-year average still…

Natural Gas Storage Report Withdrawal Season Week 11 (Week Ending January 11, 2019)

This week’s mostly neutral to slightly bearish withdrawal of 81 Bcf came as no surprise with the majority of the Lower 48 realizing warmer weather patterns during the reporting week ending January 11th. The last two weeks have provided relief for deficits against last year’s values, but the five-year average deficit is still holding over 11% currently. That being said, February and March contracts are still vulnerable to the potential…

Without the right policies, energy storage could increase emissions

In December, the six major Independent Systems Operators (ISO’s) across the country filed their plans for creating new market rules and opportunities for energy storage. While the rules will take at least a year to go into effect and the plans are just an initial step, a recent studysuggests that this effort may add up to 50,000 megawatts (MW) of storage nationwide in the next decade. At the same time, many states…

Natural Gas Storage Report Withdrawal Season Week 10 (Week Ending January 4, 2019)

After a small reclassification of 4 Bcf, the implied flow of this week’s supposedly bullish withdrawal was reported at 87 Bcf, which exceeded market expectations by over 10 Bcf. The last two weeks have seen storage inventories fall more in line with last year’s reserves, particularly due to a massive withdrawal of 359 Bcf last year, but they are still 15% lower than the five-year average. Mostly temperate weather has…

2018’s Bad Guys in Energy

By Charles Sartain on January 3, 2019 I report herein on 2018’s parade of reprobates, rapscallions and others generally lacking in moral hygiene.  We reflect on a mother’s love, corruption in Venezuela, a disloyal employee, stealing from friends, a disgraced politician, and the wisdom of Forrest Gump. Perp: Carol Faulkner Violation: Not a crime but worthy of your consideration for its shamelessness. A “mendacious filing” in a an SEC civil enforcement action against Chris Faulkner, and she “repeatedly and willfully abused the judicial…

Democratic Leader Requests Clean Energy Infrastructure Package In 2019

On December 6, 2018, U.S. Senator Charles E. Schumer (D-NY) wrote a letter to President Donald Trump requesting that, in 2019, any infrastructure package to be considered include a focus on the clean energy economy to address climate change. Emphasizing that climate change is, in fact, real and caused by humans, Senator Schumer refers to the Administration’s recent National Climate Assessment report and the drastic need to reduce emissions. In the letter,…

Natural Gas Storage Report Withdrawal Season Week 8 (Week Ending December 21, 2018)

Forecasts of warmer weather seem to have finally come to fruition on this week’s withdrawal as EIA reported a slim 47 Bcf draw that nearly matched all expectations and paled in comparison to historical values. December has been mostly mild, yet storage inventories still are in danger of finishing the refill season at a notably low value. With the expiration of the January contract month yesterday, the February NYMEX price…

Natural Gas Storage Report Withdrawal Season Week 6 (Week Ending December 7, 2018)

The wild ride that is the 2018 withdrawal season has yet to slow down, and this week’s bearish pull of 77 Bcf, coming in notably lower than the market expectation of 84 Bcf, is providing yet another chance for the NYMEX winter prices to showcase their volatility. Historically, this draw sits higher than last year’s 59 Bcf withdrawal while also nearly falling in line with the five-year average of 77…