|
The natural gas market just can’t seem to make up its mind yesterday as the market had a mid-day rally only to be met by an overwhelming number of sellers in the $4.05 price area in the April exchange contract. It seemed to look strong through most of the day and a settlement above $4.00 looked like it would be no problem. Then, with an hour to go, the market dropped all the way back down to unchanged on the day. Fundamentals (weather forecasts, energy data, supply figures, demand numbers, etc) are still bearish as the 6 to 10 day forecast continues to call for above average temperatures for all of the US east of the Rocky Mountains and the 11 to 15 day forecast calls for above average temperatures for the entire South. On the storage front, the industry is still probably two weeks away from weekly storage change numbers showing injections rather than withdrawals. But through all of this, the market is not able to make a significant drop either. One other point to note is that the earthquake and tsunami in Japan may have a long term peripheral bullish effect on our natural gas market as LNG and coal are redirected to help fuel the world’s third largest economy.
In light of the nuclear meltdowns in Japan, the U.S. Nuclear Regulatory Commission is continuing to work toward its goal of evaluating whether roughly 30 reactors across the nation should address seismic risks. The area around Peach Bottom Atomic Power Station, Pennsylvania has recently shown a slight increase in seismic activity, according to updated data analyzed by the U.S. Nuclear Regulatory Commission. The federal agency, using data from both the U.S. Geological Survey and the Electric Power Research Institute, will run additional analysis to determine if 30 plants across the nation should make improvements to address the seismic risks, said Neil Sheehan, an NRC spokesman. The area around Three Mile Island in Dauphin County didn't register enough seismic activity to warrant additional analysis, he said. Despite the increased activity at Peach Bottom, the plant is not at any immediate risk of seismic hazards, Sheehan said. "These plants were built to withstand all types of natural phenomena such as hurricanes, tornadoes and earthquakes," he said. Recent applications submitted to the NRC for new nuclear power plants have referenced updated seismic information from the Electric Power Research Institute, Sheehan said.
Looking ahead in the energy industry, Dominion Company announced a pilot program to begin linking thousands of future job openings in the energy industry with troops leaving military service. The pilot will last approximately two years and will be carried out by five utilities around the United States. The program, "Troops to Energy Jobs," is part of the national Center for Energy Workforce Development and is designed to establish an ongoing process of outreach, recruiting, education and training to create a pathway for military personnel to transition from the service into civilian careers in the energy field. This program is part of an effort to promote energy careers to all segments of the population, including young students still in high school, those who have served in the military, and others looking for challenging jobs with good pay. The Troops to Energy Jobs initiative will be the first pilot to be tested in the field. A survey by the CEWD in 2009 estimated that nearly 100,000 openings would occur in the energy industry by 2015 as engineers, technicians, line workers, plant operators, pipefitters and other workers leave energy companies through retirement and normal attrition. As many as 250,000 jobs may open up by the end of the decade.
|
