Futures Traders Look for Natural Gas in 1990

By Fears, Ronda | THE JOURNAL RECORD, October 5, 1989 | Go to article overview

Futures Traders Look for Natural Gas in 1990


Fears, Ronda, THE JOURNAL RECORD


As slogans go, the chant echoed among energy futures brokers that natural gas will be trading on the New York Mercantile Exchange next quarter is falling on skeptical ears.

It's a rather passe slogan, dating back to the first discussions in 1983.

Periodically, the chant is revived and the upcoming quarter is predicted to bring a natural gas futures contract. All to no avail, thus far.

Exchange leaders and members of its Natural Gas Advisory Committee are again forecasting natural gas trading to begin as soon as the first quarter 1990, but that optimism hasn't filtered down to the general stream of commodity brokers.

"I know it's been said before, but once again, I think 1990 is the year," said Dr. Arnold E. Safer, president of The Energy Futures Group in Maryland and a member of the exchange's advisory committee.

Commodity brokers and financial consultants in Oklahoma see quite a different picture. And, independent natural gas producers haven't even warmed up to the idea.

The problem: Deliverability.

To work properly, there must be a delivery point accessible to the entire market. For example, Cushing, at a central U.S. location with a vast network of crude oil pipelines is the delivery point of the New York Mercantile Exchange for crude futures.

Oklahoma, however, is not in the running for a natural gas delivery point. Natural gas producers in Oklahoma have complained of pipeline capacity shortages for several years. There are, however, several expansions being discussed among pipeline companies.

Exchange members have narrowed the possibilities of a natural gas futures delivery point to East Texas or Louisiana.

The upcoming quarter is different from those that preceded it since the Federal Energy Regulatory Commission has taken a hands-off approach to the concept.

An application for an interchange at Katy, Texas, at the Federal Energy Regulatory Commission had stalled progress in the exchange's plans for almost five years.

Last month, federal energy regulators ruled the nominated delivery point at Katy did not require any special authority from the commission. Due to the commission's growing policy on open access transportation, under which an estimated 80 percent of pipelines now operate, federal energy commission approval was not needed. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Futures Traders Look for Natural Gas in 1990
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.