Industry News page 8

Congress Bill Could Hamper US Natural Gas Production - Jun 12th, 09
U.S. lawmakers unveiled a bill that industry warns could prevent development of trillions of cubic feet of natural gas by putting regulation of a key production technique under federal oversight.

Oil Hits $70, Goldman Sachs Upgrades 2009 Prediction to $85 - Jun 5th, 09
Crude oil prices rise to the highest mark for the year, briefly brushing $70 per barrel before settling to $68. The week finishes with a gain of nearly $2 a barrel, having rose steadily now for weeks.

$66 OIL, OPEC UNCHANGING, OBAMA TO VISIT SAUDIS - May 29th, 09
Oil prices closed the month at $66 a barrel, having rallied for weeks to reach the current six-month high. OPEC met on May 28th, and as expected, decided to leave production unchanged.

Crude Brushes $60, Settles Into Upper $50's - May 15th, 09
For the first time in 2009, the price of crude oil briefly touched $60 per barrel before settling in the upper $50 mark. The close link of crude prices to equity markets was evident in the crude price drop accompanying a 185 point decrease in the Dow Jones.

Oil Breaks $50, Poised to Jump? - May 1st, 09
Crude oil prices rose throughout this week despite reports of an inventory surplus and indications that the nation is consuming less oil than it has in years. There are some signs that the slide experienced in the manufacturing sector appears to be slowing.