Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.energy,americast.usa-today.energy From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: energy Wed, Oct 7 1992 Date: Wed, 7 Oct 92 04:38:01 EDT Message-ID: 10-07 0000 DECISIONLINE: Energy USA TODAY Update Oct. 7, 1992 Source: USA TODAY:Gannett National Information Network CRUDE OIL INCHES UP: Crude oil prices closed slightly higher Tuesday on the New York Mercantile Exchange as traders said they could not justify further increases without a significant rise in the price of heating oil and gasoline. Light sweet crude oil finished up 4 cents per barrel to $21.81. Natural gas traded at $2.440 per million British thermal units, up 5.8 cents. HEATING OIL DECLINES: Prices for heating oil, a seasonal commodity in the Northeast, are stagnant because supplies in the top consuming regions - New England and the Middle Atlantic states - are considered plentiful, traders said. Home heating oil settled 0.21 cents a gallon lower at 63.32 on the New York Mercantile Exchange. Unleaded gasoline contract settled up 0.18 cents per gallon at 58.46 cents. OUTPUT JUMPS IN SEPTEMBER: OPEC nations boosted oil output in September to the highest monthly level in a decade, according to estimates. The International Energy Agency said Tuesday the 13-nation cartel pumped 24.7 million barrels of crude a day last month, about 200,000 barrels more per day than the agency's revised 24.5-million-barrel figure for August. OUTPUT HAD BEEN BELOW 24.4M: Since March, monthly oil output for OPEC nations has been below 24.4 million barrels a day. But September's 24.7 million-barrel production gave OPEC its highest quarterly average - 24.4 million barrels a day - in 11 years. Demand has kept pace. World oil demand in 1992 is expected to be 67 million barrels a day, 300,000 barrels a day higher than in 1991. PRICE OF GAS DROPS: The average price of self-serve regular unleaded gasoline fell .7 cent this week to $1.15 per gallon, the American Automobile Association reported Tuesday. AAA's Fuel Gauge Report shows the average gasoline price dropped in all regions of the country. It is based on a nationwide spot check of gasoline stations. NOELL GETS CONTRACT FOR PLANTS: A contract for two 50-megawatt electric power plants was awarded Tuesday to Noell Inc. by the Northern California Power Agency and Turlock Irrigation District. Noell said the contract is worth $85.975 million. The plants will be fitted with Noell-designed catalytic pollution control and water treatment systems and will be driven by turbines powered by natural gas. CRSS DEVELOPS FACILITIES: CRSS Inc. said Tuesday its Capital Inc. unit is developing power-generating facilities in Chehalis, Wash., and Reading, Pa. CRSS has completed preliminary studies for the proposed 500-megawatt plant in Chehalis and is preparing an environmental permit. The plant is expected to be operational in 1996. The Reading project is for construction of a 200-megawatt plant, to be completed in 1997. ONEOK ESTABLISHES SUBSIDIARIES: ONEOK Inc., a Tulsa-based energy company, announced Tuesday the establishment of two wholly-owned subsidiaries, ONEOK Gas Marketing Co. and ONEOK Technology Co. ONEOK Technology Co. will enter into an agreement with International Meter Products Inc., to form Natural Energy Products Co., according to Bill Chaffin of ONEOK's Oklahoma Natural Gas Co. BEER, BEANS MAKE CARS GO: Vehicles powered by everything from beer byproducts to soybeans were featured at the recent Alternative Transportation Exposition in Burbank, Calif. The show featured vehicles powered by ethanol, electricity, natural gas, hydrogen, propane and other alternative fuels. The Big Three automakers displayed prototype vehicles that could be on the nation's highways within a few years. LAWS TO FORBID POLLUTION: California smog-reduction laws require that by 1998 at least 2% of the cars major automakers sell in southern California - or 40,000 cars - must emit no pollution. That figure rises to 200,000 vehicles by 2003. FERC COULD HELP PRODUCERS: The Federal Energy Regulatory Commission is entering the battle between the California Public Utilities Commission and Alberta natural gas producers. The California Public Utilities Commission regulates one of Alberta's top markets. The Alberta group has learned that its members might be compensated for an overhaul of long-term sales contracts required by U.S. regulators. DETROIT ED RATES TO DROP: Detroit Edison's 1.9 million customers will pay nearly 5% less for electric service beginning Jan. 1 if the Michigan Public Service Commission accepts a proposed fuel adjustment settlement agreement reached Monday. The proposed $174 million reduction would cut next year's rates $28 million below levels announced with the utility's original rate cut plan. AMOCO CONTRACT TAKES EFFECT: SHL Systemhouse Inc. said Tuesday that a five-year outsourcing contract with Amoco Canada Petroleum Co. Ltd. has taken effect. The contract is value at between $56.4 million and $72 million. Systemhouse will administer mainframe processing and data, voice and radio network operations for Amoco Canada. Amoco Canada is Canada's largest producer of natural gas. Energy Editor: Beth Mann. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution purposes violates federal law. This article is copyright 1992 Gannett News Service. 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