IN BRIEF
PITTSBURGH — A new federal report says that natural gas production in Ohio's Utica Shale region is growing rapidly.
The report issued Monday found that production from the Utica region in eastern Ohio increased by more than 10 times over the last two years, from 115 million cubic feet per day in 2012 to an estimated 1.3 billion cubic feet per day by September 2014.
The U.S. Energy Information Administration says the Utica is one of the fastest growing natural gas production areas in the United States. Utica oil production has also increased to about 40,000 barrels per day.
But the Utica production numbers are still far smaller than leading regions such as the Marcellus in Pennsylvania, the Bakken in North Dakota, or the Eagle Ford in Texas.
WASHINGTON — The U.S. Postal Service lost $2 billion this spring despite increasing its volume and charging consumers more money to send mail, officials said Monday.The loss for the spring quarter, which ended June 30, was significantly higher than the $740 million loss for the same three-month period last year. The agency blamed increases in compensation and benefit costs for the red ink and said it would be unable to make a congressionally mandated payment of $5.7 billion this September for health benefits for future retirees. The loss came despite a 2 percent increase in operating revenue compared to last spring.“Due to continued losses and low levels of liquidity, we've been extremely conservative with our capital, spending only what is deemed essential to maintain existing infrastructure,” said Joseph Corbett, the Postal Service's chief financial officer.The Postal Service i has asked to end most Saturday deliveries, a request that is languishing in Congress amid opposition by postal unions.
