President Bush’s focus on security in the upcoming State of the Union message will include “the security that comes from being energy-independent and having reliable supplies of American-made fuel, White House spokesman Ari Fleischer said in a news briefing Thursday. “Among the domestic policy issues that the president will focus on throughout 2002 are the creation of jobs for the American people, helping the economy to grow out of the recession and recover, energy independence and the development of a comprehensive energy plan. I remind you that it again is another exciting bipartisan opportunity for the country. It passed — the president’s energy plan passed the House with a rather sizeable bipartisan vote; the President hopes the Senate will take action.” There has been no decision as to exactly what day the president’s address to Congress will be given this year, a spokesman said. It usually occurs around Jan. 20.

The Supreme Court of British Columbia has approved Duke Energy’s $8.5 billion (including $4 billion in debt assumption) acquisition of Westcoast Energy (see Daily GPI, Sept. 21). The court determined that the arrangement is “fair and reasonable” to the holders of Westcoast Energy’s common shares and options to acquire common shares. Westcoast and Duke also have received a favorable advisory opinion on the acquisition from the Canadian Commissioner of Competition. Additionally, the Public Service Commission of South Carolina this week approved the acquisition. The companies expect to complete the acquisition by the end of first quarter 2002.

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