Tag / 2001

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2001

California Reacts to Enron Trial Verdict

Right or wrong, the five-year-old perception that Enron Corp. caused California’s energy crisis in 2000-2001 remains fixed in the collective mind of the nation’s most populous state, and the reaction Thursday to the guilty verdicts against Enron’s two former leaders for the most part was that justice had been done, but the state’s electricity consumers continue to pay for the former executives’ misdeeds.

May 30, 2006

Lay: Truth Victim of ‘Wave of Terror’

Kenneth L. Lay told a Houston audience Tuesday that when he stepped down as CEO of Enron in February 2001 “he was confident that Enron was financially strong, highly profitable, growing rapidly….” Yet 10 months later the company filed for bankruptcy.

December 14, 2005

Futures Finish Week Lower Despite Prevailing Bullish Sentiment

In a shortened trading session in observation of the Sept. 11, 2001 terrorist attacks, October natural gas futures were mostly uneventful Friday as they were contained within a slim 18-cent trading range before settling at $11.263, down 8.4 cents on the day but 42.8 cents lower than the previous Friday’s close.

September 12, 2005

Former Enron Investors Want Ruling on Merrill Lynch Role

Investors who lost money when Enron Corp. declared bankruptcy in late 2001 filed a petition on Friday asking the judge overseeing some of the bankruptcy proceedings to rule whether Merrill Lynch & Co. was a knowing participant in the former energy trader’s attempt to hide huge losses.

August 9, 2005

Wood Cites LNG Policies, Restoring FERC Morale as Biggest Achievements

“Keep the lights on and keep the people warm. Keep listening to the customer…I think when we have failed to do that on both the power and gas side, industry has suffered and the country has suffered,” departing Chairman Pat Wood said when asked for his advice to commissioners and staff of the Federal Energy Regulatory Commission and the energy industry.

July 8, 2005

Newest Wholesale Gas Merchants ‘Regenerating,’ ‘Immigrating’ into Sector

The players that took charge of the energy merchant sector following the dismal 2001-2002 shakeout continued to lead North American wholesale natural gas sales in 1Q2005, with BP plc, Sempra, ConocoPhillps, Coral and Atmos holding the top five spots in NGI’s latest natural gas marketing survey. However, new participants began “immigrating” into the business during the first quarter, and more are expected to follow, industry experts predict.

June 27, 2005

ChevronTexaco to Go Forward as Chevron Corp.

A little less than four years after Chevron Corp. and Texaco Inc. merged (see NGI, Sept. 10, 2001), San Ramon, CA-based ChevronTexaco said last week that the company is changing its name to Chevron Corp. immediately in order to present a “unified presence” in the global marketplace going forward.

May 16, 2005

ChevronTexaco to Go Forward as Chevron Corp.

A little less than four years after Chevron Corp. and Texaco Inc. merged (see Daily GPI, Sept. 10, 2001), San Ramon, CA-based ChevronTexaco announced Monday that the company is changing its name to Chevron Corp. immediately in order to present a “unified presence” in the global marketplace going forward.

May 10, 2005

CAISO Asks FERC to Help Eliminate Flaw in Intertie Transactions

A ghost from the 2000-2001 wholesale energy scams that permeated the West has revisited the California Independent System Operator (CAISO) as an offshoot of its implementation last October of part of its comprehensive market redesign. As a result, CAISO has incurred unnecessary higher costs for import and export of power between California and other control areas, and the appearance of so-called “wash” trading where fictional deals take place to boost trading volumes for marketers.

April 4, 2005

Skilling Incident Disputed by Attorneys

Former Enron CEO Jeffrey Skilling reportedly was taken to a New York hospital last Friday after several people told police he was pulling on their clothes and accusing them of being FBI agents. However, the account was disputed by Skilling’s attorneys, who claim that he and his wife called police after they were assaulted by two people.

May 10, 2004