Vice President Dick Cheney and key Cabinet members were dispatched around the country early last week in an effort to resuscitate the public’s interest in the Bush administration’s package of energy proposals, which had been largely stalled in Congress after being unveiled to much fanfare in May.
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Cheney Sees Energy Bills Adopted by Year’s End
Vice President Dick Cheney says he expects to see a broad range of energy legislation passed by Congress and signed into law by President Bush by the end of the year.
July 18, 2001
Industry Briefs
Denver-based Prima Energy Corp., an independent natural gas and oil company, has adopted a Stockholder Rights Plan designed to provide additional negotiating leverage to the company’s board of directors in the event of an unsolicited takeover bid, and to protect the company’s stockholders against inadequate offers and “abusive takeover tactics.” Under the plan, the company will distribute one right for each outstanding share of common stock to holders of record at the close of business on June 8. The plan would generally be triggered if an acquiring party accumulated 15% or more of the company’s common stock. Most of the company’s current activities are focused in the Rocky Mountains.
May 25, 2001
Cross Timbers’ New Name: XTO Energy
Cross Timbers Oil Co., riding high on a wave of record earnings and gas production growth, has adopted a new name, XTO Energy Inc., which takes effect June 1. The company will continue to be listed on the New York Stock Exchange under the symbol “XTO.”
May 16, 2001
Internet as Energy Selling Vehicle Untapped
Last week a little town in Oregon adopted a web site as itsofficial name for a one-year trial basis. During the Christmasholidays, Wal-Mart sold a computer with Internet access for about$500, and couldn’t keep up with demand. Some are saying 80%-90% ofthe United States will be Internet-connected by next year.
January 24, 2000
‘Ex Parte’ Rule Issued; New Collaborative Process Approved
FERC commissioners last week finalized revisions to rules foroff-the-record communications between commissioners and key staffand persons outside the Commission. Chairman James Hoecker said thenew rule (Order No. 607) provides a balance that “will supply theclarity and precision we need. They should facilitate better accessto information while ensuring the integrity of our processes.”
September 20, 1999
Marketers Slam CT Draft Unbundling Ruling
Gas marketers said last week a preliminary unbundling ruling bythe Connecticut Department of Public Utility Control (DPUC) allowsthe state’s local distribution utilities to erect “insurmountablebarriers to entry” into the retail gas market and will snuff outwhat little competition exists today.
October 26, 1998
Energy Council Against Fuel Mix Mandates; Favors LNG
The Energy Council has unanimously adopted a policy statementvoicing strident opposition to congressional restructuring measuresthat would mandate states to use a specific fuel mix in thegeneration of electric power. It also said it was against federallymandated targets for states to supply power from renewable energysources.
March 17, 1998
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