Aimed

The first of a series of industry meetings aimed at addressingthe controversial issues in the mega-notice of proposed rulemaking(NOPR) and notice of inquiry (NOI) gets underway in Houston today.Many are hoping the sessions will provide the way for the bickeringsegments of the gas industry to achieve common ground on some ofthe top issues posed by FERC.

Cash prices continued their upward direction Wednesday, but at aslightly slower pace than the prior two days. A fading winterblast in the Northern Plains, combined with forecasts of moderatingtemperatures and a softening Nymex screen, eased the punch of thestrong cash market in late trading, sources said.

In the wild final hours of the California state legislature’s1998 session Monday (August 31), another bill aimed at curbing theleeway of the state energy regulators was passed (Senate Bill 1757)and is now awaiting the governor’s signature. A California PublicUtilities Commission representative at the state capitol said theregulators’ remain neutral on the bill, but may take a positionwhen they meet for a regularly scheduled commission conferenceThursday (Sept. 3).

About 80 electric-related companies are due to respond laterthis week to FERC inquiries aimed at determining whether marketmanipulation was a contributing factor to the wild price gyrationsin the Midwest electricity market in late June.

As part of a major reorganization plan, the American PetroleumInstitute (API) says it plans to establish a “natural gascomponent” aimed at attracting medium-to-small sized companies asnew members and at retaining current API members.

Three senators from leading energy-producing states unveiled amajor legislative plan Tuesday aimed at shoring up the domestic oiland gas industry in the face of depressed crude oil prices. Themeasure, titled the National Oil and Gas Security Enhancement Plan,seeks to provide producers with regulatory, leasing and tax relief.

Rep. William M. “Mac” Thornberry (R-TX) introduced legislationWednesday aimed at “completely overhauling the current system” usedby the federal government to collect royalties on oil and naturalgas production.