Attempts

The Interior Department’s Minerals Management Service (MMS) will forego attempts to try to collect $1.3 billion in oil and natural gas royalties that have been lost so far due to the failure of the agency to include prices ceilings in 1998 and 1999 leases, but rather will concentrate its efforts on recovering revenues on future production from the flawed leases, the head of the agency said Thursday.

The Interior Department’s Minerals Management Service (MMS) will forego attempts to try to collect $1.3 billion in oil and natural gas royalties that have been lost so far due to the failure of the agency to include prices ceilings in 1998 and 1999 leases, but rather will concentrate its efforts on recovering revenues on future production from the flawed leases, the head of the agency said Thursday.

Responding to critics of energy market volatility, James Newsome, president of the New York Mercantile Exchange, told a Senate committee attempts to decrease energy prices or volatility by installing narrow price limits on trading would be unsuccessful, and in fact, could work in the opposite direction.

After four failed attempts at a broad energy bill, the head of Atmos Energy remains optimistic about the chances for comprehensive legislation to pass next year in the 109th Congress.

After four failed attempts at a broad energy bill, the head of Atmos Energy remains optimistic about the chances for comprehensive legislation to pass next year in the 109th Congress.

After four failed attempts at a broad energy bill, the head of Atmos Energy remains optimistic about the chances for comprehensive legislation to pass next year in the 109th Congress.

Undeterred after failing on two prior attempts to site liquefied natural gas (LNG) import terminals, TransCanada Corp. said it has teamed up with Petro-Canada to develop an LNG facility, named Cacouna Energy, in Gros Cacouna, PQ, about nine miles northeast of Riviere-du-Loup. The proposed terminal would have average sendout capacity of 500 MMcf/d.

Undeterred after two prior attempts to site liquefied natural gas (LNG) import terminals failed because of local opposition, TransCanada Corp. said it has teamed up with Petro-Canada to develop an LNG facility, named Cacouna Energy, in Gros Cacouna, PQ, about nine miles northeast of Riviere-du-Loup. The proposed terminal would have average sendout capacity of 500 MMcf/d.

Despite numerous attempts to water down its final anti-manipulation order, the Federal Energy Regulatory Commission last Wednesday upheld the bulk of its November 2003 ruling that barred companies holding natural gas blanket marketing certificates from acting in a way that would manipulate energy prices and markets.