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Independent oil and natural gas producers are up in arms over aremark by Energy Secretary Bill Richardson that current oil pricesare at “dangerously high levels.” Richardson cited his concern lastweek and said the Clinton administration stood ready to take actionif prices continued to rise, although he declined to specify whattype of action.

Energy Secretary Bill Richardson has indicated he is “guardedlyoptimistic” about the status of the electric utility industry’spreparedness efforts to deal with computer-related glitches thatmay arise with the arrival of the new millennium.

Torch Energy Advisors Inc. and Advantage Energy Services Ltd.formed EnerStar Services to provide oil and gas operations andtechnical outsourcing services in North America. Bill Ploquet,former president of Advantage Energy Resources, has been named CEOof EnerStar.

The Department of Justice (DOJ) has given Sierra Pacific Powerand Nevada Power – the two largest providers of electricity andnatural gas in Nevada – a clean bill of health on the antitrustaspects of their proposed merger. The DOJ action came in the wakeof FERC’s approval of the $4 billion transaction last Wednesday.

New Mexico Gov. Gary Johnson signed into law a bill opening thestate’s electric power market to consumer choice beginning in 2001.

Energy Secretary Bill Richardson has called on FERC to design anoffshore policy that encourages private-sector investment in theGulf of Mexico gas infrastructure and the development of advancedproduction technologies. Such a policy would be in keeping with theClinton administration’s 1993 domestic natural gas and oilinitiative, he wrote in a recent letter to Chairman James Hoecker.

Energy Secretary Bill Richardson has called on FERC to issue anoffshore policy that’s conducive to private-sector investment innew technologies and the natural gas infrastructure in the Gulf ofMexico. Such a policy would be in keeping with the Clintonadministration’s 1993 domestic natural gas and oil initiative, hewrote in a letter to Chairman James Hoecker.

The investigation that led the Natural Gas Supply Association(NGSA), to accuse its president of misappropriating funds wassparked by a bill from the Internal Revenue Service, requiring aconsultant to pay taxes on income he never received for services henever provided to NGSA.

Energy Secretary Bill Richardson last week announced the Clintonadministration will allow producers with offshore federal leases topay part of their royalties with oil for a limited time rather thanwith cash. With this action, DOE would draw down the oil oversupplythat has been depressing prices and provide some relief, if onlytemporarily, to small oil and gas producers. Richardson indicatedthe department will announce further initiatives this week to boostlagging oil and gas production in the United States.