Board

Canada’s fuel cell industry got a charge this week when theboard of directors of Fuel Cells Canada inaugurated a privatesector, not-for-profit organization designed to offer services andsupport to developers.

The chairman of Canada’s National Energy Board, Ken Vollman, hasfired a shot across the bows of the international natural gascommunity, urging it to do more than count the profits from today’shigh prices.

The chairman of Canada’s National Energy Board, Ken Vollman, hasfired a shot across the bows of the international natural gascommunity, urging it to do more than count the profits from today’shigh prices.

Deaths related to pipeline ruptures and/or explosions rose byeight to 26 last year, said a new National Transportation SafetyBoard (NTSB) report, which noted that most of the fatalitiesoccurred on natural gas pipelines.

Yankee Energy’s board has named Michael G. Morris president andCEO, succeeding Charles E. Gooley, who died two weeks ago followinga long battle with cancer. Morris currently is chairman, presidentand CEO of Northeast Utilities and Chairman of Yankee EnergySystem. In addition, Dennis E. Welch was elected senior vicepresident, COO and director of Yankee Energy and subsidiaries.Welch, formerly vice president of environment, safety and ethics atNU, will run the day-to-day operations of Yankee.

The Citizens Utility Board (CUB) scored two wins last week asthe Illinois Commerce Commission (ICC) voted to begin aninvestigation into Nicor Gas’ gas deregulation program andtemporarily blocked a proposed expansion of the program until thecompany can prove it benefits customers.

The Citizens Utility Board (CUB) scored two wins yesterday asthe Illinois Commerce Commission (ICC) voted to begin aninvestigation into Nicor Gas’ gas deregulation program andtemporarily block a proposed expansion of the program until thecompany can prove it benefits customers.

Marathon Oil’s new President Clarence Cazalot last week followedthrough on consolidation plans announced earlier this summer. Hesaid the company will consolidate parts of its U.S. upstreamorganization, resulting in an initial staff reduction of about 200jobs. The changes are expected to save the company about $75million/year.

Flush with profit from surging natural gas prices and a stockrise across the board this year of about 85%, North Americanindependents still appear to be in no rush to secure financing formore exploration and production activities. And unless you’ve gotequity or a strong balance sheet, lenders still may be wary beforejumping into any financing deals.