Rep. Edward J. Markey (D-MA) on Tuesday called on Homeland Security Secretary Tom Ridge and Transportation Secretary Norman Mineta to respond to allegations contained in the latest tell-all book about the Bush administration that “al Qaeda operatives had been infiltrating Boston by coming in on LNG tankers from Algeria” apparently prior to the terrorist attacks in the U.S. on Sept. 11, 2001.
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Futures Bound Higher; Retracement Likely Thursday
Supported by the unmistakable profile of speculative fund buying, the natural gas futures market made it three in a row Wednesday as prices soared to their highest levels in nearly two months. After quickly filling in a gap on the daily chart, the January contract worked its way higher throughout the trading session on a steady diet of short-covering.
Chilly Weather Puts Nymex Bulls in Buying Mood Ahead of Holidays
After nudging higher in back-to-back range-bound sessions Friday and Monday, the natural gas futures market sprang to life Tuesday as local and commercial traders used chilly weather forecasts as an excuse to bid the market higher. A brief, early afternoon sell-off was just a blip on bulls’ radar and ultimately proved to be an opportunity for them to add to their length at slightly lower levels.
PG&E Strikes Back Against Consumer Group’s Report
Calling it a “fairy tale” and “nothing more than smoke and mirrors,” bankruptcy-bound Pacific Gas and Electric Co. late Thursday counter-attacked one of its severest critics, the utility consumer group, TURN, alleging that it “misstated the truth, manipulating facts” in an analysis released earlier in the day that attacked the utility’s proposed Chapter 11 reorganization plan. Even for these two long-time public adversaries, the rhetoric was particularly harsh.
Futures Higher on Cold Forecast, But Could Be Range-Bound
The November contract managed a $2.30 high and a 6-cent increase for the day Tuesday to $2.268 on a short-term cold weather forecast and a little fund buying. The modest market strength, however, is expected to be short-lived, according to several sources who point to few near-term fundamentals to inspire a significant rebound.
Transwestern Denies Withheld Capacity to Boost Negotiated Deals
A Transwestern Pipeline executive yesterday dismissed allegations that the pipeline withheld firm transportation capacity bound for California from its recourse-rate shippers last winter in order to free up more capacity for contracts at substantially higher negotiated rates.
Duke, Mirant Question FERC Must-Offer Directive
Duke Energy Oakland LLC is questioning whether generators should be bound by a “must-offer” obligation included in recent FERC price-mitigation orders if that compliance means that generators will have to run their generating units over and above what is allowed under the units’ air emissions permits.
Duke, Mirant Question FERC Must-Offer Directive
Duke Energy Oakland LLC is questioning whether generators should be bound by a “must-offer” obligation included in recent FERC price-mitigation orders if that compliance means that generators will have to run their generating units over and above what is allowed under the units’ air emissions permits.
FERC Awards PD to North Baja Pipeline
The Federal Energy Regulatory Commission set its seal, pending environmental review, on another westward-bound pipeline project last Wednesday. The North Baja Pipeline will carry up to 500 MMcf/d from a connection with El Paso Natural Gas near Ehrenberg, AZ, to fuel power plants and gas distribution systems in Northern Mexico and Southern California.
FERC Approves North Baja Pipeline
The Federal Energy Regulatory Commission set its seal, pending environmental review, on another westward-bound pipeline project Wednesday. The North Baja Pipeline will carry up to 500 MMcf/d from a connection with El Paso Natural Gas near Ehrenberg, AZ to fuel power plants and gas distribution systems in Northern Mexico and Southern California.