Broad

A broad coalition of energy consumers Wednesday called on President Bush to address the hot-button issue of “excessive” speculation in energy markets when he meets with world leaders at the G8 Summit in Japan July 7 through July 9.

A broad coalition of energy consumers last Wednesday called on President Bush to address the hot-button issue of “excessive” speculation in energy markets when he meets with world leaders at the G8 Summit in Japan July 7 through July 9.

In a decision that could have broad impact on communities seeking to block liquefied natural gas (LNG) facilities, a federal appeals court in Richmond, VA, has ruled that a Baltimore County zoning ordinance that bans the construction of LNG facilities in certain Chesapeake Bay coastal areas is preempted by the Natural Gas Act (NGA).

In a decision that could have a broad impact on communities seeking to block liquefied natural gas (LNG) facilities, a federal appeals court in Richmond, VA, has ruled that a Baltimore County zoning ordinance that bans the construction of LNG facilities in certain Chesapeake Bay coastal areas is preempted by the Natural Gas Act (NGA).

New York Mercantile Exchange Inc. (Nymex) parent Nymex Holdings Inc. has made an alliance agreement with LCH.Clearnet Ltd. to introduce a broad range of global energy products, which the companies hope will deliver improved capital and operational efficiencies through wider execution capabilities, broader credit intermediation and margining benefits for customers and market participants.

New York Mercantile Exchange Inc. (Nymex) parent Nymex Holdings Inc. has made an alliance agreement with LCH.Clearnet Ltd. to introduce a broad range of global energy products, which the companies hope will deliver improved capital and operational efficiencies through wider execution capabilities, broader credit intermediation and margining benefits for customers and market participants, they said Thursday.

Senate Democratic leaders Friday failed to win the 60 votes that were needed to end debate on the broad energy bill (HR 6) and bring it up for a final vote. The setback sets the stage this week for Senate action on an energy measure that could be a modified version of the one passed by the House last Thursday (see Daily GPI, Dec. 7).

November futures rose Friday as prices continued to consolidate in a broad trading range and traders attempted to get an idea of what winter weather will bring. Traders also lightened up on short positions prior to the weekend and elected to not carry any extended positions when unanticipated weather events such as hurricanes may impact the market.

The broad energy policy bill, which the House passed in August, would be disastrous for the nation if passed with few changes, a member and former chairman of the Texas Railroad Commission said.