Making their offering to the annual Earth Day celebration scheduled for Saturday in the state capital, California Democratic state senators Thursday dedicated six legislative proposals dealing with clean energy and greenhouse gas (GHG) emissions. All of the measures were previously introduced earlier in the session, but Senate Majority Leader Don Perata used his prerogative to tie the measures to the nation’s annual environmental milestone, noting that California is attempting to create a “new energy economy.”
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Industry Brief
The energy industry is the second largest financial contributor to President Bush’s upcoming inaugural celebration on Jan. 20, according to a Washington, DC-based watchdog group. Twelve energy corporations and executives, including nine from the oil and natural gas industry, have chipped in a total of $2.3 million for the event, said Public Citizen. The single largest financial contributor is the finance and investment industry, kicking in $5 million, it noted. Of the $17.8 million raised so far for the inauguration, Public Citizen said records show that $17.1 million, or 96%, came from corporations and their senior executives, with two corporations — Ameriquest and Marriott International — effectively skirting the $250,000 cap on contributions by giving multiple checks through their subsidiaries.
Coldest Air of Season Blows Futures Up 25 Cents
Bulls continued their New Year’s celebration Tuesday at Nymex as the coldest weather of the season buoyed natural gas futures prices to levels only registered on one other occasion in the last 10 months. However, similar to Monday’s price action, the market could not hold onto its early-session highs and prices eased during the afternoon Tuesday.