Chair

Senate Agriculture Committee Chair Blanche Lincoln (D-AR) Friday came out with a much-anticipated bill aimed at reining in commodities market speculation by forcing over-the-counter (OTC) derivative trades onto regulated exchanges and clearinghouses. As expected, it would include an exemption for large commercial traders who use derivatives to hedge the risk associated with trading of physical products.

Senate Agriculture Committee Chair Blanche Lincoln (D-AR) Friday came out with a much-anticipated bill aimed at reining in commodities market speculation by forcing over-the-counter (OTC) derivative trades onto regulated exchanges and clearinghouses. As expected, it would include an exemption for large commercial traders who use derivatives to hedge the risk associated with trading of physical products.

Senate Agriculture Committee Chair Blanche Lincoln (D-AR) has postponed until Friday the release of a highly explosive bill that would require major swap dealers to separate their derivatives businesses from investment bank activities; would provide a “narrow exemption” to bona fide hedgers of the requirements for mandatory trading and clearing of over-the-counter (OTC) derivatives; and would increase the enforcement authority of regulators.

Senate Agriculture Committee Chair Blanche Lincoln (D-AR) has postponed until Friday the release of a highly explosive bill that would require major swap dealers to separate their derivatives businesses from investment bank activities; would provide a “narrow exemption” to bona fide hedgers of the requirements for mandatory trading and clearing of over-the-counter (OTC) derivatives; and would increase the enforcement authority of regulators.

Senate Agriculture Committee Chair Blanche Lincoln (D-AR) may unveil as early as Thursday a bill that would give only bona fide hedgers of “legitimate commercial risk” a limited exemption from the proposed regulatory requirements of the nearly $500 trillion over-the-counter (OTC) derivatives market.

Senate Agriculture Committee Chair Blanche Lincoln (D-AR) may unveil as early as Thursday a bill that would give only bona fide hedgers of “legitimate commercial risk” a limited exemption from the proposed regulatory requirements of the nearly $500 trillion over-the-counter (OTC) derivatives market.

Members of the Railroad Commission of Texas elected Railroad Commissioner Michael L. Williams to serve as chair of the state’s oldest regulatory agency. Williams last chaired the Commission from September 1999 to September 2003. Since that time, both Commissioner Victor Carrillo and Commissioner Elizabeth Ames Jones have served as chairs. Williams noted how the energy industry has changed since he was last chairman. “This new century already has become an exciting one for the energy industry. Eight years ago, oil and natural gas producers were struggling to keep their businesses afloat. Today, world energy demand has swollen to such levels that producers struggle to meet the demand. Eight years ago, the Barnett Shale was a promising natural gas play in rural North Texas. Today, it is one of the largest producing fields in the nation and includes production in downtown Fort Worth. Eight years ago, the commission rolled out a pilot project for the on-line filing of one form. Today, over 20 forms can be filed on-line, with additional forms to be added this year. Eight years ago, the state had over 25,000 noncompliant wells. Today, fewer than 12,000 wells are on the Oilfield Cleanup Fund plugging list with over 12,000 plugged in the past eight years.”

After six days of quarreling with the prosecutor — and at times his own lawyer — Enron Corp. founder Kenneth Lay completed his turn in the witness chair early Tuesday, telling jurors that he loved Enron and that watching it collapse into bankruptcy was “the most painful thing” in his life.

Former Enron Corp. CEO Jeffrey Skilling, more animated and at times testy on his second day in the witness chair, Tuesday said the ex-Enron executives who testified that he manipulated earnings and lied to investors were not telling the truth. Skilling also deflected responsibility for the content of Enron’s Securities and Exchange Commission (SEC) filings and earnings releases, telling jurors he was often the last person to see them before they were issued.