Circulated

Senate Banking Committee Chairman Christopher Dodd (D-CT) circulated a discussion draft last Tuesday that would require over-the-counter (OTC) derivative products to be centrally cleared and traded on regulated exchanges if they do not receive an exemption from federal regulators overseeing the futures and securities markets.

Senate Banking Committee Chairman Christopher Dodd (D-CT) circulated a discussion draft Tuesday that would require over-the-counter (OTC) derivative products to be centrally cleared and traded on regulated exchanges if they do not receive exemption from federal regulators overseeing the futures and securities markets.

Salespeople for U.S. Energy Savings Corp. falsely promised savings, circulated bogus petitions “to lower heating bills” and claimed to work for regulated utilities and the government to lure people into “some of the worst natural gas deals in Illinois history,” a consumer coalition charged in a complaint filed last week. The company, however, denied the allegations and said it will “vigorously defend the action.”

Salespeople for U.S. Energy Savings Corp. falsely promised savings, circulated bogus petitions “to lower heating bills” and claimed to work for regulated utilities and the government to lure people into “some of the worst natural gas deals in Illinois history,” a consumer coalition charged in a complaint filed Monday. The company, however, denied the allegations and said it will “vigorously defend the action.”

Energy traders were abuzz Friday as reports circulated that Houston-based hedge fund Saracen Energy Partners LP is the latest to join the ranks of organizations that have recently recorded large losses on wrong-way trades in the natural gas futures market. Some traders pointed to the fallout as explanation for this week’s spike in natural gas futures.

Energy traders were abuzz last Friday as reports circulated that Houston-based hedge fund Saracen Energy Partners LP was the latest to join the ranks of organizations that have recently recorded large losses on wrong-way trades in the natural gas futures market. Some traders pointed to the fallout as explanation for last week’s spike in natural gas futures.

December natural gas futures quietly crept higher Wednesday as reports circulated that the industry could see an early withdrawal from natural gas storage when the Energy Information Administration (EIA) releases its report Thursday morning for the week ended Oct. 27. The prompt month ended up settling 17.8 cents higher at $7.712.

Atlantic LNG circulated a statement to project partners last Wednesday saying that it is too early to conclude that the ongoing strike by workers who are building the facility’s 800 MMcf/d fourth LNG train in Trinidad will delay completion of the expansion project past December 2005.

Atlantic LNG circulated a statement to project partners Wednesday saying that it is too early to conclude that the ongoing strike by workers who are building the facility’s 800 MMcf/d fourth LNG train will delay completion of the expansion project past December 2005.