Driven by the financial market excesses that led to the recent collapse of major financial institutions, the U.S. House of Representatives Friday passed by a vote of 223 to 202 a financial regulatory reform bill that would regulate over-the-counter (OTC) derivatives for the first time, set position limits for futures commodity trading, create a Consumer Financial Protection Agency and set an orderly process for winding down large, failing non-bank financial institutions.
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Chevron CEO ‘Skeptical’ of Carbon Emissions Plan
U.S. lawmakers “vastly overstate” how quickly business can reduce carbon emissions, and they could risk an economic collapse if unrealistic reduction mandates are imposed, Chevron Corp. CEO Dave O’Reilly said Thursday in Boston.
Chevron CEO ‘Skeptical’ of Carbon Emissions Plan
U.S. lawmakers “vastly overstate” how quickly business can reduce carbon emissions, and they could risk an economic collapse if unrealistic reduction mandates are imposed, Chevron Corp. CEO Dave O’Reilly said Thursday in Boston.
Pension Expenses, Industrial Slowdown Hit NiSource Bottom Line
A $25 million jump in pension expenses related to last year’s securities market collapse and a slowdown in industrial activity in the Northern Indiana Public Service Co. (NIPSCO) service territory dragged NiSource Inc.’s 1Q2009 net operating earnings down 10.1% to $170.2 million (62 cents/share) compared with $189.4 million (69 cents/share) in 1Q2008.
Bentek Predicts Summer of Discontent for Rockies Producers
In an examination of the Rockies basis to Henry Hub blowout earlier this month — which saw Opal basis collapse to minus $6.71/MMBtu and Cheyenne Hub basis plummet to minus $7.23/MMBtu — Bentek Energy LLC finds “not much relief in sight” this summer for the region’s producers.
Full Pipes Mean Cruel Summer in the Rockies, Says Bentek
In an examination of last week’s Rockies basis to Henry Hub blowout — which saw Opal basis collapse to minus $6.71/MMBtu and Cheyenne Hub basis plummet to minus $7.23/MMBtu — Bentek Energy LLC finds “not much relief in sight” this summer for the region’s producers.
Reports Say MotherRock’s Fall Could Trip Up ABN AMRO
As the dominoes begin to fall in the wake of the collapse of energy hedge fund MotherRock LP. earlier this month, reports were circulating that Dutch bank ABN AMRO could be stuck with losses totaling $100 million, putting in jeopardy the banking giant’s plans to sell its global futures business to Swiss bank UBS, according to a story in the New York Post last week. Calls for comment to ABN AMRO were not returned.
Reports Say MotherRock’s Fall Could Trip Up ABN AMRO
As the dominoes begin to fall in the wake of the collapse of energy hedge fund MotherRock LP. last week, reports were circulating that Dutch bank ABN AMRO could be stuck with losses totaling $100 million, putting in jeopardy the banking giant’s plans to sell its global futures business to Swiss bank UBS, according to a story in the New York Post Wednesday. Calls for comment to ABN AMRO were not returned as of press time.
S&P: Williams, El Paso on ‘Comeback Trail’
After surviving near-death experiences following the collapse in the energy merchant sector in 2002, The Williams Cos. and El Paso Corp. are both on the comeback trail, Standard & Poor’s (S&P) said in a recent report.
S&P: Williams, El Paso on ‘Comeback Trail’
After surviving near-death experiences following the collapse in the energy merchant sector in 2002, The Williams Cos. and El Paso Corp. are both on the comeback trail, Standard & Poor’s (S&P) said in a recent report.