Confirming

President Obama Thursday tapped Acting Chairman Jon Wellinghoff to be chairman of the Federal Energy Regulatory Commission, confirming speculation that has been rampant in Washington, DC, energy circles for the past week. The president also announced his intent to nominate existing FERC Commissioner Suedeen Kelly for a third term at the agency.

Confirming that the transition from physical pit trading to electronic marketplaces is indeed impacting the way traders and exchanges do business, a Reuters article said Friday that Nymex Holdings, parent company of the New York Mercantile Exchange (Nymex), has plans to consolidate its energy and metals trading floors in an effort to cut costs. The question remains as to whether floor trading will ultimately go the way of the Dodo bird.

Confirming that the transition from physical pit trading to electronic marketplaces is indeed impacting the way traders and exchanges do business, a Reuters article said Friday that Nymex Holdings, parent company of the New York Mercantile Exchange (Nymex), has plans to consolidate its energy and metals trading floors in an effort to cut costs. The question remains as to whether floor trading will ultimately go the way of the Dodo bird.

Confirming previous assumptions developed over the past number of weeks, the National Oceanic and Atmospheric Administration’s (NOAA) Climate Prediction Center announced late last week the official return of La Nina. The periodic cooling of ocean waters in the east-central equatorial Pacific favors increased Atlantic hurricane activity and can impact the typical alignment of weather patterns around the globe.

Canadian natural gas exports jumped by 8% during the first half of the current contract year, confirming that earlier forecasts of imminent decline were premature.

Confirming his summary judgement made in April of this year (see Daily GPI, April 14), U.S. District Judge Harold Baer Jr. on Monday found against Allegheny Energy Inc. on its breach of contract and fraudulent inducement claims against Merrill Lynch & Co. Inc. over Allegheny’s purchase of Merrill’s Global Energy Markets (GEM) trading business in 2001.

Canadian natural gas production dropped for the second consecutive year in 2003, confirming widespread industry and government expectations that it will contribute to tight supplies and high prices across North America.

Confirming rumors that have circulated since late April, proponents of the Mackenzie gas pipeline project announced last Wednesday that TransCanada PipeLines Ltd. has stepped in to be the financial backer of the Aboriginal Pipeline Group (APG), which holds a one-third interest in the pipeline and production project, in exchange for an option to buy a share of the pipeline.

Confirming rumors that have circulated since late April, proponents of the Mackenzie gas pipeline project announced Wednesday that TransCanada PipeLines Ltd. has stepped in to be the financial backer of the Aboriginal Pipeline Group (APG), which holds a one-third interest in the pipeline project, in exchange for an option to buy a share of the pipeline.