Congressional

As a congressional committee zeroed in on skyrocketing oil prices, leveling accusations of excessive speculation, the Commodity Futures Trading Commission (CFTC) last week announced that its staff has amended the “no-action relief letter” under which ICE Futures Europe is permitted direct access to U.S. customers. The change requires the adoption of equivalent U.S. position limits and accountability levels on its West Texas Intermediate (WTI) crude oil contract, which is linked to the Nymex crude oil contract.

As a congressional committee zeroed in on skyrocketing oil prices, leveling accusations of excessive speculation, the Commodity Futures Trading Commission (CFTC) announced that its staff has amended the “no-action relief letter” under which ICE Futures Europe is permitted direct access to U.S. customers. The change requires the adoption of equivalent U.S. position limits and accountability levels on its West Texas Intermediate (WTI) crude oil contract, which is linked to the Nymex crude oil contract.

IntercontinentalExchange (ICE), a leading electronic energy trading platform, Friday assailed congressional Democrats’ “hastily submitted” legislative proposals that it says place “arbitrary controls” on regulated energy futures markets.

Bowing in part to pressure from Connecticut’s governor, attorney general, other state officials and congressional delegation, FERC on Thursday imposed more than 80 environmental, security and safety conditions in its order approving Broadwater Energy LLC’s controversial floating liquefied natural gas (LNG) project and associated pipeline to be located in Long Island Sound.

Bowing in part to pressure from Connecticut’s governor, attorney general, other state officials and congressional delegation, FERC last Thursday imposed more than 80 environmental, security and safety conditions in its order approving Broadwater Energy LLC’s controversial floating liquefied natural gas (LNG) project and associated pipeline to be located in Long Island Sound.

Two of the most significant energy-related legislative actions to occur during 2007 came late in the year — congressional passage of a slimmed-down energy bill (HR 6) and the start of debate in the Senate on climate change legislation.

Two of the most significant energy-related legislative actions to occur during 2007 came late in the year — congressional passage of a slimmed down energy bill (HR 6) and the start of debate in the Senate on climate change legislation.

As the congressional spotlight on commodities trading and regulation by the Commodity Futures Trading Commission (CFTC) grew brighter and hotter last week, it also narrowed its focus as legislators made clear they are almost exclusively interested in natural gas trading, the Amaranth case and the surrounding infrastructure, namely the CFTC, the New York Mercantile Exchange (Nymex) and IntercontinentalExchange (ICE).

As the congressional spotlight on commodities trading and regulation by the Commodity Futures Trading Commission (CFTC) grew brighter and hotter Thursday, it also narrowed its focus as legislators made clear they are almost exclusively interested in the natural gas market, the Amaranth case and the surrounding infrastructure, namely the CFTC, the New York Mercantile Exchange (Nymex) and IntercontinentalExchange (ICE).