Crack

As the Commodity Futures Trading Commission moves to crack down on excessive speculation in energy markets by imposing position limits, one U.S. senator is eyeing changes in the tax code to cut trading volume, while another will propose a bill to require the reporting of over-the-counter (OTC) derivative trades — including energy transactions — to a central trade repository, making it easier for regulators to keep closer tabs on the market.

As the Commodity Futures Trading Commission seeks to crack down on excessive speculation in energy markets by imposing position limits (see Daily GPI, July 29), a U.S. senator is eyeing changes in the tax code to achieve the same result.

Just days after Democrats turned in a solid victory last week, a crack in the party’s armor surfaced as firebrand Rep. Henry Waxman (D-CA) challenged veteran Rep. John Dingell (D-MI), who at 53 years in the House is considered the dean of the chamber, for the chairmanship of the House Energy and Commerce Committee. Senate Democrats were engaged in a little in-fighting of their own as well.

Just days after Democrats turned in a solid victory, a crack in the caucus’ armor has surfaced as firebrand Rep. Henry Waxman (D-CA) has challenged veteran Rep. John Dingell (D-MI), who at 53 years in the House is considered the dean of the chamber, for the chairmanship of the House Energy and Commerce Committee.

Sen. Barack Obama, the presumptive Democratic candidate for president, Sunday outlined a four-point plan to crack down on the “excessive” energy speculation that he claims is driving up the prices of crude oil, gasoline and other energy commodities.

North American exploration and production (E&P) companies will continue to try to crack the code to unearth the “next” Barnett Shale natural gas play in North America, but even with a few “high potential candidates,” it’s unlikely to happen in 2008, energy analysts said.

North American exploration and production (E&P) companies will continue to try to crack the code to unearth the “next” Barnett Shale natural gas play in North America, but even with a few “high potential candidates,” it’s unlikely to happen in 2008, energy analysts said.

Just a little over a week after its first crack at forecasting the 2007/2008 U.S. winter (December 2007 through February 2008), the National Oceanographic and Atmospheric Administration (NOAA) said Thursday that its latest model runs not only confirm its earlier prediction for above-average temperatures over most of the country, but also increases how warm it is expected to be. The government forecasting agency also sees a continuation of drier-than-average conditions across much of the Southwest and Southeast.

Just a little over a week after its first crack at forecasting the 2007/2008 U.S. winter (December 2007 through February 2008), the National Oceanographic and Atmospheric Administration (NOAA) said Thursday that its latest model runs confirm its earlier prediction for above-average temperatures over most of the country and a continuation of drier-than-average conditions across much of the Southwest and Southeast.