Creates

Demand for gas storage capacity in the Rockies is growing as gas demand continues to grow and the push for more renewable energy such as wind power creates a need for more back-up gas-fired generation. Xcel Energy told Colorado state regulators last week that it’s in the market for more storage space to support its gas supply portfolio.

Demand drives prices up, which spurs investment, which creates more supply: barrels, Btus… and employees. The energy industry will find itself seriously short of a variety of skilled and professional employees for quite some time, but the supply response is ratcheting up in a number of ways.

Demand drives prices up, which spurs investment, which creates more supply: barrels, Btus… and employees. The energy industry will find itself seriously short of a variety of skilled and professional employees for quite some time, but the supply response is ratcheting up in a number of ways.

Consent order in hand, Chevron Corp. and Texaco Inc. became the latest of the majors to merge, after the U.S. Federal Trade Commission (FTC) gave its approval on Friday. The new company, ChevronTexaco Corp., moves to fifth place on the majors’ list, following arduous negotiations that actually began more than two years ago (see NGI, June 7, 1999). The companies finally came to terms last October, and cinched the deal after Texaco agreed to spin off several of its businesses (see NGI, Aug. 13; Oct. 23, 2000).

Consent order in hand, Chevron Corp. and Texaco Inc. became the latest of the majors to merge, after the U.S. Federal Trade Commission (FTC) gave its approval on Friday. The new company, ChevronTexaco Corp., moves to fifth place on the majors’ list, following arduous negotiations that began more than two years ago (see Daily GPI, June 4, 1999). The companies finally came to terms last October and cinched the deal after Texaco agreed to spin off several of its businesses (see Daily GPI, Aug. 13; Oct. 17, 2000).

The Senate on Tuesday approved a measure that creates a new Pipeline and Hazardous Materials Administration (PHMA) under the authority of the Department of Transportation, elevating the issue of pipeline safety to a higher level within the Bush administration and giving the administrator of the office a position requiring Senate approval. The PHMA will oversee the Office of Pipeline Safety (OPS), which has oversight over natural gas and hazardous liquids pipelines. An earlier proposal, which was opposed by the American Gas Association and others in the industry, sought to transfer the OPS to the Federal Railroad Administration.

The Senate on Tuesday approved a measure that creates a new Pipeline and Hazardous Materials Administration (PHMA) under the authority of the Department of Transportation, elevating the issue of pipeline safety to a higher level within the Bush administration and giving the administrator of the office a position requiring Senate approval. The PHMA will oversee the Office of Pipeline Safety (OPS), which has oversight over natural gas and hazardous liquids pipelines. An earlier proposal, which was opposed by the American Gas Association and others in the industry, sought to transfer the OPS to the Federal Railroad Administration.

American Electric Power (AEP) last week said it is reorganizing its distribution and customer service operations into seven regional utility divisions, placing operational authority in the hands of division presidents and their support staffs.

Houston-based independent Burlington Resources Inc. last week said it would reallocate some of its overseas capital into North American operations this year, with 7% more in U.S. operations and 5% more in Canada. The company also created an Office of the Chairman, which will include its current CEO along with the COO and CFO.