Crippled

BP plc’s latest attempt to collect some of the oil leaking from its crippled Macondo well in the Gulf of Mexico (GOM) was showing promise Friday morning, but it was too early to say whether the effort will be a success, the company said.

BP plc’s latest attempt to collect some of the oil leaking from its crippled Macondo well in the Gulf of Mexico (GOM) was showing promise Friday morning, but it was too early to say whether the effort will be a success, the company said.

Shares of BP plc plunged in U.S. and UK markets Tuesday following the failure of the company’s latest attempt to staunch the flow of oil from its crippled Gulf of Mexico (GOM) well, which is feeding the worst oil spill in U.S. history. BP is working on perhaps its most risky effort to date to stop the flow.

A staff report of a Senate subcommittee has characterized the Commodity Futures Trading Commission (CFTC) as a crippled agency in its oversight of the energy commodity markets due to a gap in its authority to monitor over-the-counter (OTC) electronic energy trading and its failure to keep track of U.S. energy trades on foreign exchanges.

Given the mild winter, the natural gas piled up in storage and the crippled economy, gas prices are expected to limp along in the $2.00 to $3.00 range for most of 2002, but watch out for the winter of 2003-2004; it could be a real zinger, with prices closing on $4.50, according to projections by Ben Schlesinger & Associates (BSA).

Given the mild winter, the natural gas piled up in storage and the crippled economy, gas prices are expected to limp along in the $2.00 to $3.00 range for most of 2002, but watch out for the winter of 2003-2004; it could be a real zinger, with prices closing on $4.50, according to projections by Ben Schlesinger & Associates (BSA).

Illustrating the tremendous demand growth that has nearly crippled California’s energy market, Kern River Gas Transmission announced a plan last week to more than double the amount of gas it transports to the state from Rocky Mountain region supply basins.

Illustrating the tremendous demand growth that has nearlycrippled California’s energy market, Kern River Gas Transmissionannounced a plan yesterday to more than double the amount of gas ittransports to the state from Rocky Mountain region supply basins.

The failure of a 7,000-horsepower motor has crippledTranswestern’s Bloomfield Compressor Station on the San JuanLateral, curtailing an estimated 100,000 MMbtu/d at 20 points. Thepipeline expects motor repairs to last until July 7.