Criticism

While it continues to face challenges and criticism from the financial community for its continuing losses and relatively heavy debt load, San Jose, CA-based Calpine Corp. sees the wholesale power market turning around in key areas and is determined to play a role in importing liquefied natural gas (LNG) along the West Coast of North America, according to the CEO Peter Cartwright.

In an effort to dispel criticism and enlighten the ignorant about what influences natural gas futures prices and volatility, the New York Mercantile Exchange (Nymex) will release a special report sometime this month showing that hedge funds represented less than 10% of the natural gas futures trading volume this year between January and Aug. 31, 2004.

In an effort to dispel criticism and enlighten the ignorant about what influences natural gas futures prices and volatility, the New York Mercantile Exchange (Nymex) will release a special report in January showing that hedge funds represented less than 10% of the natural gas futures trading volume this year between January and Aug. 31.

Atlantic LNG said last week that it has not been approached by the government of Trinidad and Tobago to discuss any changes to its existing liquefied natural gas (LNG) contracts, despite claims earlier in the week by Trinidad Energy Minister Eric Williams that the company has not been passing along profits garnered from shifting LNG shipments to the premium U.S. market from Spain.

Atlantic LNG said Wednesday that it has not been approached by the government of Trinidad and Tobago to discuss any changes to its existing liquefied natural gas (LNG) contracts, despite claims earlier this week by Trinidad Energy Minister Eric Williams that the company has not been passing along profits garnered from shifting LNG shipments to the premium U.S. market from Spain.

John Guy, deputy secretary of the National Petroleum Council (NPC), said agency members plan to have discussions with several economists who claim to have found flaws in projected consumer savings and in the model used in the NPC’s massive natural gas study, which was released last fall. But Guy said the NPC is unlikely to take any action if serious problems in the report are uncovered.

FERC announced last Wednesday it was launching a broad-based review of its information-collection activities to determine what additional data it will need to bolster its oversight and monitoring of the electricity and natural gas industries. The effort in part is a response to unfavorable General Accounting Office (GAO) reports last year and in 2002, which found the Commission’s oversight and enforcement record to be lax.

Under fire for overseeing the reclassification of 20% of the company’s oil and gas reserves in January, Royal Dutch/Shell Corp.’s chairman on Thursday brushed off calls for his resignation, and said he was determined to “fix” the reserves situation.

Under fire for overseeing the reclassification of 20% of the company’s oil and gas reserves in January, Royal Dutch/Shell Corp.’s chairman on Thursday brushed off calls for his resignation, and said he was determined to “fix” the reserves situation.