Third Man Named in Coastal Fraud Complaint

The Commodity Futures Trading Commission (CFTC) and the U.S.Department of Justice are now after three people for allegedlymisappropriating energy futures trades from Coastal, defrauding thecompany of millions of dollars. Robert C. Rossi joins formerCoastal States Trading Corp. employee Steven G. Soule; and Kyler F.Lunman II, owner of Hold-Trade Inc. (Ltd.) as a respondent in thecase.

February 22, 1999

MMS Issues Notice for Central Gulf Sale 172

The U.S. Department of the Interior’s Minerals ManagementService (MMS) doesn’t expect Sale 172 in the Central Gulf of Mexico(GOM) scheduled for March 17, 1999 in New Orleans to set anyrecords.

February 16, 1999

Gas Deregulation Schedule Set in MA

The Massachusetts Department of Telecommunications and Energy(DTE) sent an order (File # 98-32-B) last Wednesday to all 10 stategas utilities, requiring them to deregulate service to residentialcustomers by 2004. The order directed gas utilities to work withmarketers on planning for a competitive market during the five-yeartransition. After the first three years of the program, the DTEsaid it will review the situation to determine if additionalefforts are needed to help spur competition. Massachusettscommercial and industrial consumers have had gas customer choicesince 1993.

February 8, 1999

MMS Notices Proposed East Gulf Lease Sale

The U.S. Department of the Interior’s Minerals ManagementService (MMS) served official notice Tuesday of its intentions tohold lease sale 181 for 5.949 million acres in the eastern Gulf ofMexico. The MMS issued a Call for Interest and Information and aNotice of Intent (NOI), which gives interested parties 60 days tocomment on the proposed sale. The MMS tentatively scheduled thesale for December 2001. An MMS spokesperson said no minimum bid hasbeen set.

January 27, 1999

Moler Joins Vinson & Elkins Energy Practice

Elizabeth Anne “Betsy” Moler, former deputy secretary of theU.S. Department of Energy and chair of the Federal EnergyRegulatory Commission,is leaving the public sector for privatepractice at a major law firm.

November 16, 1998

DOE Research Budget Targets Turbines, Fuel Cells

Advanced turbine systems (ATS), including microturbines, andfuel cells, took the top dollars in the Department of Energyresearch, development and demonstration budget for FY99, accordingto a budget assessment by the American Gas Association. Overall,AGA estimated DOE’s research funding for natural gas set a newrecord at $246 million. That’s up from the $209 million in thisyear’s budget.

October 29, 1998

Depressed Oil Market Hinders Lease Sale

The U.S. Department of the Interior’s Minerals ManagementService (MMS) received more than $741.85 million in 486 bids duringthe Western Gulf of Mexico Lease Sale No. 171. Winning or high bidstotaled $553.4 million for 402 blocks.

August 27, 1998

Richardson Nomination Hearing to be Heated

The White House nomination of Bill Richardson, U.S. ambassadorto the United Nations, to head up the Department of Energy (DOE) islikely to come under heavy fire once it gets to Capitol Hill.

June 23, 1998

NEV to Supply Power to DOD Facilities

New Energy Ventures won a huge four-year power supply contractwith the Department of Defense that covers 1,200,000 MWh ofelectricity annually is worth $300 million. Among the servicesincluded in the contract are energy procurement and access to dailyincremental electric usage and demand data for each site via NewEnergy Ventures’ customer service Web site,

May 15, 1998

Pena Says DOE Restructuring Bill Nearly Complete

Departing Energy Secretary Federico Pena indicated yesterday thedepartment has nearly finished its work on the legislative proposalfor electricity restructuring, but other federal agencies arelagging behind in their input.

May 13, 1998