Disappointment

Some of Chesapeake Energy Corp.’s shareholders are voicing their disappointment in CEO Aubrey McClendon’s 2008 generous compensation package, and at least one shareholder group wants more information on how it was determined.

Some of Chesapeake Energy Corp.’s shareholders are voicing their disappointment in CEO Aubrey McClendon’s 2008 generous compensation package, and at least one shareholder group wants more information on how it was determined.

ConocoPhillips has joined with Alberta-based producers to express its disappointment in the province’s proposed oil and natural gas royalty regime changes.

The biggest disappointment of the newly-enacted energy bill is its failure to overturn the moratorium on oil and natural gas drilling in much of the federal Outer Continental Shelf (OCS), an American Gas Association (AGA) official said Friday.

The natural gas industry suffered a major disappointment last Thursday when a House Appropriations subcommittee approved a modest increase in the baseline funding for the Low-Income Home Energy Assistance Program (LIHEAP) for fiscal 2006, and failed to provide any emergency funds in the event of extreme weather and energy prices.

The natural gas industry suffered a major disappointment last Thursday when a House Appropriations subcommittee approved a modest increase in the baseline funding for the Low-Income Home Energy Assistance Program (LIHEAP) for fiscal 2006 but failed to provide any emergency funds in the event of extreme weather and energy prices.

Disappointment with the development of retail gas and powermarket competition nationwide prompted another major player toannounce it is rethinking its plans and redirecting marketingefforts. EnergyOne LLC, the 50-50 marketing alliance of UtiliCorpUnited and Peco Energy, is being restructured in order to implementnew joint strategies tailored to deal with “a competitivemarketplace that refuses to show up,” the partners said yesterday.Their announcement follows by only a week Enron’s statement that itis ceasing residential marketing efforts in several states becausecompetition has been so slow to develop.

The Clinton Administration’s electric restructuring proposalreleased this week faced immediate praise and vilification bylobbyists and legislators. “I appreciate the apparent progress onthe Administration taking a position,” said Sen. Frank H. Murkowski(R-Alaska), chairman of the Senate Committee on Energy and NaturalResources. “But the devil’s in the details-and we don’t yet havethe details since DOE has yet to provide Congress with its specificlegislative proposal.” When that is provided “we can begin holdinghearings on their measure and the other bills before the EnergyCommittee,” he added