Dollar

Major corporations, led by ExxonMobil, GE, and Schlumberger are underwriting a multi-million dollar program, collaborating with Stanford University in an unprecedented initiative to develop global energy systems with low greenhouse gas emissions.

Transco Zone 6-New York City again skyrocketed by more than a dollar and further raised the peak price bar to $10 Tuesday, but the overall cash market rally had run out of gas, so to speak. Only Iroquois Zone 2 and Columbia-Appalachia managed to join NYC in higher numbers; the rest of the market ranged from flat to down about 20 cents. Most declines were around a dime or slightly less.

It must have been the Enron jinx that caused Anadarko Petroleum Corp. to miss a $1.7 billion ($1.08 billion, or $4.33/share, after tax) ceiling test write-down charge in the third quarter of 2001. The company revealed the error last Tuesday. It results in a larger loss for the quarter and a net loss for the full year.

It must have been the Enron jinx that caused Anadarko Petroleum to miss a $1.7 billion ($1.08 billion, or $4.33/share, after tax) ceiling test write-down charge in the third quarter of 2001. The company revealed the error late Tuesday that results in a larger loss for the quarter and a net loss for the full year.

Los Angeles County, a multi-million-dollar annual electricity and natural gas consumer, has sued San Diego-based Sempra Energy and one of its two major utility distribution companies, Southern California Gas Co., for unspecified monetary damages, alleging the companies were part of a massive conspiracy to drive up natural gas and electricity costs that ultimately will cost taxpayers “hundreds of millions of dollars,” according to a recent report in the Los Angeles Daily News, which includes a strong denial from the companies.

Los Angeles County, a multi-million-dollar annual electricity and natural gas consumer, has sued San Diego-based Sempra Energy and one of its two major utility distribution companies, Southern California Gas Co., for unspecified monetary damages, alleging the companies were part of a massive conspiracy to drive up natural gas and electricity costs that ultimately will cost taxpayers “hundreds of millions of dollars,” according to a report Sunday in the Los Angeles Daily News, which includes a strong denial from the companies.

Sen. Mary Landrieu (D-LA) introduced legislation last week to create a multi-billion-dollar fund to help the new Office of Homeland Security, in cooperation with the departments of energy, commerce and interior, in its effort to protect the nation’s physical energy assets and domestic supply from disruption due to terrorist attacks.

PG&E Corp.’s recent billion-dollar re-financing loan andother moves by its counterparts at Southern California Edison Co.will not stop the two from trying to work out a deal with the statethat includes the sale of their transmission assets and assurancesof providing long-term power supplies at below market prices. Butthere are doubts about whether the financial community will befavorably impressed by the deal.

TXU Energy Services signed a 10-year multi-million dollaragreement with Aperian Inc. to own, operate and maintain themechanical and electrical energy equipment at Aperian’s fiveInternet data centers, located in Dallas, Austin, Atlanta, Phoenixand Tampa. The contract also includes all future phases ofexpansion.