Excessive

As the Commodity Futures Trading Commission seeks to crack down on excessive speculation in energy markets by imposing position limits (see Daily GPI, July 29), a U.S. senator is eyeing changes in the tax code to achieve the same result.

The effects of global climate change, including severe droughts, excessive sea level rise, erratic storm behavior, deteriorating glaciers, pestilence and shifts in agriculture ranges, could increase instability and lead to conflict in already fragile regions of the world, witnesses said during a hearing of the Senate Committee on Foreign Relations in Washington, DC, last Tuesday.

The effects of global climate change, including severe droughts, excessive sea level rise, erratic storm behavior, deteriorating glaciers, pestilence and shifts in agriculture ranges, could increase instability and lead to conflict in already fragile regions of the world, witnesses said during a hearing of the Senate Committee on Foreign Relations in Washington, DC, on Tuesday.

Excessive federal regulation, including restrictions on hydraulic fracturing, could shut down production from the country’s prolific shale plays, according to testimony heard Thursday by the House Subcommittee on Energy and Mineral Resources in Washington, DC.

Excessive federal regulation, including restrictions on hydraulic fracturing, could shut down production from the country’s prolific shale plays, according to testimony heard Thursday by the House Subcommittee on Energy and Mineral Resources in Washington, DC.

FERC last Thursday rejected a contested Kern River Gas Transmission rate settlement, finding that the 12.50% return on equity (ROE) in the settlement rates was excessive and would result in unjust and unreasonable rates. FERC instead determined that the Wyoming-to-California pipeline’s ROE should be set at 11.55%.

FERC Thursday rejected a contested Kern River Gas Transmission rate settlement, finding that the 12.50% return on equity (ROE) in the settlement rates was excessive and would result in unjust and unreasonable rates. FERC instead determined that the Wyoming-to-California pipeline’s ROE should be set at 11.55%.

Citing high linepack levels and excessive long imbalance positions by shippers, MRT amended a previous System Protection Warning (SPW) notice (see Daily GPI, Aug. 27) to have it begin last Friday instead of Saturday as previously posted and add conditions. MRT will not schedule any volumes that result in a daily long imbalance position while the SPW is in effect. See the bulletin board for other conditions. MRT also said systemwide and/or individual “Standard” OFOs may be necessary “requiring immediate compliance if shippers do not comply with the SPW or if actual delivery volumes deviate from nominated volumes such that long daily imbalance positions occur.”

With Senate action on its Stop Excessive Speculation bill (S3268) apparently stalled, attention this week turns to a House version of legislation to extend the Commodity Futures Trading Commission’s (CFTC) role in monitoring futures markets, which may make it to the House floor before the Congress leaves for its August recess. After two days of rhetoric, the Senate Friday failed to muster the votes necessary to close debate.