Fearing that the protections for Florida offered in the Senate’s Lease Sale 181 bill might be gutted if merged with the House’s more expansive bill for drilling in the Outer Continental Shelf (OCS), Sen. Bill Nelson (D-FL) said he will offer an amendment during debate on the Lease 181 bill this week that will ask senators to reject up-front the competing House offshore bill.
Fearing
Articles from Fearing
Fearing Short-Covering Rally, Traders Play it Safe
With a modest 4.1-cent advance and $2.291 close Tuesday, February natural gas futures took another baby step toward what analysts and technicians believe could be the formation of a price bottom. That may seem like a bold prediction considering the overwhelmingly bearish fundamental picture. But after lying dormant during the downward price spiral of 2001, and in consideration of the large speculative short position, bull traders are cautiously rearing their horns once again.
Enron-El Paso Deal Could Mute Competition to CA
Fearing an end to pipeline competition in California, thestate’s regulators and Indicated Shippers have called on FERC tosummarily reject the three transportation agreements by which EnronNorth America Corp. has contracted for 1.25 Bcf/d of unsubscribedfirm capacity on El Paso Natural Gas.
Enron-El Paso Deal Could Mute Competition to CA
Fearing an end to pipeline competition in California, thestate’s regulators and Indicated Shippers have called on FERC tosummarily reject the three transportation agreements by which EnronNorth America Corp. has contracted for 1.25 Bcf/d of unsubscribedfirm capacity on El Paso Natural Gas.
Transportation Notes
Fearing excessive linepack over the weekend, Northern NaturalGas implemented a System Underrun Limitation in all market-areazones for the gas days of Saturday and Sunday. The SUL will endtoday.
FERC Tries to Wean AGL Off of Waivers
Fearing the potential side effects of waivers on the interstatemarket, FERC last week decided to give Atlanta Gas Light (AGL) onlya short-term extension of its waivers to Commission regulations topreserve the “status quo” of retail gas unbundling in Georgia whileit explores other non-waiver solutions for utilities.
Transportation Note
Fearing a weekend threat to system integrity from oversupply,Sonat implemented an OFO Type 6 effective Saturday (July 25) untilfurther notice. The OFO carries tiered penalties of up to $15/dthfor positive imbalances exceeding 8% of allocated deliveries.
FERC Examines Procedures
Fearing that it might be growing dusty and staid, FERC earlierthis month kicked off a three-month, all-encompassing review of itsprocedures and processes “to try and keep current with the times,including a very changing energy marketplace that we regulate,”Chairman James Hoecker said.