Forwarded

In his long-awaited $3.77 trillion budget for fiscal year (FY) 2014 unveiled on Wednesday and forwarded to Congress, President Obama again sought to repeal tax breaks for oil and natural gas producers. He also proposed tacking on new fees and increasing oil and gas royalties to fund renewable fuel development.

In a report forwarded to Congress Thursday, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) said it was far too soon to determine whether there were no “gaps or inconsistencies” between the U.S. and international regulation of the multi-trillion dollar derivatives market.

Eight energy trade associations last Wednesday forwarded a letter to House lawmakers expressing their support for two bills that would shield commercial end-users from some of the more restrictive requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Eight energy trade associations Wednesday forwarded a letter to House lawmakers expressing their support for two bills that would shield commercial end-users from some of the more restrictive requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The fiscal 2011 budget deal approved by Congress Thursday and forwarded to the White House has some good and bad news for agencies overseeing the energy industry.

The fiscal 2011 budget deal approved by Congress last Thursday and forwarded to the White House has some good and bad news for agencies overseeing the energy industry.

Congress forwarded legislation to President Bush last Thursday that closes the “Enron Loophole,” which has allowed large electronic trading platforms to circumvent the full oversight of the Commodity Futures Trading Commission (CFTC) for years.

Congress last week forwarded to the White House legislation to temporary suspend deliveries of crude oil to the Strategic Petroleum Reserve (SPR) in an attempt to ease gasoline prices. The measure would suspend SPR shipments until either the end of the year or when crude oil prices dip below $75/bbl. The White House indicated Thursday that President Bush, who has objected to halting SPR shipments, would not veto the measure, Reuters reported.

Congress forwarded legislation to President Bush Thursday that closes the “Enron Loophole,” which has allowed large electronic trading platforms to circumvent the full oversight of the Commodity Futures Trading Commission (CFTC) for years.