Prodded by Gov. George H. Ryan, the Illinois Commerce Commission(ICC) yesterday voted unanimously to open a Notice of Inquiry (NOI)to investigate the high natural gas prices in the state.
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As one of his first acts as president, Sen. Pete Domenici (R-NM)has called on President George W. Bush to order the three federalagencies that have jurisdiction over U.S. energy supply to craftcoordinated policies to address the energy crisis facing thenation.
As one of his first acts as president, Sen. Pete Domenici (R-NM)has called on President-elect George W. Bush to order the threefederal agencies that have jurisdiction over U.S. energy supply tocraft coordinated policies to address the energy crisis facing thenation.
Just what can the energy industry expect to encounter underincoming President-elect George W. Bush’s administration? It’s asafe bet the former Midland, TX, oilman, paired with formerHalliburton CEO Dick Cheney, will be more open to expanding oil& gas exploration and production. Beyond that, anyone with aninterest in making friends and influencing people in the new Bushadministration, might make use of the following list of Dubya’sEnergy Transition Advisory Team:
Just what can the energy industry expect to encounter underincoming President-elect George W. Bush’s administration? Theformer Midland, TX, oilman, paired with former Halliburton CEO DickCheney, appears to be more open to new exploration and production.Add to that Bush’s recent Cabinet picks, and it beams a thousandpoints of light on what industry may expect in the next four years.
President-elect George W. Bush named Gale Norton, a formerColorado attorney general to head the Interior Department onFriday.
President-elect George W. Bush, a former oil driller, signaledlast week that he plans to move energy issues to center stage whenhe arrives in Washington, focusing on oil and natural gasexploration and production and opening up more federal lands tocarry out these activities.
In outlining his company’s strategy for this year, Union PacificResource’s CEO George Lindahl III said it will continue to focus ononshore North America plays. The company, he said, has budgeted$750 million for capital spending in 2000, including $100 millionfor property purchases. This budget should enable UPR to stabilizeproduction volumes by the middle of the year and increase volumesin the second half, while replacing over 100 percent of producedreserves. UPR also intends to continue the trend of increaseddrilling activity. Twenty-five rigs are now running in the U.S.,compared to 11 at this time last year and 17 at the end of 1999.Drilling in Canada has also picked up, with 11 rigs running today,compared to 13 in March of 1999 and four at year-end. Lindahlfocused on three specific areas that will be vital for thecompany’s growth: the Frontier play in southeast Wyoming’s GreenRiver Basin, South Louisiana’s Etouffee discovery and the Kluawells in British Columbia. “Our exploration activity in Wyoming,south Louisiana and British Columbia shows that we are making goodon our strategy, which is to find and produce natural gasopportunities onshore North America,” Lindahl said. “Our rig countshould continue to increase during the year. Development drillingis one of our strengths and we are hard at it onshore NorthAmerica, in the Gulf of Mexico and in Latin America..We believethat we are off to a good start to delivering value in 2000.”