Seventeen separate water withdrawals already approved in Pennsylvania by the Susquehanna River Basin Commission (SRBC) — mostly for natural gas operators — have been temporarily suspended because of localized stream flow levels that have fallen throughout the basin on drought conditions, officials said.
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Susquehanna Commission Settles with Gas Producers
The Susquehanna River Basin Commission (SRBC) has accepted settlement offers from Chesapeake Energy Corp. and J-W Operating Co. on compliance matters related to natural gas well development that the commission regulates in a portion of the Marcellus Shale.
Lawmakers Say Enron ‘Wake-Up Call’ to Deeper Problems
Former energy giant Enron Corp.’s rapid fall from grace and descent into bankruptcy became the center of attention on Capitol Hill and elsewhere in Washington, DC, last week, as legislators and regulators warned of more Enron-like companies that were top-heavy in debt, calling for more transparent and frequent financial reporting by companies, simpler accounting rules, stepped-up oversight by the Securities and Exchange Commission (SEC) and legislative changes to protect employee pension plans. In short, they see Enron’s collapse as just the tip of the iceberg.
Low-Priced Heating Oil Replaces Gas
A mild European winter with accompanying low heating oil priceswas the saving grace for U.S. industrials that took advantage ofthe flood of heating oil imports to switch off high-priced naturalgas. Revised estimates by Raymond James Associates show industrialsswitching at 5 Bcf/d during the coldest part of the winter, ratherthan the 3 Bcf/d originally estimated.