Heads

The heads of the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission (SEC) last Wednesday said they were making progress in harmonizing the jurisdictional areas of the two agencies, but they told House lawmakers they may need more time beyond a Sept. 30 deadline to submit a final report to Congress.

The heads of two powerful House committees late Tuesday reached a deal that paves the way for a vote on climate change legislation by the end of the week.

The supply and distribution segments of the natural gas industry butted heads last Tuesday during a California Energy Commission (CEC) workshop examining how gas is bought by utilities and large noncore purchasers. From the utilities’ point of view, the state-sanctioned incentive mechanism and month-to-month purchases are resulting in generally low prices for retail consumers.

The supply and distribution segments of the natural gas industry butted heads Tuesday during a California Energy Commission (CEC) workshop examining how gas is bought by utilities and large noncore purchasers. From the utilities’ point of view, the state-sanctioned incentive mechanism and month-to-month purchases are resulting in generally low prices for retail consumers.

In a brief filed last Monday in federal appeals court in Washington, DC, the Commodity Futures Trading Commission (CFTC) butted heads with the Federal Energy Regulatory Commission (FERC) over the issue of whether FERC has jurisdiction in cases where the manipulation of natural gas futures trades subsequently influences the price of physical gas transactions.

It wasn’t in the forecasts or on the weather map, so where was that monster blizzard hiding? Doubtless many traders were scratching their heads over that question Tuesday as nearly all points recorded major gains despite the lack of severe cold or severe heat in almost every region.

In a briefing filed Monday in federal appeals court in Washington, DC, the Commodity Futures Trading Commission (CFTC) butted heads with the Federal Energy Regulatory Commission (FERC) over the issue of whether FERC has jurisdiction in cases where the manipulation of natural gas futures trades subsequently influence the price of physical gas transactions.

Even as cash and futures traders continue to scratch their heads over the recent strength in natural gas prices, the nation’s market points on Thursday were mostly higher with the exception of a few northeastern points and a number of delivery points out West.

In a Jan. 28 story entitled “LNG Regasified in Canada Heads for U.S. Northeast by 2009” (see NGI, Jan. 28), NGI incorrectly stated that EnCana Corp.’s proposed Deep Panuke project offshore of Nova Scotia remained in the planning stages with no immediate decision to start construction on the horizon. In fact, Deep Panuke was sanctioned for development by EnCana’s board of directors in October 2007 (see NGI, Oct. 27, 2007) and is proceeding to construction, with first gas expected in 2010. NGI regrets the error.