President Bush’s focus on security in the upcoming State of the Union message will include “the security that comes from being energy-independent and having reliable supplies of American-made fuel, White House spokesman Ari Fleischer said in a news briefing Thursday. “Among the domestic policy issues that the president will focus on throughout 2002 are the creation of jobs for the American people, helping the economy to grow out of the recession and recover, energy independence and the development of a comprehensive energy plan. I remind you that it again is another exciting bipartisan opportunity for the country. It passed — the president’s energy plan passed the House with a rather sizeable bipartisan vote; the President hopes the Senate will take action.” There has been no decision as to exactly what day the president’s address to Congress will be given this year, a spokesman said. It usually occurs around Jan. 20.
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Argentina Currency Devaluation Impacts Energy Industry
Argentina’s economic “restoration plans” that include a devaluation of the currency announced last Sunday will impact a number of companies with operations in South America, including Sempra Energy, Duke Energy and other private-sector investors in utility and energy projects in South America’s third largest economy. San Diego-based Sempra with 43% stakes in two Argentine natural gas utilities Monday said it was closely monitoring the situation and assessing to see if the potential impact on future earnings would be enough to warrant a formal announcement.
GISB Expansion Would Include Power Standards
Acknowledging that the natural gas industry had converged to a point with the power industry where it is now one energy industry, the Gas Industry Standards Board (GISB) has adopted a working model for a new organization that would set the rules and practices for wholesale and retail electricity along with natural gas markets. By a unanimous 25-0 vote, GISB formally expanded its purpose to permit the “consideration of electric wholesale and retail standards and model business practices.”
Coast Guard Bans Distrigas LNG Shipment into Boston Harbor
The U.S. Coast Guard earlier this week extended its ban on tanker shipments to include a Distrigas liquefied natural gas (LNG) tanker into Boston Harbor, saying that the ship will be denied entry until it has provided an “approved safety and security plan and all response agencies are confident that appropriate safety and security measures are in place.”
Sempra CEO Sees LNG Coming to West Coast in 5 Years
Liquefied natural gas (LNG) imports will be a reality on the U.S. West Coast within five years with North Baja in Mexico as its base, and San Diego-based Sempra Energy intends to be a “significant player” in the developing business, according to Sempra’s CEO Steve Baum, speaking Thursday during the company’s second quarter earnings conference call.
DTE Says 2001 Earnings are on Track
DTE Energy Co. clarified its 2001 earnings predictions on Friday to include restructuring impacts and goodwill amortization related to its recently completed merger with MCN Energy Group. Despite “significant variations in quarterly earnings” because Michigan’s electric restructuring and its acquisition of a seasonally-oriented gas business, it expects overall earnings to remain on track.
CEO: DTE 2Q, 2001 Earnings on Track
DTE Energy Co. clarified its 2001 earnings predictions on Friday to include restructuring impacts and goodwill amortization related to its recently completed merger with MCN Energy Group, saying it expected “significant variations in quarterly earnings” because of the suspension of fuel and purchased-power cost recovery as part of Michigan’s restructuring legislation in 2000, but expected earnings to remain on track.
AGA Recall Proposal Assailed at FERC
The American Gas Association’s (AGA) proposal to expand the rights of firm capacity-holders to recall released capacity — to include recalling capacity on which gas has already been nominated or scheduled to flow — has come under fire at FERC from natural gas producers, marketers and pipelines.
AGA Recall Proposal Assailed at FERC
The American Gas Association’s (AGA) proposal to expand the rights of firm capacity-holders to recall released capacity — to include capacity on which natural gas has already been scheduled to flow — has come under fire at FERC from natural gas producers, marketers and pipelines.
Davis Outlines State Buyout of Power Lines
California Gov. Gray Davis “delivered” on his plan to buy outthe transmission systems of the financially-troubled investor-ownedutilities in the state Friday, outlining the framework of a deal,but with no dollar signs attached and no on-the-record agreementswith the utilities.
