Introduce

Sen. Mel Martinez (R-FL) has offered legislation to block Cuba from engaging in oil and natural gas production off the Florida coastline. Rep. Ileana Ros-Lehtinen (D-FL) said she plans to introduce a similar bill in the House.

Sens. Byron Dorgan (D-ND) and Larry Craig (R-ID) plan to introduce bipartisan energy security legislation Wednesday that, among other things, would permit U.S. producers to explore for oil and natural gas in Cuban waters located as close as 45 miles from Florida.

Alaska Gov. Sarah Palin, who plans to introduce the Alaska Gasline Inducement Act (AGIA) to the state legislature Friday, wants the state to gift the pipeline builder with up to $500 million to begin the project. The gift would allow the state to shoulder some of the risk for the project, she said.

U.S. Sens Dianne Feinstein (D-CA), Olympia Snowe (R-ME), Carl Levin (D-MI) and Maria Cantwell (D-WA) announced plans last week to introduce the Oil and Gas Traders Oversight Act, which would require companies that trade in the electronic over-the-counter (OTC) energy trading business to keep records for five years on large trading positions and report those positions to the Commodity Futures Trading Commission (CFTC) or the Justice Department upon request.

U.S. Sens Dianne Feinstein (D-CA), Olympia Snowe (R-ME), Carl Levin (D-MI) and Maria Cantwell (D-WA) announced plans Tuesday to introduce the Oil and Gas Traders Oversight Act, which would require companies that trade in the electronic over-the-counter (OTC) energy trading business to keep records for five years on large trading positions and report those positions to the Commodity Futures Trading Commission (CFTC) or the Justice Department upon request.

Rep. Timothy Bishop (D-NY) plans to introduce stand-alone legislation in the near term to ban the construction of facilities in estuaries of national significance, such as Broadwater Energy LLC’s controversial deepwater liquefied natural gas (LNG) import terminal that is proposed for Long Island Sound, a spokesman said.

Rep. Timothy Bishop (D-NY) plans to introduce legislation in the near term to ban the construction of facilities, such as Broadwater Energy LLC’s controversial deepwater liquefied natural gas (LNG) import terminal, in estuaries of national significance, a spokesman said. Broadwater Energy seeks to locate the terminal in Long Island Sound.

The House Democratic leadership says it will introduce Friday its much-touted energy bill that is expected to focus on renewable and alternative energy, rather than traditional oil and natural gas.

The IntercontinentalExchange (ICE) announced plans Tuesday to introduce more than 50 additional cleared contracts in its over-the-counter (OTC) markets during the first half of 2006, with the first 10 contracts expected to be available for trade beginning Friday, March 3.