Introduced

House Democrats on Tuesday introduced legislation that would, at current prices, put an end to much of the royalty relief for oil and natural gas production on federal onshore and offshore lands. Industry urged lawmakers to look at the “full picture,” saying the federal government would lose much more than it would gain by eliminating royalty relief.

Two senators introduced legislation Wednesday that would give coastal states the flexibility to opt out of a moratorium on energy exploration and production in protected federal offshore areas.

The Federal Energy Regulatory Commission (FERC) Thursday introduced its long-awaited initiative reforming the agency’s pricing policies to promote the construction of more natural gas storage sites in the United States — an action that Chairman Joseph Kelliher said would help improve the operation of the gas markets and reduce price volatility.

Louisiana Sens. Mary Landrieu and David Vitter last Thurday introduced legislation that would give Gulf Coast producing states a share of federal revenues from offshore oil and natural gas production to help with recovery efforts in the wake of Hurricane Katrina.

Sen. Mary Landrieu (D-LA) introduced legislation Thursday that would automatically reserve a “significant portion” of Outer Continental Shelf (OCS) revenues for distribution to the five energy-producing coastal states that aren’t restricted by moratoria off their shores.

A committee in Massachusetts’ House of Representatives held a public hearing last week on a bill introduced by Rep. David B. Sullivan (D-Fall River) designed to derail the Weaver’s Cove liquefied natural gas (LNG) import terminal, which has been proposed for location in Fall River by Amerada Hess and Poten & Partners.

A committee in Massachusetts’ House of Representatives held a public hearing Tuesday on a bill introduced by Rep. David B. Sullivan (D-Fall River) designed to derail the Weaver’s Cove liquefied natural gas (LNG) import terminal, which has been proposed for location in Fall River by Amerada Hess and Poten & Partners.

Reps. Sam Graves (R-MO) and John Barrow (D-GA) have introduced legislation to “bring some stability, predictability and reliability” back into the natural gas market by, among other things, imposing tighter daily gas futures trading limits and setting new futures position reporting requirements. The congressmen claim that recent gas price spikes are a result of increased speculative trading that must be reined in.

Reps. Sam Graves (R-MO) and John Barrow (D-GA) have introduced legislation to “bring some stability, predictability and reliability” back into the natural gas market by, among other things, imposing tighter daily gas futures trading limits and setting new futures position reporting requirements. The congressmen claim that recent gas price spikes are a result of increased speculative trading that must be reined in.