Measures

As Congress debated measures to rein in “excessive” energy futures market speculation last week, an Interagency Task Force on Commodity Markets, chaired by the Commodity Futures Trading Commission (CFTC), released an interim staff report that found fundamental supply and demand factors are largely the cause of escalating oil prices in the futures market.

Dolly was promoted from a tropical storm to a full-fledged hurricane late Tuesday afternoon and precautionary measures — including shut-ins — continued during the day at exploration and production infrastructure off the lower Texas coast. But the markets were affirming a general belief that barring an unlikely turn to the north, the storm will have minimal impact on offshore operations. Cash gas fell at all points, accompanied by a futures plunge.

Often at odds in the past when utility takeover measures regularly appeared on the municipal ballot, Pacific Gas and Electric Co. and the City/County of San Francisco Tuesday continued their newfound lovefest, joining hands in a new collaborative effort to deliver energy savings/efficiency programs to residential and commercial customers in the utility’s headquarters city. Running through next year, the three-year San Francisco Energy Watch effort will spend up to $11.5 million to achieve millions more dollars in savings, the utility said.

With some interim, quick-fix measures to add peaking plant capacity and demand response programs on a crash basis, California should have more than adequate power supplies to meet expected peak demand next summer, energy officials were told last week. The assessment was provided by state energy officials during a joint meeting of the state’s major energy agencies in San Francisco.

California Gov. Arnold Schwarzenegger Tuesday signed three greenhouse gas (GHG) measures into law and his press spokespeople confirmed that he plans to sign a fourth measure Wednesday — the state’s historic “Global Warming Solutions Act” (AB 32). Schwarzenegger signed SB 107, AB 1925, and SB 1686 that deal with renewable goals, industrial carbon capturing, and forest management to reduce GHG emissions, respectively.

The Jonah Interagency Mitigation and Reclamation Office (JIO) said it selected seven out of a total of 19 project proposals received to mitigate the impact on wildlife habitat, water and air quality, and livestock forage of Jonah Field gas development in Wyoming. In this first round of projects, the JIO, which includes representatives from four state agencies and the Bureau of Land Management (BLM), spent about $660,000 out of the $24.5 million donated by EnCana Corp. for the mitigation program.

The Jonah Interagency Mitigation and Reclamation Office (JIO) said it selected seven out of a total of 19 project proposals received to mitigate the impact on wildlife habitat, water and air quality, and livestock forage of Jonah Field gas development in Wyoming. In this first round of projects, the JIO, which includes representatives from four state agencies and the Bureau of Land Management (BLM), spent about $660,000 out of the $24.5 million donated by EnCana Corp. for the mitigation program.

Just before the July 4 holiday, California’s legislature was in full operational mode, grinding out several key energy measures by Friday, including global warming emissions limits and jump-starting accelerated solar and energy efficiency initiatives. Most of the action remains in the state Senate.

Liquefied natural gas (LNG) receipt terminal development along the Mexican and California coasts has spurred the California Public Utilities Commission (CPUC) to take measures to create market diversity and stimulate LNG importation.