The U.S. Supreme Court upheld a lower court’s decision that a distributor could owe county taxes on natural gas that it stores temporarily along the interstate gas pipeline system. Kansas City, MO-based Missouri Gas Energy (MGE), a subsidiary of Southern Union, challenged the Oklahoma Supreme Court decision, which held that MGE owed Woods County, OK, taxes for gas stored in the North Hopeton storage facility in the Oklahoma Panhandle. Before the high court, MGE argued that it was immune to the taxation under the the Commerce Clause. Millions of dollars were at stake in the case. Harriet Miers, former White House counsel and former President George W. Bush’s one-time nominee for the Supreme Court, filed the petition for certiorari in 2009 on behalf of MGE (see NGI, Oct. 19, 2009). At issue in the case was whether states and local governments have the power to tax a distributor’s natural gas that is stored temporarily in an interstate pipeline system.
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Industry Brief
Altech-Eco Corp. of Asheville, NC, has obtained a certificate of conformity from the U.S. Environmental Protection Agency (EPA) for its 2010 Ford Transit Connect compressed natural gas (CNG) conversion system. The conversion allows the vehicle to run entirely on natural gas, making it the only EPA-certified 2010 CNG system for the 2010 Transit Connect worldwide, the company said. Households or companies can receive a $4,000 federal income tax credit by purchasing the vehicle. A bi-fuel option using both CNG and gasoline is also available. The CNG conversion system for the Transit Connect is now available at participating Ford dealers and approved aftermarket conversion facilities, or by contacting Altech-Eco.
Industry Brief
Altech-Eco Corp. of Asheville, NC, has obtained a certificate of conformity from the U.S. Environmental Protection Agency (EPA) for its 2010 Ford Transit Connect compressed natural gas (CNG) conversion system. The conversion allows the vehicle to run entirely on natural gas, making it the only EPA-certified 2010 CNG system for the 2010 Transit Connect worldwide, the company said. Households or companies can receive a $4,000 federal income tax credit by purchasing the vehicle. A bi-fuel option using both CNG and gasoline is also available. The CNG conversion system for the Transit Connect is now available at participating Ford dealers and approved aftermarket conversion facilities, or by contacting Altech-Eco.
California’s Latest Gas Storage Project Eyes 2010 Start
Assuming environmental clearances and local land-use permits are obtained this summer, California’s latest natural gas storage project, slated for an industrial area in the southeast corner of Sacramento, can be developed in six to nine months and be operating as a 7.5 Bcf capacity facility by the summer of 2010, the head of the privately funded project told NGI Friday.
California’s Latest Gas Storage Project Eyes 2010 Start
Assuming environmental clearances and local land-use permits are obtained this summer, California’s latest natural gas storage project, slated for an industrial area in the southeast corner of Sacramento, can be developed in six to nine months and be operating as a 7.5 Bcf capacity facility by the summer of 2010, the head of the privately funded project told NGI Friday.
Triangle Set for Long Haul in Nova Scotia Shale Play
Calgary-based Triangle Petroleum Corp., which has focused its exploration efforts on a frontier natural gas shale basin in Nova Scotia, has obtained a 10-year production lease in the region to continue drilling efforts.
Ex-Gas Trader Fined for False Reporting
The U.S. Commodity Futures Trading Commission (CFTC) obtained a $475,000 judgment against former natural gas trader Matthew Reed for false reporting of prices to industry price index publishers.
Former Gas Trader Fined $475K for False Reporting
The U.S. Commodity Futures Trading Commission (CFTC) obtained a $475,000 judgment against former natural gas trader Matthew Reed for false reporting of prices to industry price index publishers.
Mississippi Gas Storage Project Gets FERC Approval
Westport, CT-based NGS Energy LP added to its portfolio of merchant natural gas storage facilities in the Gulf Coast, announcing last Friday that it obtained FERC approval for its Leaf River Energy Center LLC in Mississippi.
CFTC Collects Record Fines, Disgorged Profits in FY 2008
The federal government obtained a record of more than $630 million in civil penalties, restitution and disgorgement of unjust profits in fiscal year (FY) 2008 from companies and traders that engaged in fraud, manipulation and other misconduct in the futures markets, including energy futures, the Commodity Futures Trading Commission (CFTC) reported last Thursday.
