Offered

In light of growing concerns about the impact of speculation in energy markets, senators have offered a flurry of measures that would extend the regulatory arm of the Commodity Futures Trading Commission (CFTC), as well as immediately increase its funding.

Holding to their word to rebuff an energy package offered up by Senate Republicans earlier this month, Senate Democrats last week rolled out energy legislation that would revoke $17 million in tax breaks for energy companies, impose a windfall profits tax on energy companies that don’t invest in renewable energy sources and impose federal penalties for energy price gouging. The legislation proposal drew immediate criticism from industry-related business groups, including IntercontinentalExchange (ICE), the New York Mercantile Exchange (Nymex) and the National Association of Manufacturers (NAM).

Holding to their word to rebuff an energy package offered up by Senate Republicans last week, Senate Democrats Wednesday rolled out energy legislation that would revoke $17 million in tax breaks for energy companies, impose a windfall profits tax on energy companies that don’t invest in renewable energy sources and impose federal penalties for energy price gouging. The legislation proposal drew immediate criticism from the New York Mercantile Exchange (Nymex) and the National Association of Manufacturers (NAM).

Chevron Corp. has shelved plans to sell its natural gas storage operations in British Columbia because the offered bids didn’t match the asset’s worth, the oil major said.

All 10 Bcf of firm storage service offered during a recently concluded open season by MoBay Storage Hub, an affiliate of Falcon Gas Storage Co. Inc., has been awarded, the company said last week.

All 10 Bcf of firm storage service offered during a recently concluded open season by MoBay Storage Hub, an affiliate of Falcon Gas Storage Co. Inc., has been awarded, the company said Monday.

Alaska’s Point Thomson leaseholders have offered the state a series of steps they will take by 2013 to develop the long-dormant North Slope oil and gas field, which the state has been trying to reclaim in court.

Alaska’s Point Thomson leaseholders have offered the state a series of steps they will take by 2013 to develop the long-dormant North Slope gas field, which the state has been trying to reclaim in court.

Natural gas supply imports to the United States fell in 2006 as European and Asian markets offered higher prices for liquefied natural gas (LNG) and volumes available from Canada fell, the Energy Information Administration (EIA) said. However, the government’s molecule counter enumerated global LNG liquefaction developments that will feed all markets, including the U.S.