Overwhelmingly

Shareholders of Petro-Canada and Suncor Energy Inc., both based in Calgary, have overwhelmingly approved Suncor’s C$22.2 billion (US$20.2 billion) merger offer, which was made in March (see Daily GPI, March 24). The combined company, which would carry the Suncor brand, would create Canada’s largest oil and gas producer. Petro-Canada shareholders voted 96% in favor of the transaction; 98% of Suncor’s shareholders were in favor. Before it is completed, the transaction requires approval by Canada’s Competition Bureau and an Alberta court. The combination of the two companies is expected to save C$1 billion a year in capital costs and C$300 million annually in operating expenses. Closing is expected by the end of September.

Chevron Corp. shareholders on Wednesday overwhelmingly rejected a proposal to compel the oil major to issue an environmental protection report on its worldwide operations.

The Senate Tuesday overwhelmingly passed its $838 billion economic stimulus package that offers tax breaks and increased spending for production of renewable fuels, new power transmission facilities and energy efficiency and conservation. But the tough work lies ahead as the Senate and House try to meld their divergent bills into a conference report.

The Senate Tuesday overwhelmingly passed an $18 billion package to extend tax credits for renewable fuels and energy efficiency, many of which are due to expire at the end of the year. But rather than accept the Senate tax bill, the House Wednesday adopted a different strategy — raising the likelihood that the ongoing disagreement between the two houses over tax policy will not be resolved before Congress adjourns.

Louisiana’s Mineral Board (LMB) raked in $93.8 million at its August lease sale last Wednesday, nearly double the $48.7 million collected in July’s sale (see NGI, July 21), overwhelmingly thanks to the shale gas play they call the Haynesville.

Louisiana’s Mineral Board (LMB) raked in $93.8 million at its August lease sale Wednesday, nearly double the $48.7 million collected in July’s sale (see Daily GPI, July 17), overwhelmingly thanks to the shale gas play they call the Haynesville.

The House last Thursday overwhelmingly approved a bill (HR 2830) that would require, among its provisions, that the U.S. Coast Guard enforce security zones around the nation’s liquefied natural gas (LNG) terminals and arriving tankers. The 397-7 vote is more than enough to override a promised veto by President Bush.

The House Thursday overwhelmingly approved a bill (HR 2830) that would require, among its provisions, that the U.S. Coast Guard enforce security zones around the nation’s liquefied natural gas (LNG) terminals and arriving tankers. The 397-7 vote is more than enough to override a promised veto by President Bush.

The Senate on Thursday overwhelmingly voted in favor of an amendment to extend $5.5 billion in renewable energy production and efficiency tax credits as part of a housing mortgage bill (HR 3221) that cleared the chamber.