Overwhelmingly

A pared-down energy bill, minus the hotly disputed $21.8 billion tax package and renewable electricity mandate, was overwhelmingly passed by the House Tuesday. The next stop for the measure is President Bush, who is expected to sign the legislation.

The House late Tuesday overwhelmingly rejected a Republican amendment that would have lifted the congressional moratorium on natural gas-only drilling off the East and West Coasts.

The Senate Finance Committee Tuesday overwhelmingly passed an energy tax package that provides $28.5 billion in tax incentives for clean and alternative fuels, of which domestic oil and natural gas producers would pay more than $20 billion of the tab.

With last week’s blasts of frigid weather only a memory in many areas, cash prices were overwhelmingly lower at most points Tuesday. Many locations in the Northeast and Gulf Coast plummeted by triple-digit amounts. Only some points in the Rockies, Pacific Northwest and Western Canada, where below-normal temperatures will be concentrated this week, ran against the overall market grain with numbers that were flat to about a nickel higher.

Kinder Morgan Inc. (KMI) stockholders last week overwhelmingly approved a management-led plan to take the company private in a transaction valued at $22 billion, including $7 billion in debt. The private equity buyout, considered one of the largest ever, will give most of the company’s shareholders $107.50 in cash, without interest, for each KMI common share, a 27% premium over the $84.41 closing price on May 26, the last trading day before the proposal was made (see NGI, June 5).

Kinder Morgan Inc. (KMI) stockholders on Tuesday overwhelmingly approved a management-led plan to take the company private in a transaction valued at $22 billion, including $7 billion in debt. The private equity buyout, considered one of the largest ever, will give most of the company’s shareholders $107.50 in cash, without interest, for each KMI common share, a 27% premium over the $84.41 closing price on May 26, the last trading day before the proposal was made (see Daily GPI, May 31).

Voting to join the old with the new, members of the New York Board of Trade (NYBOT), a 136-year-old floor-based soft commodity exchange, voted overwhelmingly last week to merge with the rapidly expanding IntercontinentalExchange (ICE), one of the newest and fastest growing electronic exchanges, in a $1 billion-plus proposed transaction.

The energy industry won a hard-fought victory Saturday when the Senate overwhelmingly approved legislation to open up parts of the natural gas-rich eastern Gulf of Mexico to oil and gas leasing. The vote came only hours after the House passed the measure Friday by 367-45 (see Daily GPI, Dec. 11).

Voting to join the old with the new, members of the New York Board of Trade (NYBOT), a 136-year-old floor-based soft commodity exchange, voted overwhelmingly Monday to merge with the rapidly expanding IntercontinentalExchange (ICE), one of the newest and fastest growing electronic exchanges, in a $1 billion-plus proposed transaction.