Powerful

Apache Corp.’s conservative spending strategy and solid credit rating have proved a powerful tonic as the financial markets began to panic, CEO G. Steven Farris said Thursday.

Ex-Enron Corp. CFO Andrew Fastow, who was sentenced to six years in prison last month (see Daily GPI, Sept. 27), will be given a day pass through October to allow him to participate in a deposition to prepare for a trial against several of Enron’s former banking partners. Also on Friday, Dynegy Inc. agreed to pay Enron $44 million to resolve litigation issues, a bank settled with Enron for another $20 million, and Enron’s former corporate secretary received probation for helping prosecutors convict Enron founder Kenneth Lay and ex-CEO Jeffrey Skilling.

Ex-Enron Corp. CFO Andrew Fastow, who was sentenced to six years in prison last month (see NGI, Oct. 2), will be given a day pass through October to allow him to participate in a deposition to prepare for a trial against several of Enron’s former banking partners. Also on Friday, Dynegy Inc. agreed to pay Enron $44 million to resolve litigation issues, a bank settled with Enron for another $20 million, and Enron’s former corporate secretary received probation for helping prosecutors convict Enron founder Kenneth Lay and ex-CEO Jeffrey Skilling.

Rep. Bill Thomas (R-CA), powerful chairman of the House Ways and Means Committee, announced Monday he will retire from office at the end of the year after more than a quarter of a century in Congress.

Despite the fact that Hurricane Wilma intensified into the most powerful Atlantic hurricane on record overnight, natural gas futures traders took the news in stride Wednesday as it appeared the Gulf of Mexico’s oil and gas infrastructure would likely be spared.

Rep. Joe Barton (R-TX), chairman of the powerful House Energy and Commerce Committee, and other House Republicans on Wednesday expressed frustration with many of the natural gas price complaints of Democrats whose states consume large amounts of gas, but have done little to contribute to supply. The states — notably Florida, California and the New England region — oppose pipeline and liquefied natural gas (LNG) projects within their boundaries and/or object to drilling off their coastlines, while fueling their electric generation plants mostly with natural gas.

Rep. Richard Pombo (R-CA), chairman of the powerful House Resources Committee, is circulating a proposal that, among other things, calls for the federal government to close and sell up to 15 national parks to the oil and natural gas industry and private developers.

A bipartisan group of five powerful House lawmakers last Monday called on the Government Accountability Office (GAO) to undertake an investigation of the “vulnerabilities” of tankers bringing liquefied natural gas (LNG) and liquefied petroleum gas (LPG) into U.S. harbors to attacks by terrorists, as well as the efforts by governmental and private sector entities to step up security.

A bipartisan group of five powerful House lawmakers on Monday called on the Government Accountability Office (GAO) to undertake an investigation of the “vulnerabilities” of tankers bringing liquefied natural gas (LNG) and liquefied petroleum gas (LPG) into U.S. harbors to attacks by terrorists, as well as the efforts by governmental and private sector entities to step up security.