Reauthorization

Given the growth spurt in energy derivatives trading, Congress should consider during the Commodity Futures Trading Commission’s (CFTC) reauthorization process whether the agency’s current regulatory structure for energy derivatives, especially in exempt commercial markets, is sufficient to ensure fair trading and accurate pricing of energy commodities, the Government Accountability Office (GAO) said in a report released Friday.

Given the growth spurt in energy derivatives trading, Congress should consider during the Commodity Futures Trading Commission’s (CFTC) reauthorization process whether the agency’s current regulatory structure for energy derivatives, especially in exempt commercial markets, is sufficient to ensure fair trading and accurate pricing of energy commodities, the Government Accountability Office (GAO) said in a report released Friday.

The Senate Commerce Committee last Thursday voted out a $353 million pipeline safety reauthorization bill to the Senate floor, but pipeline industry officials aren’t optimistic that legislation will clear both houses of Congress this year.

The Senate Commerce Committee on Thursday voted out a $353 million pipeline safety reauthorization bill to the Senate floor, but pipeline industry officials aren’t optimistic that legislation will clear both houses of Congress this year.

Some say the long-awaited pipeline safety reauthorizationlegislation that was unveiled by the Clinton administration earlierlast week is a pipeline’s worst nightmare come true. It imposestougher safety standards, gives the Department of Transportation(DOT) more inspection muscle, quadruples the amount of civilpenalties for violators, enhances criminal enforcement andstrengthens the role of states in inspecting pipelines.

Some say the long-awaited pipeline safety reauthorizationlegislation that was unveiled by the Clinton administration earlierthis week is a pipeline’s worst nightmare come true. It imposestougher safety standards, gives the Department of Transportation(DOT) more inspection muscle, quadruples the amount of civilpenalties for violators, enhances criminal enforcement of violatorsand strengthens the role of states in inspecting pipelines.