Reform

The Senate has passed by voice vote an amendment to the broad financial regulatory reform bill that would make it easier for the Commodity Futures Trading Commission (CFTC) to prove manipulation in commodity and derivatives markets.

Wyoming Gov. Dave Freudenthal fired off a letter to Interior Secretary Ken Salazar slamming the department’s ambitious reform of the Bureau of Land Management’s (BLM) oil and natural gas leasing program (see NGI, Jan. 11). With the proposed changes, the governor said Interior was perpetuating the unbalanced policies in Washington, DC — this time giving environmentalists the upper hand over oil and natural gas development.

Wyoming Gov. Dave Freudenthal fired off a letter to Interior Secretary Ken Salazar last week slamming the department’s ambitious reform of the Bureau of Land Management’s (BLM) oil and natural gas leasing program. Salazar pointed to the reforms as evidence that producers’ influence over BLM policies was waning.

Proposed amendments to the omnibus Wall Street Reform and Consumer Protection Act of 2009 (H.R. 4173) cleared Thursday by the House Rules Committee for consideration on the House floor appeared to preserve the exemption for commercial commodities traders from requirements for clearing or exchange trading.

Turning attention from the war in Afghanistan and health care reform, President Obama on Thursday highlighted the nation’s economy and employment situation through a jobs summit that was met with mostly positive reviews from the energy industry.

Turning attention from the war in Afghanistan and health care reform, President Obama last Thursday highlighted the nation’s economy and employment situation through a jobs summit that was met with mostly positive reviews from the energy industry.

House Agriculture Committee Chairman Collin Peterson (D-MN) has released discussion draft legislation that seeks to reform the $580 trillion over-the-counter (OTC) derivatives market. It mirrors the draft proposal of the House Financial Services Committee in some respects but departs from it in others.

U.S. natural gas and oil activity has increased in the past 20 years, but the Department of Interior (DOI) has — at times — been unable to meet its oversight obligations and is “in need of fundamental reform,” the director of Natural Resources and Environment for the Government Accountability Office (GAO) told Congress.

U.S. natural gas and oil activity has increased in the past 20 years, but the Department of Interior (DOI) has — at times — been unable to meet its oversight obligations and is “in need of fundamental reform,” the director of Natural Resources and Environment for the Government Accountability Office (GAO) told Congress recently.