Rejects

The Bush administration has no intention of complying with a demand by the Government Accounting Office (GAO), Congress’ investigative arm, for information on the administration’s meetings with industry leaders and energy task force members while developing an energy policy, Juleanna Glover Weiss, spokeswoman for Vice President Cheney, told NGI. A deadline passed last night for the administration to respond to the GAO demand.

Foiled bidders, led by an American producer, for a package of prize natural gas assets have learned the hard way that — in Canada’s top supplier province, at least – energy free trade does not erase inherited responsibilities to consumers. Burlington Resources Canada Energy Ltd., NCE Petrofund Corp. and NCE Energy Corp. got the lesson from the Alberta Energy and Utilities Board.

Transcontinental Gas Pipe Line Corp. last week struck out again in its eight-year effort to obtain firm-to-the-wellhead (FTW) transportation rates similar to those enjoyed by its competitors.

The Ninth Circuit Court of Appeals in San Francisco took little time in rejecting an emergency request by the California legislature to force FERC to cap wholesale energy prices. The request was filed last Tuesday and tossed out by Friday. The panel ruled that the legislature did not demonstrate that the case warranted emergency action.

Saying it wants to avoid the uncoordinated development of market mitigation proposals, FERC last week rejected a proposal by Consolidated Edison Co. of New York (ConEd) to make revisions to the utility’s localized market power mitigation measures. Among other things, the Commission voiced concerns over the fact that ConEd’s proposal failed to use the New York Independent System Operator’s (NYISO) stakeholder process.

Saying it wants to avoid the uncoordinated development of market mitigation proposals, FERC earlier this week rejected a proposal by Consolidated Edison Co. of New York (ConEd) to make revisions to the utility’s localized market power mitigation measures. Among other things, the Commission voiced concerns over the fact that ConEd’s proposal failed to use the New York Independent System Operator’s (NYISO) stakeholder process.

Calgary-based Canadian 88 Energy Corp. Thursday rejected a hostile takeover bid from Canadian Superior Energy Inc. after stockholder Duke Energy, which owns 20% of Canadian 88 shares, said it did not support the proposal. Canadian Superior, begun by Canadian 88 founder Greg Noval, is less than one-tenth the size of Canadian 88, but nevertheless, it launched its takeover in April (see NGI, April 30). Noval resigned from Canadian 88 last year.

Calgary-based Canadian 88 Energy Corp. Thursday rejected a hostile takeover bid from Canadian Superior Energy Inc. after stockholder Duke Energy, which owns 20% of Canadian 88 shares, said it did not support the proposal. Canadian Superior, begun by Canadian 88 founder Greg Noval, is less than one-tenth the size of Canadian 88, but nevertheless, it launched its takeover in April (see Daily GPI, April 27). Noval resigned from Canadian 88 last year.

A recent report by Forrester Research on the impending demise of independent trading exchanges doesn’t impress Altra Energy Technologies CEO Paul Bourke, who told NGI there are a few items the researchers overlooked in their race to endorse exchanges sponsored by the New York Mercantile Exchange and by companies trading in the market.