The Commodity Futures Trading Commission (CFTC) has begun responding to market participant’s questions about the regulations stemming from the Dodd-Frank Wall Street Reform Act, namely the start date for swap data reporting and the reporting of cleared swap transactions. Compliance with the final rule is required once the agency has responded to a question or clarified a Dodd-Frank issue, said Commissioner Bart Chilton (see Daily GPI, Oct. 10). But in the event the CFTC doesn’t answer questions by Friday, Chilton said, “it would not be appropriate, reasonable or responsible for the Commission to proceed against entities for non-compliance with a Dodd-Frank rule unless and until they have received a response from the agency to an existing request.”
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New ASTM Panel to Develop Fracking Standards
Responding in part to the public outcry over hydraulic fracturing (fracking), ASTM International has created a subcommittee to develop consensus standards that would provide best practices for the fracking of oil and natural gas wells in shale formations.
FERC Considering Ways to Mesh Natural Gas-Power Grids
Responding to suggestions from the energy industry, FERC on Tuesday announced that it is planning five conferences in August to explore the growing interdependence between the North American natural gas and electricity grids. The technical sessions are labeled as a way to improve coordination of the gas and power markets.
PHMSA Advises Gas Pipelines to ‘Preserve, Verify’ MAOP Records
Responding to major pipeline accidents in California and Pennsylvania over the last few years that caused 22 deaths, the Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) Monday issued recommendations for natural gas pipelines to preserve and verify records related to maximum allowable operating pressure (MAOP) and advised hazardous liquid pipeline operators to adhere to the same standards for maximum operating pressure (MOP).
New York Asks Firm to Analyze Fracking Impact, Again
Responding to complaints that its findings were biased in favor of drilling, a consulting firm that studied the socioeconomic impact of hydraulic fracturing (fracking) in New York has been asked to go back and do more research.
Analysts: Eagle Ford to Rival Bakken for Tight Oil
The outlook for oil output from the Eagle Ford Shale of South Texas is strong enough to cause analysts at Wood Mackenzie to predict that it will rival the Bakken Shale by 2015 as North America’s leading tight-oil producer.
ICE, CME Duel Over Conditional Spot Month Limits
Responding to rival exchange CME Group’s most recent letter to the Commodity Futures Trading Commission (CFTC), IntercontinentalExchange (ICE) contends that CME has “undermine[d] their argument” that the agency’s proposed expansion of conditional spot month limits for all major physical commodities would heighten the threat of price manipulation.
Rockies Express: No Call to ‘Go West’
No matter how powerful the news media might seem, it can’t reverse the flow of gas on a major interstate transmission pipeline. Responding to a financial analyst’s question last week, Kinder Morgan Inc. CEO Rich Kinder said recent rumors of a flow reversal on Rockies Express Pipeline (REX) were greatly exaggerated.
Rockies Express: No Call to ‘Go West’
No matter how powerful the news media might seem, it can’t reverse the flow of gas on a major interstate transmission pipeline. Responding to a financial analyst’s question Wednesday, Kinder Morgan Inc. CEO Rich Kinder said recent rumors of a flow reversal on Rockies Express Pipeline (REX) were greatly exaggerated.
DOT Secretary Orders End to Co-Funding Pipe Safety Research
Responding to a Hearst Newspapers investigation that was highly critical of joint government-industry funding of pipeline safety research, Transportation Secretary Ray LaHood last Monday directed the federal agency responsible for ensuring pipeline safety to cease its practice of using industry funds to help finance pipeline research.
