Revitalization

A controversial energy policy reform bill — the Energy Policy Reform and Revitalization Act of 2007 (HR 2337), which would impose new restrictions on oil and natural gas producers and pipelines while repealing benefits that were offered to the energy industry in the Energy Policy Act of 2005 (EPAct) — will result in new discretionary spending of $2.6 billion over the 2008-2012 period, according to the Congressional Budget Office (CBO).

A controversial energy policy reform bill — the Energy Policy Reform and Revitalization Act of 2007 (HR 2337), which would impose new restrictions on oil and natural gas producers and pipelines while repealing benefits that were offered to the energy industry in the Energy Policy Act of 2005 (EPAct) — will result in new discretionary spending of $2.6 billion over the 2008-2012 period, according to the Congressional Budget Office (CBO).

Rep. Nick J. Rahall (D-WV), chairman of the House Natural Resources Committee, last week unveiled an ambitious Energy Policy Reform and Revitalization Act of 2007, which, among other things, would amend the Energy Policy Act of 2005 (EPAct) and require the Minerals Management Service (MMS) to perform at least 550 audits of oil and natural gas leases every fiscal year beginning in 2009.

Rep. Nick J. Rahall (D-WV), chairman of the House Natural Resources Committee, unveiled the Energy Policy Reform and Revitalization Act of 2007, which, among other things, would amend the Energy Policy Act of 2005 (EPAct) and require the Minerals Management Service (MMS) to perform at least 550 audits of oil and natural gas leases every fiscal year beginning in 2009.

The results are in from Southern LNG Inc.’s open season for arevitalization of the mothballed Elba Island LNG terminal, and thewinner of all 4 Bcf of capacity is Sonat Energy Services, aSouthern LNG affiliate and an affiliate of Southern Natural Gaspipeline. The winning bid was for a 22-year term at fullcost-of-service rates.

The results are in from Southern LNG Inc.’s open season for arevitalization of the mothballed Elba Island LNG terminal, and thewinner of all 4 Bcf of capacity is Sonat Energy Services, aSouthern LNG affiliate and an affiliate of Southern Natural Gaspipeline. The winning bid was for a 22-year term at fullcost-of-service rates.