Rival

In what is seen as a potential blow to energy interests, Rep. Henry Waxman (D-CA) unseated longtime rival Rep. John Dingell (D-MI) last Thursday for the leadership of the powerful House Energy and Commerce Committee in a 137-122 vote of the House Democratic Caucus. Dingell has been the ranking Democrat on the House energy panel since 1981.

In what is seen as a potential blow to energy interests, Rep. Henry Waxman (D-CA) unseated longtime rival Rep. John Dingell (D-MI) Thursday for the leadership of the powerful House Energy and Commerce Committee in a 137-122 vote of the House Democratic Caucus. Dingell has been the ranking Democrat on the House energy panel since 1981.

Coming a day after IntercontinentalExchange (ICE) urged Chicago Board of Trade (CBOT) shareholders to reject the merger proposal of the Chicago Mercantile Exchange (CME), management at CME on Friday urged CBOT’s shareholders and members to vote in favor of the combination of the Chicago exchanges at a July 9 special meeting.

CNX Gas Corp. obtained a favorable lower court ruling last week in a case concerning whether rival producer GeoMet Inc. has the right to construct natural gas pipelines and transport gas across a disputed 32-acre leasehold in southwest Virginia.

CNX Gas Corp. obtained a favorable lower court ruling this week in a case concerning whether rival producer GeoMet Inc. has the right to construct natural gas pipelines and transport gas across a disputed 32-acre leasehold in southwest Virginia.

Battling back from a barrage of criticism from its Chicago Mercantile Exchange (CME) rival, IntercontinentalExchange, Inc.(ICE) Monday announced two additional big bank advisors to its bid for the Chicago Board of Trade (CBOT) exchange and launched a conference call to proclaim the virtues of a CBOT merger with the small but fast-growing ICE.

IntercontinentalExchange Inc. (ICE) Thursday made a rival bid for Chicago Board of Trade parent CBOT Holdings Inc. in a $9.9 billion stock-for-stock transaction that would create “the world’s most comprehensive” derivatives exchange. The proposal is a direct challenge to a pending $8 billion bid for CBOT by the Chicago Mercantile Exchange (CME) (see Daily GPI, Oct. 18, 2006).

While the 2006 Atlantic hurricane season is still expected to be “very active,” the good news is it is not expected to rival the ferocity of last year’s record-setting season, according to Colorado State University’s Tropical Meteorology Project (TMP), headed up by respected researchers Philip J. Klotzbach and William M. Gray.

Penn West Energy Trust has agreed to buy rival Petrofund Energy Trust in a friendly deal worth C$2.99 billion (US$2.61 billion), which will create Canada’s largest energy trust by sales. The combined trust will have a value of about C$11 billion.