In yet another side story to a toxic contamination and natural gas transmission pipeline saga that spans decades and inspired an Academy Award-winning motion picture, Pacific Gas and Electric Co. (PG&E) made local news just before the Thanksgiving holiday by offering to buy up to 100 properties in the town of Hinkley, CA, about 130 miles northeast of Los Angeles. That move comes in the wake of residents and the local board for state water regulators expressing new concerns about PG&E’s handling of ongoing toxic mitigation work corralling a 2.5-by-1-mile plume of groundwater tainted with hexavalent chromium, which was previously used by PG&E in its gas transmission pipeline operations in the Hinkley area (see Daily GPI, Nov. 16). A report in the Los Angeles Times quoted a utility spokesperson confirming that if residents in the plume zone want to sell, PG&E will be willing to buy the properties. Meanwhile, the regional water board is still investigating PG&E’s work in containing the plume and is considering options proposed by the utility. Tests have shown elevated — albeit not necessarily dangerous — levels of hexavalent chromium in domestic and agricultural water supplies. The utility and more than 600 residents reached a $333 million settlement in 1997.
Saga
Articles from Saga
Challenges to Canada’s C$16.2B Mackenzie Gas Project Continue
The saga of Canada’s Mackenzie Gas Project (MGP), a lengthy struggle marked by challenges from environmental and aboriginal groups and escalating costs, continued this week in Yellowknife, Northwest Territories, where activists accused the project’s backers, including Imperial Oil Ltd., of overlooking greenhouse gas emissions (GHG) and other potential impacts of the project.
Challenges to Canada’s C$16.2B Mackenzie Gas Project Continue
The saga of Canada’s Mackenzie Gas Project (MGP), a lengthy struggle marked by challenges from environmental and aboriginal groups and escalating costs, continued last week in Yellowknife, NWT, where activists accused the project’s backers, including Imperial Oil Ltd., of overlooking greenhouse gas emissions (GHG) and other potential impacts of the project.
Black Hills to Sell Oil Marketing Assets; Concentrate on Natural Gas
As its tries to buy the utility assets of NorthWestern Energy in a continuing saga, Rapid City, SD-based Black Hills Corp. announced late Monday it plans to sell its oil marketing operations to a subsidiary of Sunoco Logistics Partners LP. The purchase price is confidential and the transaction is expected to close in 120 days, the company said in a written announcement, noting that the cash proceeds will be used to reduce debt.
In Understatement, Enron Tells SEC Billions Overstated in Bankruptcy Filing
In a saga that could be renamed “The Incredible Shrinking Company,” Enron Corp. told the Securities and Exchange Commission (SEC) in a filing last week that up to 38% of the total assets it listed when it filed for bankruptcy — $24 billion in assets and derivative values — should be erased because of “possible accounting errors or irregularities” that overstated the company’s value. The company also warned of a possible $8-10 billion reduction to unwind some of its derivatives contracts.
Dingell Seeks Federal Safety Probe of Enron Pipes
In yet another chapter in the unfolding saga of Enron Corp., Rep. John Dingell (D-MI) has called on the Department of Transportation’s Office of Pipeline Safety (OPS) to look into whether the company’s questionable practices extended to cutting corners on the safety and security of its pipeline operations.
Industry Assesses Damage as Enron Stock Falls Even Lower
In the continuing saga of what has been described as “one of the world’s biggest ever corporate failures,” Enron Corp.’s European arm filed for protection from its creditors Thursday, while major energy industry players rushed to reassure investors that their individual exposures to the troubles of Enron Corp. were minimal. The companies attempted to boost confidence in the energy sector as Enron stock dropped another 25 cents to close at 36 cents Thursday on trades of nearly 265 million shares.
Reliant, Mirant Affirm Earnings Despite Western Uncertainty
Reliant Energy Inc. and Mirant Corp., both caught up in the California energy saga, Tuesday reiterated their earnings forecasts for the rest of the year, indicating that despite the continuing charges, countercharges, lawsuits and falling stock prices, they will meet or beat Wall Street estimates.
Granite State Settles Dispute Over Aborted Wells LNG Project
The last chapter in the saga of the aborted 2 Bcf Wells, ME, LNGproject has been filed at FERC. A settlement agreement submittedrecently allows LNG project developer Granite State GasTransmission to recover $8.3 million in predevelopment coststhrough Northern Utilities’ ratepayers over a seven-year period.
Granite State Settles Aborted Wells LNG Project
The last chapter in the saga of the aborted 2 Bcf Wells, ME, LNGproject has been filed at FERC. A settlement agreement submittedlast week allows LNG project developer Granite State GasTransmission to recover $8.3 million in predevelopment coststhrough Northern Utilities’ ratepayers over a seven-year period.
