Senators

Sen. Dianne Feinstein (D-CA) and about a half a dozen other senators plan to soon introduce a “modified” version of her amendment to re-regulate the trading of over-the-counter (OTC) energy derivatives, a spokesman for her office said Monday. This marks the second time that Feinstein’s controversial measure to the Senate omnibus energy bill (S. 517) has been revised.

Key Senate members of the Florida delegation weren’t ready to declare a full victory after the Bush administration, in a compromise gesture earlier this week, significantly scaled back plans to allow oil and natural gas drilling in the eastern Gulf of Mexico.

Responding to requests from several dozen congressmen and senators, the General Accounting Office (GAO) has launched an investigation to determine the reasons for the rise in natural gas prices over the past two years and the record high prices last winter. Although the GAO has been asked to look into supply availability, changes in demand, futures trading and the possibility of collusion or price fixing, the scope of the investigation still has not been determined, said Robert Robinson, managing director of natural resources and environment at the GAO.

Responding to requests from several dozen congressmen and senators, the General Accounting Office (GAO) has launched an investigation to determine the reasons for the rise in natural gas prices over the past two years and the record high prices last winter. Although the GAO has been asked to look into supply availability, changes in demand, futures trading and the possibility of collusion or price fixing, the scope of the investigation still has not been determined, said Robert Robinson, managing director of natural resources and environment at the GAO.

If projections that overall demand for oil, natural gas and electricity will jump by 21% over the next decade are on target, U.S. energy prices could come close to tripling in just 10 years based on current supply levels, according to an analysis issued recently by Sens. Charles E. Schumer (D-NY) and Susan Collins (R-ME).

If projections that overall demand for oil, natural gas and electricity will jump by 21% over the next decade are on target, U.S. energy prices could come close to tripling in just 10 years based on current supply levels, according to an analysis issued last week by Sens. Charles E. Schumer (D-NY) and Susan Collins (R-ME).

Sens. Dianne Feinstein (D-CA) and Gordon Smith (R-OR) introduced last week the first bipartisan legislation aimed at restoring price stability and reliability in the western electricity and natural gas markets.

Sens. Dianne Feinstein (D-CA) and Gordon Smith (R-OR) will formally introduce today the first bipartisan legislation aimed at restoring price stability and reliability in the western electricity and natural gas markets.

Blasting two U.S. senators’ plans to set up an energy commissionto investigate recent high natural gas and oil prices, North DakotaGov. Ed Schafer said last week the proposal would result in nothingbut finger pointing, and he asserted that there is no “quick fix”to the nation’s energy problems.