Chairman Joe Barton (R-TX) was expected to send out a “discussion draft” of his widely anticipated emergency legislation for California to members of the House Energy and Air Quality Subcommittee late yesterday, which means that it’s “still very open to change,” said Barton press aide Samantha Jordan. While “it’s more likely than not” that Barton will introduce a bill to aid California, “it’s not definite.” If he decides in favor of legislation, she said he will probably come out with it in late April after the congressional recess. Barton would then hold one hearing on the bill and move quickly to mark-up. Barton also is hoping to unveil omnibus energy legislation in the House by late May or early June, Jordan noted, and forward it to the White House by early fall.
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SoCalGas Set Send-Out Record in 2000
Indicative of the demands placed on California’s aging fleet ofin-state natural gas-fired electricity generating plants in thelast half of 2000, Sempra Energy’s Southern California Gas Co.utility established its all-time sendout record of 1.142 Tcf,eclipsing the previous record year (1991) by almost 100 Bcf.
SoCalGas Set Send-Out Record in 2000
Indicative of the demands placed on California’s aging fleet ofin-state natural gas-fired electricity generating plants in thelast half of 2000, Sempra Energy’s Southern California Gas Co.utility established its all-time sendout record of 1.142 Tcf,eclipsing the previous record year (1991) by almost 100 Bcf.
Mid-Sized Domestic E&Ps Lead the Pack in 2000
During a year that saw fears of natural gas shortages sendprices through the roof, spurring E&P companies into frenzieddrilling, energy company shares reached a median total return of48% in 2000, according to a new report by John S. Herold, Inc., aConnecticut-based independent energy research consulting firm.
Mid-Size E&Ps Lead the Pack in 2000
During a year that saw fears of natural gas shortages sendprices through the roof, spurring E&P companies into frenzieddrilling, energy company shares reached a median total return of48% in 2000, according to a new report by John S. Herold, Inc., aConnecticut-based independent energy research consulting firm.
Alliance Pipeline Delay Extended
In a move that is likely to send ripples through the market, particularly around Chicago, the 1.325 Bcf/d Alliance Pipeline extended its commercial in-service delay last week to Nov. 13 from Oct. 30. Pipeline officials said moisture and debris in the line caused the delay.
Alliance Deliveries Delayed until Nov. 13
In a move that is likely to send ripples through the market,particularly around Chicago, the 1.325 Bcf/d Alliance Pipelineextended its commercial in-service delay last week to Nov. 13 fromOct. 30. Pipeline officials said moisture and debris in the linecaused the delay.
High Prices, Production Send PanCanadian Soaring
High prices and increased production led to a blockbuster thirdquarter for PanCanadian Petroleum. The company’s cash flow morethan doubled to $654 million, or $2.59 per share, up from $303million, or $1.21 per share, during the same period last year. Netincome increased 194% to $297 million, or $1.17 per share comparedto $101 million, or $0.40 per share.
Storm Fears Help Send Futures, Most Cash Points Higher
Slightly cooler temperatures in many major eastern marketregions dropped cooling demand a few notches yesterday, but alleyes quickly turned to the northwestern Caribbean Sea whereTropical Depression 11 appeared poised for a weekend visit to theGulf of Mexico.
CA Power Price Spikes Send Jolt to Regulators
On reflection, the most surprising aspect of the past two monthsof California’s roller coaster electricity prices is that thepeople who pieced together the state’s power deregulation plans —state legislators and regulators — are voicing the loudestconcern about the first real dose of free-market price volatilityfelt by retail mass consumers, who, it might be added, are alsovoters. In a free market, heavy demand butting heads withconstrained supplies will result in the blood of high pricessplattering everyone.
