Spearheading

The chief of Imperial Oil Ltd., which has been spearheading an effort to build the Mackenzie Gas Project (MGP) to transport natural gas from Canada’s Arctic region, isn’t ready to throw in the towel despite the slump in prices and pressure from shale gas resources. It’s all about the long term, he said.

Selim K. Zilkha, El Paso Corp.’s largest stockholder who is spearheading an effort to unseat the company’s current board of directors, said this week he was troubled about the “severance costs” that shareholders could be burdened with if they succeed in replacing El Paso’s board, particularly the compensation to be paid to Chairman William Wise when he steps down later this year.

The San Diego attorney spearheading a high-profile class action lawsuit aimed at Dynegy and four other merchant generators selling in California’s wholesale power market Tuesday told the San Diego Union-Tribune in a news report that the state’s energy consumers would be better served by Enron Corp. going into bankruptcy rather than being rescued in a merger.