The Commodity Futures Trading Commission (CFTC) has begun responding to market participant’s questions about the regulations stemming from the Dodd-Frank Wall Street Reform Act, namely the start date for swap data reporting and the reporting of cleared swap transactions. Compliance with the final rule is required once the agency has responded to a question or clarified a Dodd-Frank issue, said Commissioner Bart Chilton (see Daily GPI, Oct. 10). But in the event the CFTC doesn’t answer questions by Friday, Chilton said, “it would not be appropriate, reasonable or responsible for the Commission to proceed against entities for non-compliance with a Dodd-Frank rule unless and until they have received a response from the agency to an existing request.”
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BP’s $7.8B Macondo Spill Pact Wins Initial Court OK
BP plc on Wednesday won preliminary approval for an estimated $7.8 billion settlement to resolve more than 100,000 court claims stemming from the Macondo well blowout and oil spill in the Gulf of Mexico in April 2010. The blowout destroyed the Deepwater Horizon rig servicing the well and killed 11 men.
NTSB: Deaths from Gas Pipe Blasts More than Doubled in 2010
The number of fatalities stemming from natural gas pipeline accidents in 2010 more than doubled to 21 from nine in the prior year, according to estimates released by the National Transportation Safety Board (NTSB).
Industry Brief
The number of fatalities stemming from natural gas pipeline accidents in 2010 more than doubled to 21 from nine in the prior year, according to estimates released by the National Transportation Safety Board (NTSB). Natural gas pipelines accounted for all but one of the total 22 pipeline deaths in 2010, the NTSB said. One death was attributed to hazardous liquid lines last year. In contrast the NTSB reported a total of 13 pipeline-related fatalities in 2009. The deadly natural gas pipeline accident in San Bruno, CA, which killed eight people and was investigated by the NTSB, contributed to the rise in pipeline fatalities in 2010, the board said (see Daily GPI, Sept. 17, 2010). The five fatalities from a pipeline explosion in Allentown, PA, were not included in the NTSB count since the blast occurred earlier this year (see Daily GPI, Feb. 11).
PG&E Delays Nuke Plant Relicensing
Citing public and industry concerns stemming from the disaster at Japan’s Fukushima Daiichi nuclear plant, Pacific Gas and Electric Co. (PG&E) on Monday said it will suspend a relicensing effort for its Diablo Canyon Nuclear Power Plant along the central California coast, pending the completion of updated seismic tests.
NTSB Cites Overstressed Weld as Potential Contributor to PG&E Blast
A crack stemming from an overstressed weld on the seam of the Pacific Gas and Electric (PGE) pipeline may have played a part in the deadly explosion last September in San Bruno, CA, according to a report issued by the National Transportation Safety Board.
NTSB Cites Overstressed Weld as Potential Contributor to PG&E Blast
A crack stemming from an overstressed weld on the seam of the Pacific Gas and Electric (PGE) pipeline may have played a part in the deadly explosion last September in San Bruno, CA, according to a report issued by the National Transportation Safety Board.
Criticism, Speculation Grow on PG&E Pipeline Failure
There was more distrust stemming from the Pacific Gas and Electric Co. (PG&E) gas transmission pipeline catastrophe three weeks after the tragic event, and it centered in San Jose, CA, the population and communications center of the peninsula region stretching from the Silicon Valley to the southern end of San Francisco.
Traders Debate Obama Proposal to Limit Bank’s Trading
Commodities traders are wrestling with two questions stemming from President Obama’s announcement Thursday that he would push for legislation to limit activities, including proprietary trading, of the nation’s largest banks. The questions are: No. 1, Can the president get it through Congress? and No. 2, What would be the impact on the commodities market?
Traders Debate Obama Proposal to Limit Bank’s Trading
Commodities traders are wrestling with two questions stemming from President Obama’s announcement Thursday that he would push for legislation to limit activities, including proprietary trading, of the nation’s largest banks. The questions are: No. 1, Can the president get it through Congress? and No. 2, What would be the impact on the commodities market?
