Gas pipeline safety laws continue to swirl around in the current session of the California state legislature, with several bills still active, although at least a couple of proposals were declared dead in committee earlier in May. A new bill (AB 478) in the lower house Assembly was introduced Tuesday to redirect fines paid by natural gas utilities to help pay for pipeline upgrades mandated in the wake of the San Bruno, CA, pipeline rupture and explosion nearly two years ago.
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Stockholder Lawsuits Multiply Over Constellation Deal
More questions than answers continued to swirl around the messy acquisition of Constellation Energy Group as shareholder lawsuits mounted over the board of directors’ choice of suitors. The company’s board chose MidAmerican Energy Holdings’ $4.7 billion ($26.50/share) offer and has spurned EDF International’s (EDFI) $6.2 billion ($35/share) offer.
September 26, 2008
Despite Amaranth Fallout, Trading Platforms Give All-Clear Sign
As reports and rumors continue to swirl surrounding news of Amaranth Advisors LLC’s significant losses last week, calls for better regulation continue to come in while trading exchanges attempt to assure the public that they were not adversely impacted. The Greenwich, CT-based hedge fund revealed last week that bad bets in natural gas futures have cost the company about 65% of its $9.5 billion asset value (see Daily GPI, Sept. 22; Sept. 25).
September 26, 2006
Lack of Manpower Could Put Energy Security at Risk
As questions regarding domestic supply adequacy continue to swirl around the marketplace, new questions about a lack of manpower in the sector are beginning to be asked. Called upon by Congress to help lead the way in addressing the issue, North Dakota Gov. John Hoeven said a lack of manpower within the oil and gas industry is jeopardizing the country’s energy security.
July 12, 2004
IPAA, ESAI Call Domestic E&P Situation ‘Disturbing’
With questions continuing to swirl around the sustainability of domestic natural gas production, the list of solutions for appeasing the U.S.’s growing gas appetite can be narrowed to either increasing liquefied natural gas (LNG) imports or opening up drilling on gas-rich federally restricted lands.
March 8, 2004
‘Bullish’ Storage Halts Bears in Their Tracks
Amid a swirl of pre-AGA storage speculation, the futures marketcontinued lower Wednesday, touching its lowest level so far thismonth. After a lower opening, the July contract quickly mapped outits high trade of the day at $2.36, before slipping 4 cents tofinish at $2.327. Estimated volume of 65,584 injected some lifeinto the market, following sub-45,000 trading sessions Monday andTuesday.
June 17, 1999
‘Surprising’ Bounce Leaves Futures Nearly Unchanged
As many traders predicted, the futures market continued lowerThursday morning amid a swirl of bearish fundamental factors, whichwere freshly updated Wednesday evening. But the dip wasshort-lived, and afternoon buying bid the spot January contractback up to test resistance, before settling at $1.84, off 0.7 centsfor the day.
December 11, 1998
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