Vows

Refusing to go down without a fight, Salt Lake City-based Questar Corp. said Sunday that it would pursue available legal and regulatory alternatives in response to a Utah Supreme Court decision on Aug. 1, which rejected the recovery of certain natural gas-processing costs incurred by its retail natural gas distribution subsidiary Questar Gas Co.

Within hours of the Senate voting out Democrat-crafted broad energy legislation late Thursday, Republican leaders vowed to make significant changes to tailor the bill to fit their views on energy issues, while Democrats warned they may filibuster a bill that emerges from conference committee radically altered.

Senate Majority Leader Bill Frist (R-TN) urged key Democrats last Thursday to reconsider their objection to filing energy bill amendments by July 23 so that the Senate can complete the long-awaited legislation during the final week before the August recess.

Senate Majority Leader Bill Frist (R-TN) urged key Democrats Thursday to reconsider their objection to filing energy bill amendments by July 23 so that the Senate can complete the long-awaited legislation during the last week before August recess.

Citing “bad market psychology” and a restructuring charge as the chief culprits, energy trading leader Mirant reported last week a net loss of $151 million, or minus 38 cents per diluted share, for the second quarter against a profit of $145 million, or 36 cents a share, for the comparable period a year ago.

If the ongoing investigation by the Securities and Exchange Commission (SEC) uncovers irregularities by the once-mighty and now-bankrupt Enron Corp., the lead accountant for the agency assured House lawmakers Wednesday that it will deal “swiftly and completely with any wrongdoers.”

Senate Majority Leader Tom Daschle (D-SD) said Tuesday that Senate action on energy legislation is not going to happen this year, but Sen. Frank Murkowski (R-AK) remains undeterred.

Although opening up the coastal region of the Arctic National Wildlife Refuge (ANWR) to exploration is high on his list of things he would like to see accomplished, President Bush said last week that if Congress should fail to pass legislation to allow drilling in the Alaska region it will only toughen his resolve to lift restrictions on unprotected federal lands to drill for natural gas and oil.

Although opening up the coastal region of the Arctic NationalWildlife Refuge (ANWR) to exploration is high on his list of thingsto do, President Bush said yesterday that if Congress should failto pass legislation to allow drilling in the Alaska region it willonly toughen his resolve to lift restrictions on other federallands for producers.