General Interest 2000 P

12/26/2000 -- Gas at $9 means likely curtailments, threat of government intervention
Could $9 gas mean curtailments and government intervention?
12/22/2000 -- US agency raises long-term electricity demand projection
US government forecasters Thursday raised long-term projections for electricity demand to 1.8%/year between 1999-2020, up from 1.3% for the same period in a year-ago forecast. The US Energy Information Administration (EIA) said higher demand will result from higher projected economic growth and a reevaluation of the potential for growth in electricity use in residential and commercial appliances and equipment, including personal computers.
12/22/2000 -- Northwest utility proposes novel rate plan
High wholesale electricity prices in the Pacific Northwest have caused investor-owned utilities to rethink customer rates at a time the market is plagued by short supply and spiking prices. Avista Corp. is seeking regulatory approval to recover in rates the costs of purchased power for the winter peak, and Portland General Electric Co. proposed Thursday a plan that will allow it to capture the benefits or share the losses of the volatile market with customers.
12/22/2000 -- Market watch, Dec. 22
International energy futures markets firmed Thursday as markets tried to stabilize following the dramatic plunge in prices earlier this week. On the New York Mercantile Exchange, the February contract for benchmark US light, sweet crudes was up 21� to $25.98/bbl.
12/22/2000 -- Cinergy, EPA reach agreement on clean air allegations
In the largest settlement ever under the Clean Air Act, the US Environmental Protection Agency and Cinergy Corp. have reached a $1.4 billion tentative agreement over allegations of illegal pollution from the company's coal-burning electric power plants. The settlement includes an $8.5 million fine, but most of the $1.4 billion will be spent upgrading coal plants at Cinergy's principal operating companies, the Cincinnati Gas & Electric Co. and PSI Energy Inc. The company admitted no wrongdoing.
12/22/2000 -- EPA GRANDSTANDING WITH DIESEL SULFUR RULE
"These emission reductions will prevent 8,300 premature deaths, more than 9,500 hospitalizations, and 1.5 million work days lost."
12/21/2000 -- Northwestern municipal utilities slap on surcharges
Tacoma Power and Seattle City Light, the two largest municipally owned electric utilities in the Pacific Northwest, will hike customer bills to cover costs of purchased power. The utilities added a 50% and 10% surcharge, respectively, to customer�s electric bills effective Jan. 1.The Pacific Northwest suffers from short supplies of power and spiking prices similar to California. In winter, the northwestern electric utilities generally buy power from California.
12/21/2000 -- Conoco extends field off Viet Nam
Conoco Inc. and partners have completed an 8,500-b/d stepout they said significantly extends the Rang Dong field on Block 15-2 off Viet Nam. The well tested at a rate of 8,500 b/d from one zone. The field is 120 miles southwest of Ho Chi Minh City in the Cuu Long Basin in 165 ft of water.
12/21/2000 -- EPA issues rule slashing diesel sulfur 97%
The US Environmental Protection Agency Thursday announced rules requiring cleaner burning diesel engines and a 97% reduction in the sulfur content of highway diesel fuel from 500 ppm to 15 ppm. The agency also set toxic chemical compound emissions limits for conventional and reformulated gasoline.
12/21/2000 -- California ISO invokes federal emergency order
With imports from the Pacific Northwest down to a 'trickle,' the California Independent System Operator Thursday declared concurrent Stage 1 and 2 power emergencies for northern California, and for the second day in a row invoked an emergency federal order issued by US Energy Sec. Bill Richardson. Constraints on Path 15, the high voltage transmission line carrying electricity between the north and south parts of the state, also continue to be a problem, the ISO said.
12/21/2000 -- Electric Power news briefs, December 21
Wisconsin Power & Light Co. ... AES Corp. ... Gener ... Equity Oil Co. ... Washington Gas ... SCANA Corp. ... Fayetteville Public Works Commission ... Avista Corp. ... International Power PLC ... UIL Holdings Corp. ... Enron North America ... New York Power Authority ... Energy USA Retail Inc. ... Cinergy Corp. ... Duquesne Light Co. ... Orion Power Holdings Inc. ... AES Ekibastuz ... RAO UES ... Aare-Tessin AG f�r Elektrizit�... Swiss Federal Railways
12/21/2000 -- Market watch, Dec. 21
International futures prices plummeted Wednesday with reports of increased US crude inventories and fears of an economic slowdown. The February contract for benchmark US light, sweet crudes plunged $2.31 to $25.65/bbl on the New York Mercantile Exchange. In London, North Sea Brent crude dropped $2.03 to $22.97/bbl.
12/20/2000 -- Gas supplies down 158 bcf for week AGA reports
The American Gas Association Wednesday reported natural gas supplies, for the week ended Dec. 15, fell by 158 bcf to a total of 2,113 bcf, about in line with analysts' expectations. The US winter season so far has been roughly 35% colder than the same period a year ago. With natural gas prices running at high levels and storage down, Raymond James & Associates boosted its 2001 gas price forecast to $5.75/Mcf, $1.50 higher than the consensus forecast.
12/20/2000 -- Drilling/Production news briefs, Dec. 20
Digital Gas � Dong Sheng � Centurion Energy International � UTS Energy � TrueNorth Energy LP � J. Ray McDermott
12/20/2000 -- Federal order produces 300 Mw for California ISO
Up to 300 Mw were made available to the California Independent System Operator Wednesday after the grid operator invoked a federal order Tuesday requiring generators and marketers throughout the West to sell surplus power to California. But the emergency resources were not enough to forestall a Stage 1 emergency declaration Wednesday. Kellan Fluckiger, ISO president, said he expects to call a Stage 2 emergency during peak demand today.
12/20/2000 -- ExxonMobil to challenge $3.5 billion Alabama verdict
ExxonMobil Corp. plans to challenge a $3.5 billion verdict awarded in a case that alleged Exxon defrauded Alabama of royalties on production from 10 natural gas wells in state waters in Mobile Bay. The dispute hinges on whether Exxon was allowed to deduct processing costs from royalties.
12/20/2000 -- California ISO invokes federal order to buy power
The California Independent System Operator (ISO) Wednesday issued a request for 3,000 Mw in supplemental bids and was operating under 'no touch' conditions, after invoking a federal order Tuesday requiring generators and marketers throughout the West to sell surplus power to California with 12 hours notice from the ISO. The order was issued late last week by US Energy Sec. Bill Richardson.
12/20/2000 -- Market watch, Dec. 20
International energy futures continued to waffle Tuesday as rumors of large imports of home heating oil into the US sent crude prices tumbling on the International Petroleum Exchange in London. The January contract for benchmark US light, sweet crudes dropped 43� to 29.33/bbl on the New York Mercantile Exchange.
12/19/2000 -- US Energy Sec. Richardson warns of 'liquidity crisis'
US Energy Sec. Bill Richardson Tuesday warned California utilities could be facing a 'liquidity crisis' in a meeting in Washington with federal regulators, utilities, and California electricity marketers. Electricity supplies are tight, natural gas prices are high, and wholesale electricity prices remain much higher than historic norms, Richardson explained, putting the state's utilities at risk.
12/19/2000 -- Crown Central to merge with Rosemore
Crown Central Petroleum Corp. Monday announced plans to merge with Rosemore Inc.. Rosemore will offer $10.50/share for shares of Crown it does not already own. The third largest shareholding group in Crown has agreed to vote for the merger. Previously, shareholders had voted against a merger with Rosemore.

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General Interest 2000 P