LONDON, Nov 8 (Reuters) – The U.S. Commodity Futures Trading
Commission (CFTC) is making another attempt to impose position
limits on 28 core futures contracts covering agricultural
products, energy and metals, after a U.S. court vacated its
first attempt due to procedural errors.
The court ordered the commission to use its “experience and
expertise” to resolve perceived ambiguities in the law on
position limits. The CFTC is now trying to do just that with a
much lengthier and more detailed notice of proposed rulemaking
justifying its decision, running to no fewer than 459 pages.
LONDON (Reuters) – The recently completed retail market review is the last chance to deal with concerns about the poor functioning of gas and electricity markets without fundamental institutional or structural reform, Britain’s regulator, Ofgem, has warned.
There is a “very short window of opportunity to make the market work well”, Ofgem’s interim chief executive told a conference in London on Tuesday.
LONDON, Nov 6 (Reuters) – The U.S. Commodity Futures Trading
Commission (CFTC) is in for its biggest shake up since the
financial crisis as two of its most experienced members and
strongest proponents of tougher regulation prepare to step down.
Bart Chilton, the longest serving member who has been a
commissioner since 2007, revealed on Tuesday he had notified the
president of his intention to leave in the near future.
LONDON, Nov 6 (Reuters) – The recently completed retail
market review is the last chance to deal with concerns about the
poor functioning of gas and electricity markets without
fundamental institutional or structural reform, Britain’s
regulator, Ofgem, has warned.
There is a “very short window of opportunity to make the
market work well”, Ofgem’s interim chief executive told a
conference in London on Tuesday.
LONDON, Nov 4 (Reuters) – In the decade to 2013, shale gas
and oil transformed the U.S. and global energy markets. The next
revolutionary development over the decade to 2023 is likely to
be the widespread use of gas as a transport fuel, starting in
the United States.
Freight trucks powered by liquefied natural gas (LNG) rather
than diesel could become a common sight on the U.S. interstate
highway system under plans being developed and financed by Royal
LONDON, Nov 1 (Reuters) – Warren Buffett’s Burlington
Northern-Santa Fe (BNSF) railroad captured headlines earlier
this year when it announced it would start trialling trains
powered by liquefied natural gas (LNG).
But even a pilot programme is still some way off. BNSF must
still convince U.S. rail regulators trains powered by highly
combustible natural gas can be operated safely.
LONDON, Oct 30 (Reuters) – California’s lawmakers have
ensured the state will remain a major oil and gas producer by
approving new legislation allowing hydraulic fracturing and acid
treatments to rejuvenate its ageing wells in exchange for strict
controls and tougher enforcement.
Senate Bill No 4 (SB 4), which Governor Jerry Brown signed
into law on Sept. 20, directs the state Department of
Conservation and other agencies to adopt new rules and
regulations covering well construction, fracturing and other
well stimulation treatments by the start of 2015.
LONDON, Oct 29 (Reuters) – Britain’s gas and electricity
retailers will have to be much more transparent about how they
buy wholesale supplies on behalf of their customers if they are
to defuse the political storm that has erupted over energy bills
and restore trust among bill-payers.
In a thoughtful editorial published on Monday, the Financial
Times, which has fiercely criticised demands by the opposition
Labour Party for a temporary price freeze, made a strong call
for perestroika (reconstruction) in the energy market (“Reform
trading rules and re-evaluate green subsidies” Oct 27).
LONDON, Oct 28 (Reuters) – “Grangemouth now has a great
future,” its operator Ineos said on Friday, a remarkable
turnaround from a week earlier, when the company described
Scotland’s sole refinery as financially distressed.
But Grangemouth’s reprieve will still leave all seven of
Britain’s oil refineries under intense pressure in the coming
LONDON (Reuters) – There is probably no long-term commercial future for the oil refinery and associated petrochemicals plant at Grangemouth in Scotland even if the current owners, Ineos and PetroChina, can resolve their dispute with workers and the labor union.
Excess capacity in the refining industry, especially in Europe, and the shale revolution in North America will continue to pressurize Grangemouth and Britain’s other oil refineries.