June 2002

Oil Market Analyses

Two interesting stories today illustrate some very important points about how world oil markets are evolving. This Bloomberg News story describes how Russia and Norway are changing the dynamics of OPEC’s ability to restrict output to raise prices: Russia and Norway plan to end six months of output cuts and cooperation with the Organization of …

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Gao on Ferc Oversight

UPDATE: As you can see from the time stamp on this post, I was working way too late last night to remember that GAO is General Accounting Office, not Government Accounting Office. Apologies for the slip, which has been corrected below. Well … back from celebrating my birthday and my sister-in-law’s graduation with my in-law …

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Don’t Let Complex Reality Interfere With What I Want

California politicians, and others who want a clear, black-and-white, well-controlled, orderly world for electricity markets, are not going to like this. Federal Energy Regulatory Commission Pat Wood pointed out today that some wash trades might be legitimate. Electricity generators operate with pretty stringent delivery commitments because of the nature of electricity — it can’t be …

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FERC Decision on California?

According to a Dow Jones Business News report on Yahoo Financial News, the Federal Energy Regulatory Commission is meeting behind closed doors today to discuss how to proceed with enforcement in wholesale electricity markets, in California and elsewhere. Worth watching …