Michael Giberson A fact? An opinion? A creation? An idea? What kind of thing is a price? Perhaps too philosophical for you this morning. Try the question this way: Is the NYMEX’s report of daily futures contract prices like a phone book, like the census taker’s count of population in an area, or more like …
What is a Price? The Courts Think They Know; The Courts Are Wrong. Read More »
Lynne Kiesling Yesterday the New York Times had an interesting article on new uses for the by-products of biofuels production, particularly glycerol and lignin. Here’s the story of one entrepreneurial venture: In the foothills of the Rocky Mountains, not far from the Coors brewery in Golden, Colo., PureVision Technology is making lignin. A natural compound …
Michael Giberson Kevin Hassett thinks Congressman Devin Nunes has a good idea (also here): It’s hardly a surprise when politicians fail us. Last week, with energy policy in play, we saw disappointments galore. But the biggest surprise of the week was a bill introduced by Congressman Devin Nunes, a California Republican, that may, if enacted, …
Nunes Proposes Market Subsidy to Displace Energy Policy Read More »
Michael Giberson Tom Fowler, at the Houston Chronicle‘s NewsWatch: Energy blog, reports on the latest CFTC energy market manipulation case: The alleged manipulation occured during the so-called “Platts window,” a 30 minute interval at the end of the trading day when the energy publishing firm Platts pulls data used to set prices for other foreign …
Another CFTC Energy Market Manipulation Charge – Marathon Oil Agrees to Pay $1 Million Read More »
Michael Giberson Platts is reporting that the Maryland Public Service Commission is considering hiring an outside law firm to evaluate whether there is sufficient evidence of a lack of competitiveness in PJM’s power markets to bring a case before the Federal Energy Regulatory Commission. [Maryland PSC chairman Steven] Larsen told Platts his agency believes that …
How Competitive Are Pjm’s Markets? Maryland Wants to Know Read More »
Michael Giberson As noted here yesterday, FERC is taking action against Amaranth and its erstwhile energy trading star Brian Hunter for allegedly manipulating energy markets. FERC issued a show cause order, detailing the evidence collected and inviting Amaranth entities to explain why they should not be found in violation of Part 1c of the Commission’s …
FERC Presents Natural Gas Market Manipulation Claims Against Amaranth Read More »
Michael Giberson Earlier this week, the CFTC filed suit against Brian Hunter and Amaranth Advisors charging the company and its chief energy trader with attempted market manipulation and making false statements to the NYMEX. The CFTC has issued a press release, the complaint, and a two-page summary of the complaint. Skip the summary, all of …
CFTC Files Suit: “Defendents Intended to Create Artificial Natural Gas Prices…” Read More »
Lynne Kiesling I’m still out in Montana, attending a Foundation for Research on Economics and the Environment conference on energy for federal judges and law professors. Today I’m talking about one of my favorite topics: prices to devices! So far I’ve learned a lot, including a very interesting presentation from University of Illinois professor Bob …
Michael Giberson In a speech yesterday, Federal Reserve Bank of St. Louis President William Poole said, “The importance of recent energy developments is less than their high visibility leads many to believe.” The WSJ Real Time Economics blog further reports: “There are certainly strains from the high price of energy,” but “there is no energy …
Michael Giberson Yesterday, PJM Interconnection announced the sudden retirement of CEO Phillip Harris. In a press release, the PJM board stated: We are announcing that President Phillip G. Harris has elected to retire from PJM. We want to acknowledge Mr. Harris’ considerable contributions to PJM and our industry over his many years of service. Without …
PJM’s Newly Ex-CEO: PJM Never Really Wanted a Market Monitor Read More »
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