Newspaper report implicates politicians, industry insiders in attempt to manipulate renewable credits market

Michael Giberson Consumers remain wary of attempts to manipulate energy markets, but it can be hard for consumers to tell when markets are being manipulated. For example, JP Morgan has been accused of manipulating the California ISO power market, but the company denies the accusation. The markets are complicated, the regulatory filings in the complaint … More Newspaper report implicates politicians, industry insiders in attempt to manipulate renewable credits market

Oil speculator witch hunt, 2012 edition

Michael Giberson Steve Mufson at the Washington Post reports: President Obama proposed measures Tuesday to step up oversight of energy markets and boost by tenfold the penalties for market manipulation, in an effort to blunt political pressure over the 20 percent increase in gasoline prices since the beginning of the year. [Links in source.] Not that the administration has … More Oil speculator witch hunt, 2012 edition

CFTC files oil market manipulation case

Michael Giberson At Streetwise Professor, Craig Pirrong examines the CFTC’s case against alleged oil market manipulators Parnon Energy, Arcadia Petroleum LTD and Arcadia Energy (Suisse), all affiliates of the trading firm Arcadia. Whatever the ultimate merits of the case, he says the CFTC is going to have trouble making the charges stick. In part the … More CFTC files oil market manipulation case

Another comment on United States v. Keyspan Corporation

Michael Giberson “By the Justice Department’s calculations, Keyspan’s anti-competitive actions resulted in it receiving almost $49 million. The settlement submitted by the Justice Department would let Keyspan keep $37 million from its anti-competitive actions. Netting $37 million for anti-competitive conduct is not a penalty, it is not a deterrent, it is a reward.” “Anything short … More Another comment on United States v. Keyspan Corporation

The natural gas that didn’t come in from the cold

Michael Giberson Among the complications caused by the cold weather last week, short supply of natural gas throughout much of the southwest United States. Reports indicate some gas wells were freezing up and loss of electric power to gas production systems, but more of the problem was loss of power to natural gas pipelines. And, … More The natural gas that didn’t come in from the cold

United States v. KeySpan Corporation antitrust case settles for paltry $12 million

Michael Giberson The Justice Department of the United States has agreed to a $12 million settlement with KeySpan Corporation on a Sherman antitrust act claim. The allegation was that KeySpan manipulated the New York ISO capacity market price in its part of the state from May 2006 through February 2008, reaping an estimated $49 million … More United States v. KeySpan Corporation antitrust case settles for paltry $12 million