You win some, you lose some. ;')Refinery burning all day long in Portugal; 32 firemen injured so far
http://www.portugaldiario.iol.pt/noticias/noticia.php?id=371051&art_id=371000 ^ | 04/07/31
Posted on 07/31/2004 3:49:30 PM PDT by Truth666
The fire started at Leixões, the oil terminal that supplies northern Portugal, after explosions heard at 2:PM, GMT. It has been burning out of control since then. Great danger that the underground pipelines will explode. Not getting coverage by international media.
County sues Sempra Energy, others over natural gas prices
North County Times ^ | July 29, 2004 | Staff and wire reports
Posted on 07/31/2004 3:47:43 PM PDT by snopercod
SAN DIEGO ---- The county of San Diego has filed a lawsuit against the country's major providers of natural gas, accusing the companies of conspiring to boost profits by fraudulently manipulating gas prices and gouging California consumers.
The lawsuit accuses San Diego-based Sempra Energy and other companies of artificially inflating the price of natural gas during California's energy crisis. Sempra owns Southern California Gas Co., which serves the Southwest Riverside County area, as well as San Diego Gas & Electric Co.
Jennifer Andrews, a Sempra Energy spokeswoman, said the allegations are false and the lawsuit has no merit.
"Sempra and its subsidiaries did not cause the energy crisis," Andrews said.
The lawsuit alleges company traders used deceptive practices from late 1999 through 2001 to create the illusion of high demand and bogus shortages, sending gas prices up sixfold.
San Diego is the third California county to sue the natural gas companies. Santa Clara and San Francisco filed separate, but similar lawsuits earlier this month in Superior Court in San Diego that seek unspecified damages and a return of all ill-gotten gains.
In addition to Sempra and its subsidiaries, the lawsuit names six groups of companies: Houston-based Dynegy Inc.; Encana of Calgary, Alberta; Aquila Inc. of Kansas City, Mo.; Houston-based Reliant Energy Inc.; CMS Energy Corp. of Jackson, Mich.; and Houston-based Coral Energy Resources Inc.
The county filed its lawsuit in San Diego Superior Court on the same day the Federal Energy Regulatory Commission announced settlements with Sempra Energy and four other energy traders in connection with California's electricity crisis four years ago.
The commission approved settlements totaling $18 million, including $7.2 million from Sempra Energy Traders. The settlements bring to more than $21 million the sum of corporate profits returned because of market gaming during the California electricity crisis.
But natural gas prices are in a long term uptrend over the past 20 years. Take a look at the chart here