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A leak in a fuel pipeline facility in California forced a shutdown of deliveries of gasoline and diesel from the Los Angeles area east to areas including Las Vegas and Phoenix, but officials said Friday they believed supplies would not immediately be affected. Pipeline operator Kinder Morgan told The Associated Press the leak was discovered Thursday afternoon at a company station near Los Angeles and that its CALNEV and SFPP West pipelines were shut down while the Houston-based pipeline operator worked to resolve the issue. It did not say how much fuel leaked or when service would be restored. The...

Source article is from Carlsbad Current-Argus newspaper, a USA Today paper so title and link only authorized on Free Republic.Permian Basin natural gas pipeline could be blocked by lawsuit filed by Sierra Club

Oil executives have been making headlines recently, due to large purchases of their own company’s stock. In fact, insider buying in the oil industry is higher than any other industry, except the machinery industry. Who’s buying? Major insider purchases for the month of March were made by Kinder Morgan (NYSE: KMI) and Diamond Offshore Drilling (NYSE: DO). Diamond Offshore Drilling’s CEO, Corp Loews, purchased 685,373 shares on the open market, and Rich Kinder, CEO of Kinder Morgan, purchased 100,000 shares of Kinder Morgan. In March, Rich Kinder and Corp Loews weren’t the only executives buying company stock. The Director of...

May 14 (Reuters) - Canada unveiled new rules on Wednesday to enhance pipeline safety and spill response, ahead of the development of new projects proposed to carry crude from Alberta's oil sands to coastal ports for export. The new legislation will give Canada's energy regulator, the National Energy Board (NEB), more power to enforce compliance on safety and the authority to step in to lead spill response if a company is unwilling or unable to do so. Companies will also now be held liable, up to C$1 billion ($917 million), for all spills or incidents on their lines, whether or...

Billionaire hedge fund operator and “green” energy magnate Tom Steyer has pledged $100 million in the 2014 election cycle to help Democratic candidates who oppose the Keystone pipeline and who favor “green” energy over fossil fuels. Steyer claims to be a man of principle who has no financial interest in the causes he supports, but acts only for the public good. That is a ridiculous claim: Steyer is the ultimate rent-seeker who depends on government connections to produce subsidies and mandates that make his “green” energy investments profitable. He also is, or was until recently, a major investor in Kinder...

Democrats who oppose the Keystone XL pipeline have thousands of dollars invested in direct competitors to the company looking to build the pipeline, public records show. A recent environmental assessment by the State Department was seen as a step toward the pipeline’s approval, but Sen. Tim Kaine (D., Va.) remains opposed to its construction. “In my view, there is now enough evidence to conclude that construction of this pipeline is not in America’s long-term interest,” Kaine said in a statement on the review. The freshman Democrat has between $15,000 and $50,000 invested in Kinder Morgan Energy Partners, according to his...

Ten years to the day after Enron Corp. began its rapid fall, Rich Kinder made a move that may signal his rise to new heights. On Oct. 16, 2001, Enron – from which Kinder had resigned as president five years earlier – reported a surprise third-quarter loss. The loss marked the beginning of the end for the one-time energy giant as it began its spiral to a Dec. 2, 2001, bankruptcy filing, thousands of local layoffs, the collapse of the energy trading business and years of criminal and civil litigation. On Oct. 16 a decade later, Rich Kinder’s company, Kinder...

Democrat Jack Conway comes from a state where coal is king. He recently disclosed his financial holdings and ,shockingly, Conway is heavily invested in a company big in natural gas. That would be scandalous enough, but the story doesn't end there. The company Jack Conway has invested up to $5 million in, Kinder Morgan, is poised to make a killing if Cap-and-Trade passes. Kinder Morgan is one of the largest energy transportation, storage, and distribution companies in North America. The company also is heavily involved in the transportation, sale, and use of COâ‚‚ for enhanced oil recovery. As interest in...

When Richard Kinder left Enron in late 1996 he set out to build an empire out of the staid yet steady energy pipeline business. Nearly 10 years later he plans to take Houston-based Kinder Morgan Inc., where he is chairman and chief executive, private in a $13.5 billion transaction that could be one of the largest such buyouts in U.S. corporate history. Kinder, along with members of his management team, board of directors and a group of investment firms, wants to give Kinder Morgan Inc. shareholders $100 cash for every share, an 18.5 percent premium over KMI's $84.41 closing price...