Newsome on CFTC's Attack on Amaranth
Jim Newsome, the former CFTC chief who now heads NYMEX, seems to think the CFTC’s charges against Amaranth and Brian Hunter was a good hit indeed for the commission, despite what some market observers have suggested. He’s quick to remind us that “this isn’t exactly over” because “(CFTC enforcement chief) Greg Mocek mentioned on a couple occasions during a press conference that the ‘discovery process’ was still open.” Newsome says the CFTC “can add to the current charges when it deems necessary. It could, for example, can change it from ‘attempted manipulation’ to ‘manipulated’ or add completely new charges...”

Climate Risk Desk
More Than 150 Companies From Around the Globe “Took the Pledge” this month to adopt voluntary and publicly announced targets for emission reductions and energy efficiency improvements, agreeing as well to report annually on their progress. They included major energy-intensive industrial firms and big international labor unions, consumer advocates and other groups. The pledge took place at the UN Global Compact Leaders Summit in Geneva, an invitation-only private meeting for senior executives of 1,000 international firms, governments, unions and UN agencies. The group meets to discuss corporate social responsibility, and these days climate change is near the top of the agenda...
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Market Intel Desk
Nuclear Politics
By Diane Borska, president, the Borska Group Inc
For anyone considering plans to invest or otherwise participate in the next cycle of nuclear construction, the upcoming presidential election should be of some interest. While the Bush administration’s support of nuclear power is well-known and spelled out in the Energy Policy Act of 2005 with the promise of loan guarantees and investment tax credits, it is the next administration, which could be led by Democrats, that will actually preside over the administration and distribution of said financial incentives. By the way, the actual appropriation of funds and detailed structure of the loan guarantees and tax credits promised in EPAct have yet to be completed and an anxious industry is hoping these issues will be resolved by year’s end.