Deck:
The El Paso case just won't quit.<b> </b>
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Off Peak
September 15, 2001
Let's Play "Spin the Pipeline"
The El Paso case just won't quit.
It began over a year ago, on April 4, 2000. That's when California accused El Paso Natural Gas Co. of manipulating capacity rights on its natural gas pipeline by auctioning them off to its own affiliate, El Paso Merchant Energy.
It might have ended the following spring, on March 28, when the Federal Energy Regulatory Commission (FERC) said the sale was kosher. But the case took on a second wind when newspapers aired stories suggesting that company officials tried to bully the market. So FERC opened a new investigation - to see if El Paso had "gamed" the pipeline to drive up gas prices in California.
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