I noted yesterday that the Federal Energy Regulatory Commission planned to fine Barclays Bank for its role in manipulating US energy markets. The fine came out and it was a record, a $470 million penalty. After the London market had closed, the Federal Energy Regulatory Commission announced the scale of the fine – $435m, plus [...]

Barclays Bank, the only bank to date to settle in the Libor scandal, could face more regulatory probes down the line on a number of other issues, including an energy trading scandal in the US.

One of the 16 banks sure to be implicated in the Libor rate-rigging scandal is JPMorgan Chase. Their submissions to Libor consistently fell on the low end of the scale, presumably fitting for what was thought to be a first tier bank, but we don’t know yet what those responsible at the bank for submitting [...]

The Financial Times reported yesterday that the Staff of the Federal Energy Regulatory Commission (FECR) was investigating a number of electric power marketing affiliates owned by major banks — including JP Morgan Chase, Barclays, Deutsche Bank AG, and others, on charges of manipulating electricity prices.  Immediately, reporters starting wondering whether this is like Enron’s antics [...]

Cross-Posted From Nation of Change The race is on, full-steam ahead for the United States shale gas industry [PDF] in its quest to pipe and export gas obtained via the hydraulic fracturing process to lucrative global markets. On April 16, Cheniere Energy Inc. became the first corporation in the United States to receive approval by the Federal Energy [...]