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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (86594)	2/7/2001 5:55:05 PM
From: Think4Yourself	Respond to of 95453

Anyone know the latest on this news? Looks like they might want to opt out of contracts on the grounds of default and then sell into the California spot market, at MUCH higher prices? PG&E: Western Gas, Goldman Sachs to halt Calif. natgas sales New York--Feb. 7--0932 ET--Western Gas Resources and J. Aron, the trading arm of Goldman Sachs, will cut off supplies to California when a Department of Energy order mandating sales to the state expires at midnight, Pacific Gas & Electric said. The two suppliers represent more than 10% of the natural gas used by PG&E customers. www2.marketwatch.com The utility said that if any of its gas suppliers stop delivery, the shortfall would have to be covered by whatever it has in storage. Currently, Pacific Gas & Electric has about nine days of gas in its reserves.