Re: Stopped anti-energy amendment!!!

Thanks to the DC team - Well Done!

Chris Long@ENRON
07/27/2000 04:34 PM

To: raislerk@sullcrom.com, Cynthia Sandherr/Corp/Enron@ENRON, Mark
Taylor/HOU/ECT@ECT, Joe Hillings/Corp/Enron@ENRON, Richard
Shapiro/HOU/EES@EES, Steven J Kean/HOU/EES@EES, Stephen D
Burns/Corp/Enron@ENRON
cc:
Subject: Stopped anti-energy amendment!!!

Today we were successful in killing an amendment that was offered by Rep.
Carolyn Maloney (D-NY) in the House Banking Committee during its markup of
the Commodities Future Modernization Act of 2000. This amendment would have
stricken language that provided an exclusion from CFTC jurisdiction for all
non-agriculture transactions (energy, metals, broadband). The amendment
failed, largely due to pressure from Enron, by a vote of 20-12. Rep. Ken
Bensten (D-TX) joined Chairman Leach in speaking against the amendment.

In more positive movement, yesterday the House Commerce Committee passed its
version on the bill including a provision that exempts metal trading
multilateral trading facilities from CFTC jurisdiction.

Congress goes into recess tomorrow and we will have a better sense on how the
Rules Committee plans to reconcile differences between the versions of the
bill later this week. The Senate is still the unknown.

Call me at any question - Chris

---------------------- Forwarded by Chris Long/Corp/Enron on 07/27/2000 05:28
PM ---------------------------

Chris Long
07/26/2000 06:32 PM

To: "Edgell, Bradley" <Bradley.Edgell@mail.house.gov<
cc: Cynthia Sandherr/Corp/Enron@ENRON, RAISLERK@sullcrom.com

Subject: RE: CEA Hearing tomorrow

Bradley:

We have learned that two amendments will be offered tomorrow my Rep. Maloney:

#1 - Strikes lines 15-25 from page 41 and the entire page 42 (these are the
sections of HR 4541 as reported out of the Ag. Committee which address the
exemption for all most non-agriculture commodities trade on an electronic
facility.

#2 - Request a comprehensive study on the President's working group, DOE,
and FERC.

We strongly oppose amendment #1 which intends to more heavily regulate the
energy derivatives industry. Please have Rep. Bentsen voice his opposition
to this amendment. My guess is that amendment #2 should and will be ruled
non-germane, however this is not a compromise we would support.

Thanks - Chris
(202) 466-9158

"Edgell, Bradley" <Bradley.Edgell@mail.house.gov< on 07/26/2000 05:31:08 PM
To: Chris.Long@enron.com
cc:

Subject: RE: CEA Hearing tomorrow

Chris, I will look this over and get back to you.

< ----------
< From: Chris.Long@enron.com[SMTP:Chris.Long@enron.com]
< Sent: Wednesday, July 26, 2000 5:21 PM
< To: Edgell, Bradley
< Cc: RAISLERK@sullcrom.com
< Subject: CEA Hearing tomorrow
<
< <<File: CFTC.gov.doc<<
< Bradley: The highlighted talking points could be used by Rep. Bentsen in
< response to an amendment focused on the energy derivative industry.
< Additional CFTC oversight is clearly not warranted, nor is a study needed.
< Call me with any questions at (202) 466-9158.
<
<
<
< (See attached file: CFTC.gov.doc)
<