“The PFC Energy 50 demonstrates that the energy industry continues to be extremely dynamic,” said J. Robinson West, PFC Chairman. “It is a key link between the New Economy and the Old Economy. The equity markets agree since the Energy 50 substantially outperformed the S&P 500.” The total market capitalization of the 50 companies was $1.82 trillion at year-end 2000. While crude oil and North American natural gas spot prices climbed to new highs, the PFC Energy 50 rise was not driven by share price gains for the major integrated oil & gas companies, but instead by dynamic emerging energy players with new business models. Gas & power companies significantly outperformed the oil & gas companies in the Energy 50. The report can be found in its entirety at http://www.pfcenergy.com .
Jan. 16, 2001—With reserves on the razor’s edge, California braced for the possibility of rolling blackouts. But during a 2 p.m. PST briefing, officials said they are optimistic they can squeak by without instituting involuntary power interruptions.