BP Gives FERC An Earful In Detailed Response to Show Cause Allegations Outlined In Staff Report on Investigation of Alleged Market Manipulation Activity Five Years Ago

摘要

BP America Inc., et al. (a joint filing with BP Corp. North America Inc., BP America Production Co., and BP Energy Co.) (IN13-15) requests that the Commission dismiss a recent Show Cause Order and terminate further investigative proceedings involving alleged market manipulation activities and, if the Commission declines to do so, without waiver of any right to seek rehearing or judicial review of such a determination, BP requests that this matter be set for a full evidentiary hearing before a Presiding Administrative Law Judge. Among other counterpoints made in a lengthy reply to the suggested improprieties, BP directly challenged Enforcement Staff’s “contrived and implausible theory of market manipulation” and claims that BP’s transportation and trading activity was undertaken to benefit “what Enforcement Staff describes as a financial swing spread position.”