For Investors Only; Energy Is Doing Quite Well Right Now; Oil Up Slightly

Energy Select Sector edges above last week's peak at 94.24 to set new multi-year high of 94.41: Oil Service OIH is also providing early leadership with its reaching 52.53 this morning.  Its multi-year high from last week is at 52.76. 

Reporting today:

• Cheniere Energy (LNG): -0.27; time not supplied; not reported
• Plum Creek Timber (PCL): beats by 2 cents; investors happy

Seven companies announced increased dividends/distributions.

Trading at 52-week highs today: AAPL, AEP, BRK.B, COP, ERF, MDU, OKE, SLB, SRE, XOM.

EPD, ENB, and CVX also traded nicely.

El Paso Electric: EPA air permit issued to EE to build Montana power station becomes effective: The EPA previously issued greenhouse gas (GHG) permit for El Paso Electric's four-unit natural gas burning Montana Power Station became effective on April 25, 2014 when no appeals were filed prior to the expiration of the appeals period.

EPE may now commence construction of the first two units, which it expects to bring online by the summer peak of 2015. The issuance of the EPA permit allows EPE to stay on track to effectively meet the growing needs of the communities it serves. EPA's permit action follows the Texas Commission on Environmental Quality's decision in January 2014 to issue a separate permit for emissions other than GHG. 

El Paso Electric is pleased to announce its next investment to prepare for the region’s economic growth and to meet our customers’ growing demands for electricity in west Texas and southern New Mexico. The investment is a new power station located in east El Paso. The plant will be located adjacent to Montana Avenue, just east of Zaragoza Avenue.

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