Yesterday, all eyes were on New York Gov. Andrew Cuomo and his second “State of the State” address, delivered in Albany. The popular governor has walked a tightrope on the issue of hydraulic fracturing, but after yesterday’s speech, MDN wonders if he’s fallen off that tightrope.
Since his inauguration in 2011, Gov. Cuomo has seemed to be on the side of allowing gas drilling, but then, good politicians “seem” to be on everyone’s side at one point or another. Gov. Cuomo was due to address the issue of fracking in yesterday’s speech. In fact, there’s a short 125 words dedicated to it under the subtitle of “Hydraulic Fracturing in the Southern Tier.” The interesting thing is, he left that section out when he delivered the speech—he never uttered the words. Here’s what he was going to say:
An article published today by NPR (no less) exposes the simple truth about solar energy: It just can’t compete with shale gas economically.
The article recounts the experience of a Pennsylvania family who installed 21 solar panels with government subsidies (that is, the government sliding their sticky fingers into your pockets to help pay for it). The end result? Even with taxpayer subsidies, the payback period for solar energy is 17 years—the lifetime of the system. At best it’s break-even, but in reality, it actually costs you more money than other forms of energy.
Cabot Oil & Gas finished 2011 as the S&P 500 top performer. The energy company’s stock value increased by a whopping 101% in 2011, despite falling natural gas prices. Cabot increased their dividend to shareholders by 33 percent and the company has declared a two-for-one stock split to be distributed later this month.
Cabot more than doubled natural gas production in the Marcellus Shale last year, largely due to their exceptionally productive wells in northeastern Pennsylvania, including Dimock, PA in Susquehanna County. Yesterday, Cabot released new numbers for just how productive their wells have become, passing the 600 million cubic feet (Mmcf) per day mark in combined output:
Nearly a year after an accident which happened during hydraulic fracturing of a gas well in Tioga County, PA, the State Department of Environmental Protection (DEP) has fined Talisman Energy $51,478. From a DEP press release issued yesterday:
Preferred Sands, a privately-held company headquartered in the Philadelphia suburb of Radnor, PA, has just bought out another sand company—Winn Bay Sand, located in Blair, Wisconsin—for $200 million. Preferred Sands is a frack sand and proppant company launched in 2007. It’s the largest frack sand producer in Canada, and one of the top three in the U.S.