Yesterday, as expected, the heavily Democrat New York State Assembly passed a bill (103 to 40) that would ban fracking in the state for yet another two years—even though fracking has already been banned for nearly five years (a copy of the bill as passed is embedded below). We’re not quite sure what another two years will tell us we don’t already know after five—but that’s Democrat jihadists for you. Harsh word there—jihad—but it was aptly used on the floor of the Assembly by a Republican assemblyman to describe what’s really going on in New York—and we concur.
The Assembly’s action yesterday is not about “one more health study” to triply ensure nothing bad will happen to New York residents. It is about a “an intellectual and political jihad against natural fuels.” Fortunately, it’s unlikely the bill will pass in the NY Senate…
A changing of the guard continues at Chesapeake Energy. Today the company announced one of its board members, V. Burns Hargis, is stepping down and will be replaced by Louis A. Raspino. Hargis headed up the internal audit committee that looked into whether or not CEO Aubrey McClendon’s personal financial deals had compromised the company. Hargis and the audit committee concluded nothing improper was done. The Securities & Exchange Commission, however, has transitioned from “a probe” into McClendon’s dealings into “an investigation.”
We suspect Chesapeake’s second largest outside investor, Carl Icahn (a corporate raider looking to flip his investment in the company into big money), also had something to do with Hargis’ departure. Icahn voted against Hargis at the last board election in June 2012. Hargis tendered his resignation immediately following the vote but the board refused it at that time. This time they accepted it.
Pop quiz: Which northeastern state has used hydraulic fracturing (“fracking”) in vertical oil and gas wells since the 1950s? Which northeastern state has used horizontal drilling for oil and gas wells since the 1980s? Which state (so far) has refused to allow the combination of the two—fracking + horizontal drilling? The answer to all three questions: New York.
What’s that? You didn’t know fracking (in vertical wells) has been going on in NY since the 1950s? Welcome to the club. Most people either don’t know it, or upon reading it in a publication like MDN, refuse to believe it. If you don’t believe us, just ask the state DEC for confirmation.
A Washington County, PA manufacturer of parts used in drilling oil and gas wells is highlighted in an article in today’s Pittsburgh Post-Gazette. It’s an interesting story that focuses mostly on two sisters who have taken over and successfully expanded the family business. We enjoy these kinds of “human interest” stories. However, buried deep down in the story is a short section that reveals two things the sisters did that may benefit other businesses in the Marcellus and Utica Shale supply chain.
If you work for or own a business interested in selling to the drilling industry—especially to the larger companies—you’ll be interested in these two “keys to success” for Washington Rotating Control Heads Inc.:
The Southwest Coshocton and Muskingum County Landowner’s Association in southeastern Ohio met last night in Dresden, OH to hear from experts and lawyers about progress with a lease for association members.
The group is still actively seeking new landowners to join…
About 70 hippie protesters, led by the extremist group Delaware Riverkeeper, “packed” a dinky meeting room in Trenton, NJ where the Delaware River Basin Commission (DRBC) held their regular meeting. The protesters were there to express their desire the DRBC put the breaks on any further natural gas pipelines to carry much-needed gas to New York City, Philadelphia and other East Coast urban areas where the DRBC has jurisdiction.
What seemed to escape the reasoning power of the protesters is that the DRBC has no jurisdiction in approving pipelines—and only a very limited role in the process. The protesters behaved badly at the meeting, as they usually do. They “took over” the meeting and refused to be orderly and wait their turn to speak, disrupting the meeting with their petulant, white-liberal-spoiled-rich-kid tantrums of “mommy listen to me!” If only their parents had raised them right…
Good news in the state of Maryland, a state (like New York) considering legislation to delay or outright ban hydraulic fracturing (fracking). Each year the Maryland legislature meets for just 90 days to consider new legislation. During the current session now under way, a bill was introduced in the Senate that would outright ban the miracle of hydraulic fracturing. That bill has, thankfully, died in committee.
However, a moratorium (temporary ban) bill in the General Assembly is still very much alive…