Court Victory for Atlantic Coast Pipe Against Nelson County, VA

The 600-mile Dominion Energy Atlantic Coast Pipeline (ACP) project has completed about 35 miles of the project and that’s it. Why? Lawsuits, brought by Big Green groups. The biggest challenge the project faces is a lawsuit that ruled ACP could not cross under the Appalachian Trail. Dominion appealed the decision to the U.S. Supreme Court where it now sits. By all accounts, the recent oral arguments before the Supremes went well for ACP (see Atlantic Coast Pipeline had Very Good Day in US Supreme Court). Although the Supreme Court case is the biggest obstacle, there are other, smaller cases ACP still must overcome.
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Antis Push Back Against PennEast Pipe Plan to Build in 2 Phases

In January PennEast Pipeline, a $1.2 billion new greenfield pipeline project from Luzerne County, PA to Mercer County, NJ, asked the Federal Energy Regulatory Commission (FERC) for permission to break the project into two phases (see PennEast Asks FERC to Break Pipeline Project into 2 Phases). The pipeline wants to build Phase One in Pennsylvania, and later on (after lawsuits are finished), build Phase Two in New Jersey. Of course, antis are flooding FERC with objections to the plan hoping to keep the project from ever getting built.
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Susquehanna County Judge Sanctions Defendants in Cabot Lawsuit

Last week MDN brought you news (from the Associated Press) that Cabot Oil & Gas had “abandoned” negotiations to settle a lawsuit they brought against attorneys who had sued Cabot for something already settled in a previous lawsuit (see Cabot Ends Lawsuit Settlement Talks, Prefers Trial in Dimock Case). What we have today is “the rest of the story,” as Paul Harvey used to say. Last week we told you we only had a single AP article, and that AP is known for its biased reporting when it comes to Cabot. And indeed, our words were prophetic. We now have the full story of why Cabot pulled out of settlement negotiations.
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Former OH Gov. John Kasich Goes Hard Left, Anti-Fossil Fuel

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We were never impressed with John Kasich when he was governor of Ohio, nor when he ran for president. We’re even less impressed now. Kasich calls himself a Republican. We call him a RINO (Republican in Name Only), at best. He’s more of a Democrat-lite kind of person. And he proved it last weekend when he appeared on stage with former California Gov. Arnold Schwarzenegger (also a RINO/lefty) and radicalized former Sec. of State John F. Kerry. They were speaking at a town-hall-style meeting Sunday at Otterbein University (in Ohio), there to push a partisan, hard-left organization called World War Zero.
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Board Members, Management Snap Up Shares in Shale Companies

We always take it as a good sign when board members and upper management decide to buy up shares of the companies they operate. One might colloquially say they “eat their own dog food.” That’s what’s happening with at least some shale oil companies. Board members and upper management are buying shares of company stock because those shares are currently at super low prices, given the Saudi-Russia oil war and COVID-19 coronavirus pandemic scare. These people know that sooner or later the economy will straighten out and their company’s share prices will zoom skyward again–making them wealthy.
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NatGas Trader Predicts Max Upside is $2.20/Mcf Foreseeable Future

The price of natural gas in various locations, including the NYMEX futures price, has been inching up over the past few days. Yesterday the NYMEX price closed down slightly, at $1.88/Mcf. But that’s better than the $1.60 territory where it’s been bumping around. The price is inching up because of the Saudi-Russian oil price war. Most traders figure there will be less shale oil drilling in the U.S., and because of it, less associated natural gas production from places like the Permian (and Bakken). Which in turn means less supply, driving up prices for natgas. How long will prices go up? And, how high will the price go? We spotted one trader’s take on where he believes prices are heading.
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Chuck Schumer & Democrats Prefer U.S. Shale Companies Go Bankrupt

U.S. Sen. Chuck Schumer and other liberal Democrats don’t give a fig about the American shale industry. Yesterday there was talk about President Trump and his administration offering low-interest loans to shale oil companies to keep them afloat during this Saudi-Russian oil price war (see Fed Bailout or No Bailout for Shale Companies? Depends Who You Ask). Schumer called such a plan paying attention to “special interests” instead of “the people.” Does he not get it? If our shale drilling industry implodes, it takes with it millions of jobs and billions of economic activity. That’s real people and real money, Chuck.
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Shale Energy Stories of Interest: Thu, Mar 12, 2020

MARCELLUS/UTICA REGION: Gov. Cuomo’s big promise to free the state fairgrounds of fossil fuels: What’s the status?; NATIONAL: EIA’s 50% Carbon-Free Generation side case projects little effect on CO2 emissions; U.S. LNG exports grow in a weakening, highly uncertain market; INTERNATIONAL: Prolonged oil price slide factoring more into global natural gas market, analysts say; Saudi oil price war unlikely to have quick end, says GlobalData; Portugal books US, Nigerian LNG cargoes; UAE joins battle with Saudi Arabia and Russia to grab bigger share of oil market.
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