After more than a year of being on pause due to lawsuits from Big Green groups, the 92%-complete Mountain Valley Pipeline (MVP) finally has permission to resume construction in West Virginia and Virginia. Late Friday the Federal Energy Regulatory Commission (FERC) granted permission to MVP to restart work on all but a 25-mile segment. We suspect workers are back on the job even as you read this.
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Chesapeake Energy filed for bankruptcy in June (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership). Their case is one of the biggest bankruptcies in our industry and far from over. However, the company filed an update with the Securities and Exchange Commission on Friday that gives us at least some insight into what the company will look like after it exits bankruptcy…
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Well that’s disappointing. Earlier this year Energy Solutions Consortium (ESC) asked the State of West Virginia to guarantee a $5.5 million loan for a proposed new shale gas-fired power plant planned for Brooke County which would help them secure even more funding for the project. Several weeks ago the state went one better than the original request and said it would not only guarantee the loan, it would actually make the loan (see WV Brooke County Power Plant Gets $5.5M Direct Loan from State). And now it’s all off…
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Anti-fossil fuelers have struck out again with another of their wild claims about pipelines poisoning the environment. Antis alleged steel pipes coated with epoxy (that had to sit in storage on location for years due to sham lawsuits by Big Green groups), are not safe. The Federal Energy Regulatory Commission (FERC) says otherwise.
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Nearly a month ago sources talking to Reuters let it slip that EQT has offered $750 million for Chevron’s $6.5 billion worth of Marcellus/Utica assets (see Sources: EQT Offering $750M for Chevron’s Marcellus/Utica Assets). Since that time we’ve not heard a peep about negotiations and whether or not Chevron is seriously considering the offer. Let’s do a little speculating. What if Chevron does accept that offer? What does it mean for investors and others with a stake in the outcome?
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The ongoing, persistent meme that fossil fuels are evil and causing the destruction of the earth and threaten all life on earth is so pervasive in mainstream media that it has become a religion, an article of faith. If you dare challenge the meme by using science or rational thought, you are immediately branded a heretic, a kook, a “denier”–someone to be avoided at all costs. But what if the meme is wrong? What is fossil fuels are not the great evil they are portrayed as?
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MARCELLUS/UTICA REGION: West Virginia governor’s race marks otherwise quiet election season in Appalachia; Beaver County signs letter to Trump, Biden in support of natural gas; Erie School District to cap gas wells at Erie High, other schools as savings dwindles; Biden wins over Pennsylvania union leaders worried about his climate plan; NATIONAL: DC Circuit eyes US EPA’s power plant rule with skepticism during oral arguments; Banning fracking such a bad idea Biden/Harris now denying they said it; Court rejects Obama-era methane rule on oil, natural gas leases; U.S. election outcome will not impact bullish energy outlook: Goldman.
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