New Ormet Aluminum Plant Owner Shops Barge Facility to Shalers
Three weeks ago MDN highlighted news from NGI’s Shale Daily that Magnum Hunter Resources had purchased the mineral rights for two former Ormet properties in Ohio and West Virginia (see Magnum Hunter Buys Ormet Property in OH/WV, More Wells Coming?). Ormet, you may recall, had a big aluminum plant in Hannibal (Monroe County), OH that sits on the Ohio River (complete with a big barge facility) that was bankrupted because they couldn’t get Ohio to lower the electricity bills long enough for them to convert their own coal-burning electric generation plant into using natural gas mined from under the property (see Final Chapter of Ormet Plant Closing – Utica Could have Saved It). It was a big fail on the part of Gov. John “foreigner hunter” Kasich’s administration and the Public Utilities Commission of Ohio (PUCO). Magnum now owns the mineral rights, and Niagara Worldwide LLC now owns the real estate and plant itself in OH. Niagara issued a press release today advertising that they’re looking to re-open the Hannibal site for business. The announcement has a big tie-in with the shale drilling industry…
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Washington & Jefferson College, located in Washington, PA (Pittsburgh suburb) has a Center for Energy Policy & Management–which makes sense since Washington County, PA sits in the middle of the wet gas Marcellus drilling zone. W&J recently teamed up with the Washington, DC-based Environmental Law Institute (ELI) to study the “boom and bust” cycle that communities face with resource extraction like the Marcellus Shale. The thought was to produce a document–in this case a series of documents–that can guide local and state politicians as they plan for the future. How can, and even *can* a community avoid a “bust” after a huge boom? That’s what the documents aim to answer. The only problem is, the ELI seems to tilt anti-drilling, and the entire study was funded by Mamma Teresa Heinz-Kerry and her Heinz Endowments–a strongly anti-drilling organization. So you know where this is headed…