GreenHunter Changes Strategy with USCG re Wastewater Barging
GreenHunter Resources, the fresh water and wastewater subsidiary of driller Magnum Hunter Resources, has changed strategies and has backed off their tough talk in dealing with the U.S. Coast Guard (USCG) with respect to barging brine down the Ohio River. You may recall MDN was the first to decipher just what was going on between GreenHunter and the USCG with respect to GreenHunter’s intention on barging (see GreenHunter/Coast Guard War of Words — MDN Explains It). The USCG is being manipulated by the Obama administration into blocking a request for GreenHunter to begin barging of wastewater (brine, actually). GreenHunter informed the USCG they have the legal right to do it under an existing 1987 rule that allows for it. The USCG has said not so fast, brine from shale wells may contain more radioactivity than brine from conventionally drilled oil and gas wells. In so many words, GreenHunter told the USCG they would move forward, daring the USCG to stop them (see GreenHunter to Coast Guard, We’re Barging While You Fiddle Around). As recently as May, GreenHunter claimed barging would begin soon (see GreenHunter Says OH River Wastewater Barging to Begin September). However, in an analyst conference call on Friday reviewing second quarter 2015 results, both parent company CEO Gary Evans and GreenHunter COO Kirk Trosclair changed their tune. Now GreenHunter is talking with the USCG again and attempting to convince them to let barging operations begin. You can hear the frustration both in GreenHunter’s comments, and in the comments by investors probing them on the topic…
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Let’s talk about optics and the strategies employed by fossil fuel haters. We’ll leave aside our standard argument that people who hate fossil fuels, like natural gas, are wildly hypocritical as their very existence is a direct result of the benefits of fossil fuels. Today we focus on two men who hit life’s lottery–one (younger) became a pediatrician, the other (older) a physics professor. Last week the two chained themselves to the entrance of Spectra Energy’s Burrillville, Rhode Island compressor station to call attention to Spectra’s Algonquin Incremental Market (AIM) project to beef up the compressor station and add pipelines to bring more cheap, abundant, clean-burning Marcellus Shale natural gas to gas-starved Rhode Island and other New England states. The two protesters belong to a fossil fuel hate group called FANG–Fighting Against Natural Gas. Using PVC pipe, chicken wire and (yes) tar, they intertwined their arms to make it extremely difficult to un-knot them. The police had to cut away a section of the fence and cart the fence and the two protesters to the hospital where doctors and nurses had to waste time untangling the mess. The optics, of course, is that FANG wants you to hear about a doctor and a physics professor (supposedly smart people) who put themselves in harm’s way to protest something–so the something must be evil and rotten since these two virtuous “high value” (and smarter than the rest of us) members of society are sounding the alarm. We think you should focus on different optics–the logo/mascot FANG uses on their website (pictured here, taken from their website). A wolf bearing its fangs indicates extreme danger–and a willingness to go to extremes to cause property, and perhaps even bodily, damage. Homeland Security should take note…