NC Republicans Hounding Dem Gov for Approving Atlantic Coast Pipe
There is a political mess brewing in North Carolina–a mess that has made for some strange bedfellows. Rabid anti-fossil fuelers are supporting Republicans in a bid to target NC’s Democrat governor because his administration granted a permit for Dominion Energy’s Atlantic Coast Pipeline (ACP) in the state. We first reported on this developing situation back in September (see Weird: NC Republicans Target Dem Gov for Supporting M-U Pipeline). The situation revolves around a special fund set up by Gov. Roy Cooper, some $57.8 million paid by Dominion, to be used for environmental reclamation projects. Republicans say it’s a slush fund and, using the power of the state legislature, they wrested control of the fund away from Cooper and gave the money away to schools. But Republicans aren’t content to let the matter rest. They now want an investigation into Cooper and the fund and how it got set up. If they’re not careful, they may end up un-approving the permit for the pipeline.
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In reading through the story we share below, we feel dirty. Like we need a shower. New York State is deeply, deeply corrupt–at the highest levels. As in Gov. Andrew Cuomo. And every now and again, that corruption spreads to otherwise good projects, like converting a small coal-fired electric plant to burn natural gas. The Greenidge Generation power station in Yates County, located along the shoreline of Seneca Lake in the beautiful Finger Lakes region of upstate NY, is one such a project caught in the web of Cuomo’s corruption. Originally built in the 1930s, the operator of the plant, Atlas Holdings, wanted to convert it from burning coal to burning natural gas. After paying $120,000 to Andrew Cuomo’s campaign for reelection and more than $500,000 in payments to lobbyists, Atlas got a “fast track” approval and certain environmental exemptions from the Cuomo Administration. It’s a worthy project and should have been approved without such payoffs, but the project couldn’t get approved otherwise. Here’s the sordid story.

In January Dominion Energy announced a deal to buy out and merge in South Carolina-based SCANA Corporation (see
We’re not going to continue to cover news about the price of natural gas each day, because the price goes up, then it goes down, then it goes back up…you get the idea. We will, however, bring you one more story today on the price of natgas, because of the ongoing wild swings in price. The fact that prices goes up and down is not mysterious and frankly, not noteworthy. What is noteworthy is the sudden and dramatic swings–called volatility in the business. Last Wednesday the NYMEX futures price for gas hit a four-year high, up 18% in a single day (see
Is the Marcellus/Utica industry giving itself a black eye with respect to post-production deductions? It’s always dangerous to paint with too broad of a brush. There are some drillers who don’t deduct post-production costs, and the landowners signed with them are happy as clams (we know some personally). But there are other drillers, perhaps under pressure by investors, perhaps from greed (as is said by those opposed to shale drilling) that are making profits on the backs of landowners. Regardless of motivation, it’s not right. The problem is, the media *does* paint with a broad brush and accuses the entire industry of behaving the same way. The following Charleston Gazette-Mail editorial is a perfect example.
The “best of the rest”–stories that caught MDN’s eye that you may be interested in reading: Natural-gas pipeline protesters take petition to C&O headquarters; Summit County approves natural gas pipeline emergency fund; U.S. shale firms offer $100 million to aid Texas, New Mexico; Natural gas price explosion bankrupts traders; Freezing temperatures could heat up natural gas prices; Pipeline paralysis: The left’s latest fossil fuel obstruction tactic; No penalties for 90% of pipeline blasts; Firm proposes new wells as New Brunswick muses about end to fracking moratorium; The oil price is now controlled by just three men; Saudi Arabia and the future of oil prices: Look to what robots will do, not what Trump tweets.