Marcellus/Utica Heading for Another Pipeline Shortage
Here in the Marcellus/Utica region (PA, OH, WV) we have a lot of natural gas production. We are the #1 gas-producing region in the United States. According to the U.S. Energy Information Administration, the M-U will produce 34 billion cubic feet per day (Bcf/d) of natgas this month (see EIA DPR: Feb. NatGas Production Drop Everywhere Except Haynesville). The thing is, we (in the M-U) can’t use all of that gas in this region, where it’s produced. We need to get it to other markets. According to RBN Energy, it’s easy to predict another coming pipeline shortage to move our gas to the other markets that need it.
Read More “Marcellus/Utica Heading for Another Pipeline Shortage”
Two of New York City’s five retirement pension funds, representing 70% of the $239.8 billion retirement system, announced yesterday they will divest their portfolios of all investments in fossil fuel companies. The two pension funds together own roughly $4 billion worth of fossil fuel securities. The divestment will take place gradually, over the next five years. A third pension fund with $7.8 billion under management is expected to do the same, soon.
One of the aims of both drillers and environmentalists is to reduce the amount of methane escaping from pipelines and well pads into the atmosphere–so called “fugitive methane.” Environmentalists make wild claims that methane molecules floating around in the atmosphere are a gajillion times more potent in causing mythical global warming. Whatever. Drillers and pipeline companies want to capture and keep captured every last molecule so they can sell it! Thing is, there is a cost beyond which it doesn’t make sense to try and capture stray methane molecules.
This is an early test for how the Biden administration, specifically Biden’s pick to run the Federal Energy Regulatory Commission (FERC), Richard “Dick” Glick, will respond to requests for additional infrastructure related to fossil fuels. Last week Venture Global filed a “pre-filing” request with FERC ultimately looking for permission to build a major new LNG export facility next door to another facility (Calcasieu Pass Project) Venture Global is currently building. The new project is dubbed CP2 and will come with a (gasp) 87.5-mile greenfield pipeline.