PTT Says Recent Reports of Ohio Cracker Decision Delay “Not True”
Last November we brought you the news that PTT Global Chemical was changing the timeline (again) for a final investment decision (FID) to build a $10 billion ethane cracker plant in Belmont County, OH, this time to the middle of 2021 (see PTT Delays Final Cracker Decision to at Least Middle of 2021). Late last week rumors began to swirl following an article in the Bangkok Post that PTT has delayed the FID beyond mid-year. PTT was quick to respond and say that’s “just not true.”
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In January several Big Green groups, including the odious Sierra Club, asked the Democrat judges on the D.C. Circuit Court of Appeals to overturn a FERC order from last December that allows the 92% complete Mountain Valley Pipeline (MVP) to resume certain portions of construction (see 
There’s nothing like changing the rules of the game after the game is done and over. Sounds like something a petulant child would do, but in this case the petulant child is the Democrat-controlled Federal Energy Regulatory Commission (FERC) potentially rewriting rules (after the game was played) in an attempt to shut down a brand new, state-of-the-art, fully functional compressor station that’s delivering 133 MMcf/d (million cubic feet per day) of extra natural gas supply to New England and beyond. Welcome to the dystopian world of Joe Biden and Dick Glick.
Newly appointed Federal Energy Regulatory Commission (FERC) Chairman Richard “Dick” Glick continues to wreak havoc on the natural gas pipeline sector. Since he was first appointed by Donald Trump more than three years ago, Democrat Glick has voted against every new pipeline project to come before him. Now he wants to rewrite the rules so future FERC commissioners will be handcuffed, binding them to a policy that requires them to reject new pipeline projects long after Glick has exited stage left.
While the recent spike over the past week in natural gas prices was a fluke, an anomaly due to a rare snow and freezing cold event in the nation’s southwest and Midcontinent regions, the long-term price of natural gas has not moved all that much. The NYMEX futures prices for natgas month by month for the foreseeable future has stayed under or just above the $3/MMBtu mark. Yet we continue to see predictions of alarm that we’re heading for a natgas shortage and with it, a rise in gas prices.
It really is frightening how stupid some of our nation’s leaders really are. They don’t even understand basic economics 101 (they likely never took the class in college). Example: U.S. Sen. Tina Smith from Minnesota (Democrat) who wants federal regulators to investigate the recent spike in natural gas prices, which soared to record levels–into the hundreds of dollars per Mcf. Smith apparently doesn’t understand simple economics and the law of supply and demand.
MARCELLUS/UTICA REGION: Natural gas is a cornerstone for climate, economic progress; DEP awards $250,000 to Moon Township Sheetz for 4 fast-charging plugs for electric cars; OTHER U.S. REGIONS: Amid Texas freeze, oil producers still shut; governor bans natural gas exports; A dangerous narrative emerges in the wake of Texas power blackouts; NATIONAL: Rep. Haaland’s Interior Secretary confirmation hearing: 6 key questions; The merger wave in the oil patch starts heading midstream; INTERNATIONAL: Is another LNG glut looming?; US LNG exports to China may drop.