EQT CEO Toby Rice Joins “Bipartisan” Policy Center’s Energy Council
As you can probably divine from our headline, we’re not fans of the so-called “Bipartisan” Policy Center–a group founded by leftist Democrats and RINOs (Republicans in Name Only), which is how mainstream/Democrat media defines bipartisanship. As near as we can determine, the BPC is devoid of anyone who calls him or herself a conservative. But, whatever. The big news is that Toby Rice, CEO of EQT Corporation, has joined the BPC’s American Energy Innovation Council (AEIC) where his expertise will be used “to assist in accelerating the mission toward a clean energy economy.” Good luck Toby.
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Epsilon Energy concentrates most of its effort on the Marcellus in Susquehanna County, PA. Epsilon doesn’t typically do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy, and the other company typically does the drilling. Just yesterday our headline story was about Epsilon suing Chesapeake over Chessy’s refusal to honor a jv agreement and allow Epsilon to drill four wells in Susquehanna County, PA (see 
According to S&P Global Platts, natural gas production from the Marcellus/Utica in 1Q21 is up nearly 1 billion cubic feet per day (Bcf/d), now averaging 33.2 Bcf/d. That’s an increase of 2.8% compared with 1Q20. The problem is the interstate transmission pipelines flowing M-U gas are nearly full and the increase in production means we are beginning to see too much natgas piling up, leading to lower spot prices here in the northeast. However, not all sub-regions in the M-U are seeing an uptick in production.
Republican U.S. Senators (at least a few) have noticed the alarming situation at the Federal Energy Regulatory Commission (FERC) under new Chairman Richard “Dick” Glick. Senate Energy and Natural Resources Committee Ranking Member Sen. John Barrasso is questioning FERC over its recent decision to reconsider whether or not the Weymouth, Mass. compressor station should have been approved. That’s after the station has been up and running with no problems. It is not right for a new administration to reopen an already-approved (under a different administration) project and threaten to cancel it. It’s not fair nor right in anybody’s book. It’s lawless. Sen. Barrasso tells FERC it has some splainin’ to do. 
In February Chesapeake Energy finally emerged from Chapter 11 bankruptcy shedding $7.8 billion worth of debt (see 
Joe Biden visited Pittsburgh yesterday to make a major policy announcement. Fortunately, he was lucid enough to actually know which city he was in! Biden unveiled a $2 trillion “American Jobs Plan” which raises corporate and individual tax income rates. It is half of his total package (another plan with another $2 trillion is coming in a few weeks). The Jobs Plan is supposed to be a plan to rebuild roads and bridges and other infrastructure. The Jobs Plan is misnamed. Much of the money has nothing to do with infrastructure and jobs. Instead, it’s the Green New Deal under another name, targeting the elimination of fossil energy in the name of saving the planet.
MARCELLUS/UTICA REGION: Allegheny County Councilor Hallam introduces bill to ban fracking in most county parks; Rep. Conor Lamb talks goals to reduce methane emissions from natural gas infrastructure; OTHER U.S. REGIONS: Texas upstream sector added 2,300 jobs in February, one year after industry ‘bloodbath’; NATIONAL: No U.S. LNG export FIDs predicted in 2021, says Wood Mackenzie; The future of U.S. LNG hangs in the balance; Methane-pyrolysis process leverages natural gas for CO2-free H2 generation; The natural gas flame continues to burn bright; Drill, baby, drill hasn’t died in the U.S. shale patch; INTERNATIONAL: US Energy Sec. Granholm calls Saudi energy minister ahead of OPEC meeting; Drilling activity is set for two consecutive years of growth but will lag pre-pandemic levels.