Fed Court Overturns Marcellus to St. Louis Pipe – Shutdown Coming?
Three far-left Democrat judges on the U.S. Court of Appeals for the D.C. Circuit have attacked the Marcellus/Utica by overturning a Federal Energy Regulatory Commission (FERC) approval for a long-completed and flowing natural gas pipeline in the St. Louis, MO area–a pipeline that flows M-U gas to residents, businesses, and electric generating plants in the region. The Spire STL pipeline now faces closure. It is a gross miscarriage of justice.
Read More “Fed Court Overturns Marcellus to St. Louis Pipe – Shutdown Coming?”
The price of natural gas traded on “forward” contracts for the fall at what used to be called the Dominion South (now called Eastern Gas Transmission) trading hub near Pittsburgh is up 23 cents (14%) for contracts in September and October. Forward prices are based on current spot prices. Translation: The market is strongly indicating it thinks the price of M-U gas is heading higher in the coming fall months.
An interesting post by our favorite government agency, the U.S. Energy Information Administration (EIA) about their latest predictions for the price of natural gas at the benchmark Henry Hub. EIA predicts the average price at HH this year, in 2021, will end up being around $3.07 per million British thermal units (MMBtu). The average in 2020 was $1.998 (round it up to $2.00). So this year the average price will be some 54% higher than last year. What about 2022?
We have published a number of posts about hydrogen (H2), the next “big thing” in energy (
Two of three Marcellus/Utica states received permits to drill new shale wells last week, and boy did they open the floodgates! Pennsylvania issued 30 new permits, the majority of which are located on three well pads operated by EQT, Chesapeake Energy, and Range Resources. Ohio issued no new permits. After getting skunked for two weeks in a row, West Virginia issued 16 new permits–to just two drillers: Antero Resources and EQT. All of the WV permits were issued in the same county.
MARCELLUS/UTICA REGION: Pipelines deliver the energy that powers Pennsylvania – and the U.S.; OTHER U.S. REGIONS: Is wider well spacing leading to better performance?; NATIONAL: Biden admin crackdown prompts refinery closure; INTERNATIONAL: BP to stick with oil and gas for decades, CEO says; European natural gas prices hit highest level in over a decade; Oil prices falter amid OPEC+ meeting rumors; China on top of the LNG market.