PennEast Pipeline Squeaks Out 5-4 Supreme Court Victory Over NJ
As we previously predicted would happen, New Jersey lost its Supreme Court case to block PennEast Pipeline from using eminent domain to cross NJ-owned or controlled land. This was a critical case to prevent blue states like NJ, and New York, and California from blocking ALL new interstate pipelines aimed at crossing states to deliver product from other states. NJ’s lawless action was an overt attempt at blocking interstate commerce and a direct challenge to one of the purposes of the Natural Gas Act, passed in 1938. Disappointingly PennEast won by only one vote. Still, it’s a victory!
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Last October MDN told you that DTE Energy, a long-time pipeline builder and operator in the Marcellus/Utica region, was considering either selling or spinning off its pipeline business (see 
Yesterday EQT, the largest natural gas producer in the U.S., released its annual Environmental, Social and Governance (ESG) Report, outlining the company’s 2020 operational data and initiatives aimed at improving the way EQT produces “environmentally responsible,” reliable, and low-cost energy. Additionally, EQT announced targets to achieve net zero Scope 1 and 2 so-called greenhouse gas (GHG) emissions in its production operations by or before 2025–less than four years away.
One of the driving forces behind the whole ESG (environmental, social, governance) push that aims to force oil and gas companies to foreswear using the very product they extract from the ground is what we called pimple-faced Millennial investors. Kids who grew up watching Captain Planet cartoons–and believing what they watched. A form of mind-control and brainwashing. A sharp investment expert has analyzed investing for ESG and proves it’s a sham. It’s a fraud. It’s the “Great Wall Street Money Heist”…
All three Marcellus/Utica states received permits to drill new shale wells last week. Pennsylvania issued 9 new permits, all but one of them for the same well pad in Greene County. Ohio issued 3 new permits, two on a single pad in Monroe County. And West Virginia issued just 1 new permit last week–to a company we had not previously heard of.
MARCELLUS/UTICA REGION: Shale Academy preparing for upcoming school year; OTHER U.S. REGIONS: Driftwood LNG enters into long-term lease with Lake Charles; Tellurian weighs ‘business combination’ to aid upstream plan tied to Driftwood LNG; Texas upstream employment continuing to rise, with job count up sharply; New Mexico becomes No. 2 crude producer; NATIONAL: Former Texas driller shifts focus to plugging old wells; Biden-backed carbon border tax faces fight from developing world; SEC commissioner says exec. comp should be tied to ESG; Cummins to produce natural gas fuel delivery systems; INTERNATIONAL: Oil prices advance as OPEC+ deals with setback; Limited prospect of global LNG market softening in 2022.