PA New Shale Permits Remain Low Despite High NatGas Price
Well permits, long tracked by MDN, are a leading indicator of drilling activity. In Pennsylvania, four of the state’s five biggest producers–EQT, Chesapeake Energy, Range Resources, and Southwestern Energy–have kept the pace of drilling new wells “subdued” according to an analysis by S&P Global Market Intelligence. The top five producers in PA accounted for only 51% of the permits issued in September, down from 53% in August. Normally, the top five drillers account for roughly two-thirds of permits issued each month.
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Last week we told you about the uber-sleazy Attorney General in Pennsylvania, Josh Shapiro, handing down an indictment with 48 counts against Energy Transfer over (mostly) drilling mud spills–accidents that were previously addressed and handled by the state Dept. of Environmental Protection (see 
According to a Bloomberg article, the energy crisis that’s led to electricity shortages and blackouts in Europe and Asia may be heading for the U.S. Utilities in New York and New England are warning customers to expect higher residential heating bills this winter due to surging global natural gas demand and prices. The fact is the U.S. has plenty of natural gas. The problem with high prices and potential outages is lack of pipelines to flow natural gas from where it’s extracted to where it’s used.
Comrade Joe Biden has painted himself into a corner. As Biden entered office, the United States of America was, after more than 50 years, energy independent. Upon seizing power, Biden canceled the Keystone XL pipeline from Canada and illegally banned federal oil and gas leasing. Now we have an oil and gas shortage and Biden is begging OPEC+ to increase production. What a dunce. This is how inept socialists are. So what can Biden do to get himself out of the corner he’s painted himself (and us) into?
U.S. Senator Joe Manchin from West Virginia remains the only thing standing in the way of the Democrats’ far-left, socialist plan to remake the country using a pair of bills that will spend over $5 trillion of your tax money. Both the infrastructure bill and the so-called budget reconciliation bill contain new regulations and laws that directly, nakedly, attack the oil and gas industry. The Democrats want to end fossil fuels–a truly frightening (and stupid) plan. Manchin is holding them back. Will he cave?
OTHER U.S. REGIONS: Permian shale oil is booming again; California law to eventually ban gas-powered lawn equipment; NATIONAL: Oil bull continues run with WTI closing above $80; Citi says oil may climb to $90; INTERNATIONAL: Are algorithms to blame for Europe’s natural gas crisis?; Did Putin pop the global natgas bubble, or give Europe a last chance to stock up?