CNX CEO Slams ESG Investors – Says NatGas Not Just a Bridge
Nick DeIuliis, CEO of CNX Resources, is hands-down our favorite Marcellus/Utica CEO. Yes, we have favorites! Why is Nick our favorite? Because he is unafraid to call out the environmental left and expose the left’s silly, intellectually bankrupt philosophies that all fossil fuels are evil. DeIuliis is critical of ESG (environment, social, governance) “investors” who demand virtue signaling from the companies they invest in rather than real solutions to climate issues. In a recent interview, DeIuliis explains the good, the bad, and the ugly when it comes to ESG. He also states flatly that (we love this), that natural gas is “not a bridge that’s going to go away; it’s the present and it’s the future.” Go Nick!
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Pennsylvania’s Pipeline Investment Program (or PIPE) issues grants covering part of the cost for building new natural gas pipelines to connect homes and businesses, typically in rural parts of the state, to homegrown Marcellus Shale gas supplies. We’ve written about many of the PIPE grant projects in the past (
The number crunchers at the U.S. Energy Information Administration (EIA) have analyzed proved reserves data for 2020 (the most recent year available) and have determined proved reserves dropped by 4% in 2020. Why? Due to the lower price natural gas was fetching. In these days of natgas flirting with $4-$5/MMBtu it may be hard to recall that just a little more than a year ago gas was bumping around in the $2-$3 range.
At last check (in third quarter 2021) CNX Resources was producing 1.7 billion cubic feet per day (Bcf/d) of natural gas in the Marcellus/Utica, and on track to generate $500 million in free cash flow for the year (see 
The Barack Hussein Obama administration went crazy with over-regulation in many sectors. One of them was to redefine “waters of the United States” (or WOTUS) as everything down to, no exaggeration, mud puddles (see 
Natural gas production has taken a “precipitous drop” in the U.S. in January according to S&P Global Platts. After approaching a record high at over 96.3 billion cubic feet per day (Bcf/d) in late December, U.S. natural gas production has “tumbled since the start of the new year,” falling by over 4 Bcf/d to average just 92.2 Bcf/d in January. Why?
MARCELLUS/UTICA REGION: Good-paying PGW jobs would be irreplaceable if Philly moves away from natural gas; OTHER U.S. REGIONS: Los Angeles bans new oil and gas wells and will phase out old ones over five years; NATIONAL: Why Biden can’t put a cap on oil prices.