NatGas Hottest Commodity in World – US Price Up 100%, Europe 700%
According to Bloomberg, natural gas is “the hottest commodity in the world” right now. Since the start of last year, the price natural gas fetches in Europe has risen a staggering 700 percent! In a separate article from the U.S. Energy Information Administration, the EIA points out the Henry Hub NYMEX price of natgas has doubled over the past 12 months. Natural gas, says Bloomberg, now rivals oil as the fuel that shapes geopolitics. And there isn’t enough of it to go around. This is a golden opportunity for the U.S. to produce and export more of it.
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As he promised to do, Allegheny County, PA County Executive Rich Fitzgerald vetoed a horrible bill passed by County Council that would prohibit drilling and fracking *under* county-owned parks (see 
Sometimes it’s hard not to despair when you see big investment firms aggressively trying to defund oil and gas companies (see 
Last November, Congressional Democrats (and a few RINO Republicans) passed the $1.2 trillion boondoggle referred to as the Biden infrastructure bill (see 
You know we’re not big fans of the American Petroleum Institute (API), an organization run by Big Oil companies (like Exxon and Chevron) that actively works against the best interests of smaller independent shale energy producers. API supports an oil and gas-killing carbon tax, as just one example of its fossil fuel heresy. Yet the API has suddenly grown a spine and is attacking President Biden’s pathetic begging trip to Saudi Arabia to ask OPEC to increase oil production. API even released a new video inviting Biden to visit American energy sites following his failed Middle East visit to learn how American energy companies can solve the problem of high gasoline prices.
Under orders from the White House, earlier this year Federal Energy Regulatory Commission (FERC) Chairman Richard “Dick” Glick tried to permanently enshrine global warming considerations as a requirement to approve all new pipeline projects (see 
For the week of July 4-10, the three Marcellus/Utica states issued 37 permits to drill new shale wells. Pennsylvania led the way, as it typically does, by issuing 25 new permits. Three PA drillers tied with six permits each, all six (in each case) on the same pad: Olympus Energy in Allegheny County, Repsol in Bradford County, and Clean Energy Exploration in Tioga County. Ohio issued five new permits, with four going to Encino Energy for a single pad in Carroll County. West Virginia issued seven new permits, all of them to Antero Resources in Doddridge County but spread across three pads.
NATIONAL: U.S. natgas futures jump 9% on output drop, hotter forecasts; U.S. weekly LNG exports increase by four LNG carriers; US oil, gas producers join UN-backed methane emissions reporting program; U.S. efforts to punish Russia echo response to 1973 oil embargo; US working natural gas in underground storage increases by 58 Bcf.