Boston Gets First Winter Delivery of Foreign LNG from Trinidad
Natural gas-starved New England, which lacks sufficient natural gas supplies because politicians like Massachusetts Attorney General Maura Healey (taking over as Governor come Jan. 1st) blocks new pipelines, is satiating its ever-growing thirst for natural gas by importing it from foreign countries at 5-6X the cost of shipping it in via pipeline from the nearby Marcellus. In fact, a shipload of LNG from Trinidad and Tobago was unloaded at Constellation Energy Corp’s Everett LNG import terminal last week.
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According to insiders in the D.C. swamp, the deal that U.S. Senator Joe Manchin (from West Virginia) made with Sen. Chuck Schumer (from New York) to get a “permitting reform” bill passed that would, among other things, allow the 303-mile Mountain Valley Pipeline (MVP), currently 94% built and in the ground, is on “life support.” The bill proposed by Manchin would bypass the clown judges on the 4th Circuit Court of Appeals who are blocking it. The bill supposedly would allow MVP to finish and go online. However, Republicans are being falsely accused of blocking it.
In April, the New York State Assembly passed Assembly Bill A7389C. In June, the New York State Senate passed the same bill, sending it to Gov. Kathy Hochul’s desk for a signature (see 
European political leaders have been hell bent for leather to kill off fossil fuel energy used in their respective countries. And they have pretty much done it. They’ve been successful–at least with reducing the production of fossil energy. Europe has restricted new investment in fossil energy and is now paying the price. According to François-Régis Mouton, regional director for Europe at the International Association of Oil and Gas Producers, Europe has “killed fossil energy.” European manufacturers that depend on fossil energy–either for heat and electricity or as an input into their processes (like fertilizer plants using natural gas), are shutting down. Some are relocating to the U.S.
The silly fools behind the “divest from fossil energy companies” movement are doing the exact opposite of what they had hoped to do. The diverstors are trying to force publicly traded fossil energy companies out of business by bullying investors to divest (refuse to own) stock in fossil fuel companies. The theory is that if enough investors refuse to buy the stock, the stock price will crash and burn, and the company will be forced out of business. But the EXACT OPPOSITE is happening!
NATIONAL: The U.S. shale boom is officially over; U.S. natural-gas pioneer struggles in his second act; INTERNATIONAL: Japan poised for more spot LNG trades; The high cost of Germany’s floating LNG terminals.