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Left Claims MVP Pipes “Rotting” Above Ground for Years, Dangerous
It really is sad (and angering) to behold the tactics of the left. Their favorite #1 tactic is fear. If the left can convince you the end is near à la “climate change” and “ticking time bomb pipelines” and “bomb trains” and “radiation” and “water contamination” and other incendiary (false) claims about fossil energy, they have you. The left thought it had won the Mountain Valley Pipeline (MVP) battle and had stopped this 94% completed project cold. But then Congress passed the “debt ceiling” bill that forces the completion of MVP (see Equitrans Announces Mountain Valley Pipe to Get Completed in 2023). However, the very creative left isn’t done yet–oh no.
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The Henry Hub price of natural gas (even physically traded spot prices around the country) are ever-so-gradually moving higher. Yes, we’re cheerleaders for higher natgas prices! (Not too high, but certainly higher than the current $2-$3 range.) Even though we’re pro-gas and cheerleaders for higher prices (we openly admit our bias), we’re also realists, and we try to bring you the unvarnished truth. Are prices really moving higher? Or is this just another short-term up/down cycle?
NGLs, or natural gas liquids, are an essential revenue stream for Marcellus/Utica drillers in the “wet gas” regions of the play. Those regions are found in southwestern Pennsylvania, the northern panhandle of West Virginia, and eastern Ohio. There are several pipelines that flow M-U NGLs to other regions or to export facilities. Among them is Enterprise Products Partners’ 1,230-mile Appalachia to Texas Express (ATEX) pipeline to the Gulf Coast, and Kinder Morgan’s 270-mile Utica-to-Ontario-Pipeline-Access (UTOPIA) pipeline from Harrison County, Ohio, to Windsor in Canada’s Ontario province. However, most M-U NGLs travel through Energy Transfer’s Mariner East and West pipelines, with Mariner East flowing to the Marcus Hook export terminal near Philadelphia.
Gas-fired power plant additions have surged in 2023 according to the Federal Energy Regulatory Commission’s (FERC) most recent infrastructure report (full copy below). Nearly 4,470 megawatts (MW) of natural gas-fired electric generation came online in the first four months this year, up from 551 MW in the same period in 2022. Utility-scale solar capacity increased by 3,409 MW through April of this year, up from 3,064 MW in the year-ago period. New wind capacity fell to 1,967 MW from 5,161 MW in the same period last year. Contrary to the constant meme that “renewables” like solar and wind are replacing natural gas for electric generation, the facts say otherwise.
Other than not using the term ESG (environment, social, governance), Larry Fink, the CEO of the world’s largest investment firm, BlackRock, hasn’t changed. He intends to keep pushing ESG without calling it that. Fink tells the companies that BlackRock invests in to lower carbon emissions (i.e., stop using fossil energy, and stop making loans to fossil energy companies). He is completely unrepentant, even though state after state is dropping his company’s services.
OTHER U.S. REGIONS: Cheniere and ENN sign LNG sale and purchase agreement; NATIONAL: Biden proposes to cut project fees for wind and solar by 80%; Electric vehicles make no sense on the battlefield.