25 States Led by WV Ask DC Circuit to Overturn EPA Power Plant Reg
The Bidenistas at the EPA attacked coal and gas-fired power plants in April, threatening to destabilize the existing electric power grid with new regulations (see EPA Rolls Out Final Regs Attacking Coal & Gas-Fired Power). Using 1,020 pages of new regulations, which will go into effect this year, all coal-fired plants that are slated to remain operational in the long term and all new gas-fired power plants will be required to control (capture) 90% of their carbon emissions using expensive and unproven technology. Translation: New gas-fired plants won’t get built, and most, if not all, coal plants will shutter, with the result that electricity will, by necessity, be rationed (see WSJ Calls Biden EPA Power Plant Regs a Plan to “Ration Electricity”). But that won’t happen if West Virginia Attorney General Patrick Morrisey and the AGs for 24 other states have their way. Last week, Morrisey and other AGs petitioned the U.S. Court of Appeals for the DC Circuit, asking the court to invalidate the EPA’s new finalized power plant regulation.
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This story gets a little complicated, but we’ll do our best to explain. The Algonquin Gas Transmission (AGT) pipeline (owned by Enbridge) transports up to 3.09 Bcf/d through 1,131 miles of pipeline. Algonquin connects to Texas Eastern Transmission (TETCO), Millennium Pipeline, and Maritimes & Northeast Pipeline and supplies New England with critically needed natural gas supplies for power generation and consumer use. Anti-fossil fuel fanatics who see carbon dioxide molecules under every rock and lurking in every shadow claim a tiny upgrade to an AGT regulating station (costing $15.7 million) in Connecticut is part of Enbridge’s Master Plan to expand AGT throughout the region. Led by the radicals of the Sierra Club, protesters will hold a meeting on Thursday to oppose the upgrades to a regulating station that does nothing more than aim to keep the gas reliably flowing through existing pipes.
According to recently released data, water sales for fracking activities throughout Westmoreland and its neighboring counties represent only a tiny portion of what is distributed daily to local residential, commercial, and industrial customers. Municipal Authority of Westmoreland County (MAWC) said water purchased by local energy companies, which includes shale and conventional drillers, accounts for just 4% of the more than 11.5 billion gallons that were sold over the preceding 12 months. Whoops! Another lie of the environmental left — that fracking is soaking up all of our precious water supplies — is now exposed.
Every four years, the Pennsylvania Public Utility Commission (PUC) must approve plans by PECO, Pennsylvania’s largest electric and natural gas utility, delivering power to nearly 1.7 million electric customers and more than 545,000 natural gas customers in southeastern Pennsylvania. The plans under review are for how PECO, a fully regulated utility, will procure (buy) electricity for the next four years. In February, PECO filed its 1,235-page purchase plan with the regulators. The company plans to do what it has been doing (i.e., what’s been working), which is to obtain the least expensive electric supply and purchase 8% of its power from renewable sources, including 0.5% of solar energy generated within the state. Anti-fossil fuel nutters are having a cow, demanding (they always demand) that PECO buy far more unreliable renewable electricity, skyrocketing the cost to consumers.
Last week, the Baker Hughes U.S. rig count lost another two rigs, down to 603, the lowest the count has been since January of 2022. Since last October, the national count had gone as low as 616 and as high as 629, and that was it — a fairly narrow band. That is, until three weeks when it crashed through the floor and went lower, down to 613. Then, two weeks ago, it was down to 605. And now, it has gone even lower, down to 603. Will we see it go lower than 600?
The NYMEX futures price for natural gas has been trending higher lately. It closed down a nickel on Friday, but overall, the trend has been up, up, and away. Since price is so important, we cover the topic frequently. Lately, we’ve made the following points (in various posts): (1) Natural gas production is declining, thanks to drillers like EQT, Chesapeake, and Antero curtailments. (2) LNG export demand is increasing with Freeport back online and a couple of new plants coming online soon. Both of those factors combine to drive the price higher. However, there’s another factor at work to keep prices lower.
Former President Donald J. Trump met with members of the oil and gas industry last month at his Mar-a-Lago estate. According to snitches at the event, after one of the O&G big whigs complained about Biden’s attack on the fossil fuel industry, DJT made them all a deal: Raise $1 billion for his reelection campaign and on “Day One” of a new term, DJT will set about fixing the damage done by Biden to the industry. Sounds like a good deal to us!
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