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NYMEX NatGas Price Hits 52-Week High of $3.43/MMBtu

We don’t begin to get excited about the price of natural gas unless and until it’s above $3/MMBtu and it stays there for a while. We’re there. Yesterday, the “front month” contract for NYMEX Henry Hub natural gas closed up 6.2 cents (1.8%) at $3.43/MMBtu. Over the past two days, the price closed up 30.2 cents (9.65%). Yesterday’s closing price was a 52-week high. Finally. Why the dramatic increase? Weather. Read More “NYMEX NatGas Price Hits 52-Week High of $3.43/MMBtu”

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CNX New Tech Exec Says M-U has Lowest Carbon/Emissions Intensity

Ravi Srivastava

The hits continue to roll in from Hart Energy’s DUG Appalachia event held in Pittsburgh earlier this month (two days after the election). Jordan Blum, editorial director for Hart, did a sit-down interview with Ravi Srivastava, president of new technologies for CNX Resources. The conversation was ostensibly about the important role of data centers and AI (artificial intelligence) for the upstream sector. As part of that conversation, Srivastava pointed out that CNX is high on the M-U and that a number of studies have shown that the lowest carbon intensity or emission intensity gas is produced in the M-U. Read More “CNX New Tech Exec Says M-U has Lowest Carbon/Emissions Intensity”

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New Fortress Energy Sells Small Miami LNG Plant to Pennybacker

Miami LNG (click for larger version)

We’ve talked plenty about the big LNG export facilities scattered along the Gulf Coast that export a fair amount of Marcellus/Utica molecules (and the two LNG export sites on the East Coast, both of which export 100% M-U molecules). We now and again talk about some of the smaller LNG export operations, including a couple of small operations along the Atlantic Coast of Florida. This story is about one of the latter. Last week, investment firm Pennybacker Capital Management announced it had closed on purchasing New Fortress Energy’s (NFG) Miami (Florida) LNG business for an undisclosed amount. We don’t have proof, but we suspect that at least some Marcellus/Utica molecules flow to the facility, making this transaction of interest to the MDN audience. Read More “New Fortress Energy Sells Small Miami LNG Plant to Pennybacker”

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New Study Proves LNG is Far Cleaner Than Anyone Thought

In October, MDN told you about a Congressional investigation looking into the Department of Energy’s use of a prematurely released “study” as an excuse to “pause” (i.e., ban) new LNG export approvals (see Congress Probes Role of Bob Howarth Study in DOE LNG Pause). Cornell professor Robert Howarth, using money from the anti-fossil fuel Park Foundation, wrote a “study” that purports to show that LNG is worse for the environment than burning coal! It’s an elaborate exercise in mental gymnastics. The DOE used the study before it was peer-reviewed and published, i.e., before it was properly vetted. Now comes a true peer-reviewed study that exposes Howarth’s study as sloppy and unreliable. Read More “New Study Proves LNG is Far Cleaner Than Anyone Thought”

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Biden EPA Takes Final Swipe at Gas-Fired Power with New NOx Reg

In the spirit of doing the maximum amount of damage to the fossil fuel industry before being pried out of their cushy offices in the D.C. swamp, the Biden EPA last week proposed yet another onerous new regulation aimed at strangling natural gas-fired power plants. This latest attack ups the limits on emissions of nitrogen oxides (NOx) from most new, modified, and reconstructed gas-fired power plants. It’s a safe bet that the incoming Trump EPA administrator, Lee Zeldin, will withdraw the proposed regulation before it can be implemented. So, at least there’s that. However, the new reg comes from a “sue-and-settle” court case with the odious Sierra Club in 2022 that requires a new reg to be in place by Nov. 2025. Read More “Biden EPA Takes Final Swipe at Gas-Fired Power with New NOx Reg”

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AGA Argues Against Biden DOE Furnace Reg Before D.C. Circuit

In October 2023, the Biden Department of Energy (DOE) published a new rule that cracks down on gas furnaces in homes, essentially phasing out many existing models and requiring new ones to meet onerous new standards (see Bidenistas Attack Your Gas Furnace with New DOE Regulations). The new DOE rule requires a 95% annual fuel efficiency standard, up from the 80% that was on the books before the new rule was published. New models will be mandatory by 2028—and you’ll pay an average $4,700 for your new gas furnace. The American Gas Association, in collaboration with other trade associations and organizations, sued to block the new rule. Last Thursday, the AGA presented oral arguments before the Court of Appeals for the District of Columbia Circuit. Read More “AGA Argues Against Biden DOE Furnace Reg Before D.C. Circuit”

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Unpausing New LNG Export Approvals Won’t Spike Domestic Prices

The incoming Trump administration will have a big emphasis on natural gas, including LNG (liquefied natural gas) exports. Lazy journalists and lazy economists try to scare the general public into believing more (new) LNG exports from this country will cause the price of domestic natural gas to skyrocket. Their arguments presume no increase in natgas production, which is a fallacy. There are many reasons why the price of natgas isn’t going to skyrocket from more LNG export approvals. Read More “Unpausing New LNG Export Approvals Won’t Spike Domestic Prices”

Other Stories of Interest: Wed, Nov 27, 2024

OTHER U.S. REGIONS: Maine AG’s climate lawsuit risks higher energy costs for residents; NATIONAL: Exxon says ‘drill, baby, drill’ is unlikely under Trump; What’s next for the radical climate agenda?; INTERNATIONAL: Alberta plans legal challenge to bypass Trudeau cap on oil, gas emissions; More oil, gas exploration needed now says WoodMac; Woodside CEO says gas market volatility signals supply tightness. Read More “Other Stories of Interest: Wed, Nov 27, 2024”