Antis Pressure OH Gov. to Veto Bill Extending Fracking of State Land
One week ago, MDN told you that Ohio House Bill (HB) 308 had passed votes by both the full House and Senate and was heading to the desk of RINO Gov. Mike DeWine for his signature (see OH Senate Passes Bill Extending Time Drillers Can Frack State Land). HB 308 extends the standard lease terms for drillers who want to drill under (not on) state-owned land from three to five years. The bill also extends the total amount of time fracking operations can last from six to eight years. Sensible increases in both cases. This morning, the radicals of Save Ohio Parks (and their friends) issued a press release demanding (notice the left always demands) that Gov. DeWine veto the bill. Because they say so. Read More “Antis Pressure OH Gov. to Veto Bill Extending Fracking of State Land”
The price of natural gas, both the Henry Hub NYMEX futures price and the spot price, essentially drives more (or less) drilling for natural gas. Hence our frequent coverage of the price, at least when that price is over $3 per million British Thermal Units (MMBtus). The “front month” NYMEX contract closed higher again yesterday at $3.374/MMBtu. Over the past two days, the price has gone up a cumulative total of $0.16, or roughly 5%. The price has gone up four of the past six trading days and is now at the fourth-highest closing price for all of 2024. The question is, why? 
Two days ago, MDN brought you analysis from RBN Energy that said U.S. LNG feedgas demand in 2024 would average “just under” the average from 2023, the first time since we began exporting LNG in 2016 that we have not grown our exports year over year (see 
You’ve always known that there’s corruption in the federal government, right? With that much money sloshing around, people with sticky fingers show up and grab some of it for themselves. Today’s story of government corruption will blow your mind. Thanks to the Biden Infrastructure Law and the misnamed Inflation Reduction Act, some $385 billion was earmarked to be given out as “loans” to so-called “green” projects (kickbacks to political donors). The Department of Energy’s (DOE) Loan Programs Office (LPO) was delegated the responsibility to get the money distributed. So the LPO hired a bunch of independent contractors to help distribute the money, and the contractors (in some cases) are double-dealing—they are serving both the LPO *and* they are representing and serving the borrowers of that money. The DOE’s own Inspector General office is sounding the alarm and telling the LPO it should cease and desist from distributing another dime until safeguards are put in place and contractors with a conflict of interest are removed. 
Yesterday, MDN brought you the news that the Biden Department of Energy (DOE) and its grossly incompetent leader, Jennifer Granholm, released a fake “study” that recommends not approving any more LNG export facilities, claiming we already have enough in the pipeline to last us forevermore (see 
An op-ed appearing on The Center Square website says Donald Trump’s pick to head the Department of Energy, Chris Wright, will lead an American energy u-turn upon taking office. The first sentence begins this way: “The United States is about to witness a complete energy reversal.” Amen to that! We have just lived through four years of an energy nightmare under the gross incompetence of both Joe Biden and Jennifer Granholm. 
According to Dan Eberhart, CEO of Canary, LLC (the sixth-largest wellhead services company in the U.S.), the world is bracing for another energy crisis this winter, with natural gas markets “teetering” on the brink of volatility. It would not take much to push the world into another run on natural gas supplies, which would push prices to “multi-year highs.” The “looming crisis” underscores the urgent need for robust and consistent American energy policies—something the Biden administration’s recent pause on new liquefied natural gas (LNG) export approvals has failed to deliver. The antidote, the fix for this fragile market, is the incoming Trump-Vance administration. 
INTERNATIONAL: Oil market becoming less bearish, Macquarie strategists say; Oil gains on us exports, Fed outlook curbs gains; US issues fresh sanctions related to Nord Stream 2 pipeline; India to surpass China as the top source of global oil consumption growth.