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PA Landowners Get Tax Break for Well Depletion Starting This Year

Pennsylvania mineral rights owners (i.e., landowners) now have a well-deserved tax break thanks to a bill passed by the PA legislature and signed into law last summer (see New PA Bill Gives Shale Landowners Same Tax Breaks as Investors). Under Senate Bill (SB) 654, individual landowners receive the same tax benefits afforded to investors. If a company buys mineral rights and the right to receive royalty payments from oil and gas well production, the company, under IRS rules, gets to claim a simple percentage depletion allowance. Essentially, the company only pays income tax on 85% of the royalties it receives. Under SB 654, that same allowance (beginning with taxes filed in 2025 for 2024) applies to landowners in PA. Read More “PA Landowners Get Tax Break for Well Depletion Starting This Year”

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PJM Grid Sees Biggest Demand EVER, NatGas & Coal Saved the Day

Yesterday, with the bitter cold blast (called a polar vortex) hitting the eastern half of the country, the PJM power grid, which covers all or parts of 13 states plus the District of Columbia (including all of Pennsylvania, Ohio, and West Virginia), experienced its largest single-day power draw EVER. The grid came through with flying colors thanks to natural gas, which provided an average of 42.5% of the total power produced yesterday, and coal, which produced 22.9% of all the power produced yesterday. Add in oil with another 3%, and fossil fuels carried the heavy load by producing 68.4% of PJM’s electricity yesterday. How much did solar and wind produce? An infinitesimally small 4.46% of the electricity produced yesterday. Nuclear produced nearly a quarter of PJM’s electricity yesterday at 24.5%. Read More “PJM Grid Sees Biggest Demand EVER, NatGas & Coal Saved the Day”

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PA Gov. Shapiro Gets Uppity with PJM, Threatens to Leave the Grid

In December, PA’s Democrat Governor, Josh Shapiro, filed a complaint with the Federal Energy Regulatory Commission (FERC) alleging the PJM electric grid is being mismanaged and using inflated numbers that will cause economic pain for the 65 million customers who buy electricity in the PJM region—in particular the residents of PA. What’s causing the high prices in PJM, a region rich in natural gas? That would be former Gov. Tom Wolf and current Gov. Josh Shapiro insisting the state tax gas-fired power plants via the so-called Regional Greenhouse Gas Initiative (RGGI). Shapiro is blaming the victim (PJM) for his actions. He just increased the volume (as bullies do) by threatening PJM that PA may pull out of the grid and do its own thing…unless PJM finds a way to fix his mess. Read More “PA Gov. Shapiro Gets Uppity with PJM, Threatens to Leave the Grid”

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Maryland Democrat Flips, Wants to Use NatGas to Fire Power Plants

This is another in a series of observations that we (fossil fuel advocates) are winning. Finally, we are having an impact. The official party line of the Democrats has been to block the use of any and all fossil fuel energy by amping up regulations and passing laws to limit or eliminate its production, transportation, and even usage (witness the Dems trying to outlaw gas stoves, furnaces, and water heaters over the past couple of years). Those efforts have failed spectacularly. And now, some Dems admit their failure, like Maryland General Assembly member C.T. Wilson from Charles County. He told Baltimore’s Fox affiliate that the state “should be open to using natural gas to meet its green energy goals.” There you go. A Dem just redefined natural gas as “green” so he and his party can save face. Whatever. At least they’re beginning to admit what everyone else already knows: The use of natural gas isn’t going away. Read More “Maryland Democrat Flips, Wants to Use NatGas to Fire Power Plants”

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Pass the Jim Beam! Construction Begins on 12-Mile Kentucky Pipeline

In May 2021, MDN told you that Louisville Gas and Electric Company (LG&E) had won Kentucky state approval to build a new 12-inch, 12-mile pipeline south of Louisville to supply gas to homes and businesses (including a Jim Beam distillery) in Bullitt County that can’t connect to LG&E’s local natgas utility system because it is currently maxed out (see Pass the Jim Beam! Judge Clears Way for Gas Pipe Near Louisville, KY). The local Bernheim Arboretum resisted attempts to build across three-tenths of one percent (0.028%) of Arboretum land—along an existing cleared path where electric lines already go. LG&E took the Arboretum to court, and in April 2023, the court ruled in favor of LG&E and its right to build the pipe through a small section of Arboretum land (see Court Allows LG&E to Build Tiny Pipe Thru Kentucky Arboretum Land). Read More “Pass the Jim Beam! Construction Begins on 12-Mile Kentucky Pipeline”

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Expand Energy has “Long Pedigree” and “Deep Technical Bench”

On Oct. 1, 2024, Chesapeake Energy announced its buyout of and merger with Southwestern Energy in a $7.4 billion deal was completed (see Chesapeake & Southwestern Complete Merger; Now #1 U.S. Gas Driller). The newly merged company was renamed Expand Energy Corporation and began trading on the NASDAQ stock market under the “EXE” ticker symbol. Expand is the #1 natural gas producer in the U.S., eclipsing the former #1 EQT. The big difference is that Expand’s production comes from both the Marcellus/Utica and the Haynesville, whereas EQT’s production is 100% from the M-U. Expand is quite the company. Enverus recently named Expand the #2 most prolific shale producer by production in 2024 (see Expand Energy Ranked #2 Most Prolific Shale Producer in 2024). Read More “Expand Energy has “Long Pedigree” and “Deep Technical Bench””

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BlackRock Settles Tennessee Lawsuit for Misleading Investors re ESG

BlackRock is the largest investment firm in the world, currently with $11.6 trillion of investments under management. Larry Fink, the CEO of BlackRock, pushed the so-called ESG (environment, social, governance) agenda for years. What the left and people like Fink mean by ESG is don’t invest in or use fossil fuel energy (E), everything is racist (S), and the government is always right when Democrats are in charge (G). Fink stopped using the ESG term in 2023, although he continued to push the ESG agenda of divesting from fossil fuel companies (see Unrepentant BlackRock Won’t Use ESG Term, Still Forces Divestment). The State of Tennessee sued BlackRock for violating consumer protection laws in December 2023 (see Tennessee Sues BlackRock for Misleading Investors re Aggressive ESG). Tennesee’s Attorney General, Jonathan Skrmetti, announced a deal with BlackRock on Friday to settle the case. Read More “BlackRock Settles Tennessee Lawsuit for Misleading Investors re ESG”

Other Stories of Interest: Thu, Jan 23, 2025

OTHER U.S. REGIONS: Freeport LNG restart hopes, cooler forecasts boost natural gas futures; NATIONAL: EnviTec’s 23 years of expertise optimize chicken manure for RNG in the US market; President Trump gives directive to rename Gulf of Mexico; LNG companies hail Trump decision to lift freeze on export permits; Trump’s climate withdrawal creates rare discord with Big Oil; The energy storage fiasco — how soon will it be abandoned?; INTERNATIONAL: Premier Tim Houston unveils push for more natural resource development in Nova Scotia; Europe may need over 100 extra gas cargoes to refill shrinking stocks. Read More “Other Stories of Interest: Thu, Jan 23, 2025”