ExxonMobil to EPA: We Don’t Need New Methane Regulations
The oil and gas industry, including shale drillers, continue to wait on pins and needles for the jack boots of the federal Environmental Protection Agency (EPA) to come down on their necks with new “rules” (i.e. laws from the Executive Branch, never sanctioned by a vote in the Legislative Branch) on methane emissions that supposedly come from oil and gas drilling. The EPA is desperately trying to regulate that which Constitutionally belongs to the states to regulate: oil and gas drilling. The latest word from nameless/faceless “sources” at the EPA is that they will wait until “after the holidays” to release these onerous new rules. Meanwhile, ExxonMobil, on their Perspectives blog site, points out shale drilling has already led to some of the lowest methane emissions in decades. They say shale drilling is “delivering in spades” when it comes to reducing methane emissions–so why are new rules from the EPA needed at all? It’s a great question from the largest oil and gas company in the U.S….
Read More “ExxonMobil to EPA: We Don’t Need New Methane Regulations”
The Comptroller of the State of New York, Thomas DiNapoli, is the sole person in charge of The New York State Common Retirement Fund–a fund with $160 billion in it. DiNapoli, or rather the NYS Common Retirement Fund, owns $1.02 billion of Exxon Mobil stock. Unfortunately, DiNapoli is an anti-drilling bully (see our 
At the end of an article about EQT, Seeking Alpha blogger and energy analyst Richard Zeits includes a short list of companies who either already belong, or soon will join, the “1 billion cubic feet per day club” of Marcellus Shale gas production.
An energy industry consultant and investment analyst writes an interesting article on Seeking Alpha about Exxon Mobil’s commitment to dry shale shale (“methane only”). Richard Zeits characterizes Exxon’s shift away from dry to wet gas (oil and natural gas liquids) as “radical,” citing Exxon’s onshore rig count decline from 71 to 50 rigs (a 30% drop) since the beginning of this year as evidence of the change. He estimates they use less than 10 of the remaining 50 rigs for drilling in dry gas areas.