Top Energy CEOs Skate on Thin Ice by Turning Against Shareholders
If Jeff Bezos (Amazon CEO) and Tim Cook (Apple CEO) jump off a cliff, should you, as CEO of an energy company, jump off too? The CEOs of ExxonMobil, Chevron, Marathon Petroleum and several other big oil and gas companies have just answered that question in the affirmative. Splat. Perhaps they were caught up in the euphoria of the moment. Perhaps they were shamed. (A new disorder for the DSM V: “CEO shaming.”) For whatever reason, a group of CEOs from some of the largest U.S. companies now say the people who buy their company’s stock and fund them via infusions of investment capital are no longer the #1 priority for their companies. We wonder what investors in those companies think. Have they had a change of heart? “Here, take my money and pee it away with no returns. Please! I don’t need this money any more.” Hey Jeff and Tim, we have a bridge in Brooklyn we’d like to sell ya…
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Last Thursday morning at 6:30 am Blue Racer Midstream’s Natrium (Marshall County, WV) natural gas processing plant received a phoned-in bomb threat. Plant personnel immediately contacted law enforcement (local, state and federal) who swept the plant with bomb-sniffing dogs. Nothing was found.
Some 77 miles of PennEast Pipeline’s $1 billion, 120-mile primarily 36-inch underground pipeline is slated to run through Pennsylvania. The rest runs through New Jersey. In February of this year the PA Dept. of Environmental Protection (DEP) published draft versions of Erosion and Sediment Control Permits for the project. Just one teeny tiny problem: The DEP screwed up the application number in their official posting in the PA Bulletin. So the DEP has just republished their intent to issue the permits–very soon–in the latest PA Bulletin.
Equitrans, builder of the 303-mile Mountain Valley Pipeline project, has voluntarily stopped construction on certain portions of the 85% completed project. According to an MVP spokesperson, “The voluntary suspension pertains to areas along the route that may potentially have an impact related to the Endangered Species Act; however, MVP expects to continue with construction, where permitted, in other areas along the route.”
Williams’ Transcontinental Gas Pipe Line Co. (Transco) filed a request yesterday with the Federal Energy Regulatory Commission (FERC) to start up the final pieces of its Rivervale South to Market Project in New Jersey. We first told you about the Rivervale project in 2017 when Williams filed an application with FERC (see 
This one slipped under the radar for a bit. At the end of June, Pittsburgh-area Falcon Drilling, a Marcellus and Utica shale drilling contractor, announced it is buying out and merging in another Pittsburgh-area drilling company, Complete Drilling Solutions. Terms of the deal were not disclosed.
Hoping that lightning strikes twice with the “judges” at the U.S. Court of Appeals for the Fourth Circuit (4th Circus) who read children’s books like The Lorax and use them in their decisions, deep-pocketed Big Green groups have filed a new lawsuit with the quirky judges asking that they overturn federal approvals issued to Mountain Valley Pipeline (MVP) under the Endangered Species Act (ESA). Big Green hopes the clown judges will overturn approvals for MVP the same way they did for Dominion Energy’s Atlantic Coast Pipeline (ACP) project.
Two radical left members of the U.S. House of Representatives–Chair of the House Committee on Transportation and Infrastructure Peter DeFazio (D-OR), and Congressman Tom Malinowski (D-NJ)–sent a follow-up letter to the Pipeline and Hazardous Materials Safety Administration (PHMSA) requesting an update on where the special permit for Energy Transport Solutions, LLC to move liquefied natural gas (LNG) by rail stands now that the public comment period has closed. The letter was not *really* about seeking information, but about threatening PHMSA, signaling that the agency had darned well better block LNG by rail. Or else.
This is one of those “feel good” stories. Going back to 2012, a number of officials in Wyoming County and the borough of Tunkhannock began to dream about connecting the borough to locally extracted Marcellus Shale gas. Among those who helped turn the dream into reality were Williams (the pipeline company) and Cabot Oil & Gas (shale driller). Thanks to the efforts of all involved, Tunkhannock eventually received state-backed funding to build “phase one” of the project (see 
Score a (very) minor victory for THE Delaware Riverkeeper, Maya van Rossum, in her holy mission to block a new fully authorized and permitted LNG export loading facility due to get built on the New Jersey bank of her beloved Delaware River (she thinks she owns the river and “speaks” for it). Riverkeeper filed a Freedom of Information Act (FOIA) request with the Federal Energy Regulatory Commission (FERC) for information about a facility New Fortress Energy is planning for a former DuPont dynamite factory site in NJ.
Once again the New York Dept. of Environmental Conservation (DEC), a corrupt political tool in the hands of an autocratic governor, Andrew Cuomo, has issued a denial of a federal Clean Water Act Section 401 water crossing permit for the National Fuel Gas Company’s Northern Access Pipeline project. Fortunately, DEC’s rejection doesn’t mean a hill of beans since the Federal Energy Regulatory Commission (FERC) overruled the DEC last year.