ANGA Walks into New England Lion’s Den With Hard Truth
It takes guts to walk boldly into the liberal lion’s den and tweak the nose of the beast. That’s what Marty Durbin, chief executive of America’s Natural Gas Alliance (ANGA), has done with an editorial appearing in yesterday’s Boston Globe newspaper. Durbin has the audacity to tell readers that their high energy bills and constrained natural gas supplies is “self-imposed.” He also tells them they can believe whatever they want, but they can’t defy the laws of supply and demand and there is no arguing the fact that New Englanders pay high energy prices because they lack necessary natural gas supplies. Just a few hundred miles away natgas prices in the Marcellus are a fraction of what gas sells for in New England. Marty pours it on! He also says a recent study shows without new natgas supplies for New England, by 2020 the average consumer will pay almost $1,000 more per year in energy costs than they do today. Read Marty’s audacious editorial for yourself below, full of cold, hard truth. Let’s hope New Englanders will see the light–which happens to be a blue natural gas flame…
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CoBank, a national cooperative bank serving vital industries across rural America, has just published a study titled “U.S. Natural Gas Outlook through 2020: Demand Is the New Captain of the Ship” in which they predict the United States will become a net exporter of natural gas in 2017. While we don’t have a copy of the full report, we do have a summary below listing the key points in the report, along with a video…
In another sobering bit of analysis by global research firm Wood Mackenzie, the company tells drillers that while their hammering of the supply chain (like oilfield services companies) to reduce prices by 20-30% will help, it will only result in an overall 10-15% savings. If drillers want to keep their drilling projects “viable” (i.e. profitable), “additional measures” will be needed to manage costs. Wood Mackenzie researchers have a few suggestions for how drillers can continue lowering costs to the point their projects are, once again, turning a profit in a low oil and gas price world. If they don’t lower costs more, there’s a mind-blowing $1.5 trillion worth of shale projects that are “at risk” of not happening…
A year ago OPEC, composed of a group of America’s enemies, decided they would try to bankrupt the American shale energy industry by pumping as much oil as they could, driving the price of oil and natural gas into the subbasement. Good for consumers! Not so good for oil and gas drillers and the energy industry at large. Now that OPEC’s strategy, led by Saudi Arabia, has not worked, OPEC is ready to start talking with American shale producers to see if they can trick us into joining them in circumventing the free market. They want us to cooperate with them to restrict oil and gas output and drive prices back up. We sincerely hope America shale producers don’t do it. We need to bankrupt the Middle Eastern countries that have waged a war of terrorism on us for years. Tell them to pound sand–they certainly have enough of it…
Natural gas production in the mighty Marcellus Shale has dipped over the past several months–for the first time ever. As MDN has previously reported, the U.S. Energy Information Administration’s (EIA) Drilling Production Report (DPR) in June was the first time the EIA predicted Marcellus production would fall, from June to July, from 16,522 million cubic feet per day (MMcf/d) to 16,494 MMcf/d (see 
MDN invites you to join us in attending RBN Energy’s “State of the Energy Markets” one-day event in New York City on July 23. Before you hurry to say “yes,” a few caveats. It costs money (a lot of it). It’s aimed at executives working in the industry, as well as traders and investors. If that describes you (and we know that many of you read MDN), you may be interested in attending. We guarantee it will be a great event. Rusty Braziel & company will provide an overview of the key issues facing natural gas, NGLs and the crude oil market. They will explain how the markets for those three commodities interact and affect each other. They will also take a look at prices, where they may be heading, and how infrastructure affects price. If you are really “into energy” as we are, this is a must attend event. Details are below, along with a link to register…
Canary LLC is the largest privately owned (no publicly traded stock) oilfield services company in the U.S. Canary competes with the likes of Schlumberger, Halliburton and Baker Hughes. We wrote about Canary in January 2014, pointing out the company has operations in both the Marcellus and Utica Shale (see