Study: Lower Mortgage Defaults, Higher FICO Scores in PA Marcellus
The benefits of shale energy are almost too numerous to list. Contrary to the ninny nannies who spit and spout and preen about yelling the sky is falling if we frack one more well–the OPPOSITE is the truth. Shale is GREAT for America, in so many ways. Channeling our inner Donald Trump, “It’s very very great. So great you won’t believe how great it is. You’re gonna love it!” Here’s just one more way shale is great. A researcher from Clemson University (in South Carolina) poured over mortgage data for the state of Pennsylvania. As you know, not all of PA is blessed with being located in the Marcellus Shale–but much of it is. The intrepid Clemson researcher found in reviewing records from 2004 to 2011 that those with mortgages who live in areas where there is Marcellus Shale defaulted on those mortgages 58% LESS than the statewide average. That is, shale means there’s more money to pay bills, a mortgage being one of them. Might we say that the Marcellus can literally save the family farm? Yes, we can say it, and back it up with data! The Clemson researcher also found living in a shale region boosts your FICO credit score…
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The U.S. Chamber of Commerce recently launched a “What If…?” series to counter the radical “keep it in the ground” movement–a movement that irrationally hates the use of fossil fuels. In August the Chamber released their first such report, titled “What If…Energy Production was Banned on Federal Lands and Waters?” (see 
This story is unbelievable on so many levels. A pointy-headed liberal who cloisters himself inside the insular Beltway of Washington, DC made a trip to Pittsburgh last week to talk to a small class of 70 students at Carnegie Mellon University. In this talk the lib proclaimed that the “incentives” provided by PA to Shell to lure a cracker plant to the state are, essentially, monies the state didn’t have to spend and a burden to the taxpayers of PA because Ohio and West Virginia may also reap some of the benefits of the cracker (without “paying” for it). The lib’s operating assumption is that 100% of everyone’s money belongs to the all-knowing government–including money made by big, evil corporations like Shell. He further states that by granting a few exemptions on taxes to Shell, PA is taking money out of the pockets of common folk. His philosophy and assumptions are so twisted it’s beyond belief. What’s more twisted is that the Pittsburgh Post-Gazette wrote a major story about the talk–as if it’s news…
The Ohio Business Roundtable (BRT) is a partnership of the CEOs of leading Ohio companies that collectively account for more than $1 trillion in annual revenues, $1 trillion in market value and $2.6 trillion in assets. BRT’s members employ 2.6 million men and women, invest hundreds of millions of dollars annually in combined charitable contributions and research and development, and generate billions of dollars in sales for small and medium-sized businesses that are part of the supply chain. When the BRT in Ohio talks, people had better listen. Here’s the latest in what the BRT has to say: The state (i.e. Gov. Kasich) needs “a comprehensive reworking of the state’s energy policies in order to accelerate shale gas development.” No more tiptoeing around. Build those pipelines and build them NOW. That’s the upshot of a new report from the BRT titled, “Improving Ohio Energy Competitiveness” (full copy below). The report is backed up by detailed research from powerhouse consulting company McKinsey and Co. (their research is also embedded below). The BRT’s report points out the importance of the state’s natural gas-fired electric generating plants and says without more pipelines, new power plants won’t get built. The two issues are joined at the hip–vitally important for Ohio’s shale drillers, midstream companies, electric generators and yes Ohio’s electric ratepayers as well. LISTEN UP: Here’s what the BRT had to say…
A new report issued by the U.S. Chamber of Commerce addresses the question, “What If…Energy Production was Banned on Federal Lands and Waters?” (full copy below). The short answer to that question is, it would be an unmitigated disaster for this country. There is a movement underway by radical environmentalists with the catch phrase of “Keep It In The Ground”–meaning we should stop extracting oil and natural gas. It is an acutely ignorant position to take. The report says, “Instituting a ban on future federal-lands leasing and stopping the current production of these resources would increase energy prices for consumers by removing low-cost resources from the available supply stream. The impact would be immediate and severe to the U.S. economy, leading to the loss of hundreds of thousands of American jobs, and robbing the federal government and primarily eastern states of potentially billions of dollars in revenues in the form of lost royalties.” Keep It In The Ground boobs don’t own land and sip lattes at Starbucks in large cities with their radical friends. They don’t care about lost jobs and lost royalty revenue–because it doesn’t affect them. Opposing “nasty, dirty fossil fuels” makes them feel good about themselves. They are dangerously stupid. This report (read it below) illustrates just how catastrophic it would be to ban fossil fuel extraction on federal lands. The report finds that the U.S. economy would lose 400,000 jobs and $70 billion in annual GDP if we were to abandon energy development on public lands, as President Obama and presidential hopeful Hillary Clinton and the entire Democrat Party advocate…
Last week MDN reported that Dennis Davin, Secretary of the Pennsylvania Department of Community and Economic Development (DCED) had gone on a roadshow to three counties that will be most affected by Shell’s ethane cracker plant planned for Beaver County (see 
In June MDN told you about an economic development group of business and government leaders from Ohio and West Virginia (the Mid-Ohio Valley) called Shale Crescent (see 
A banker, a real estate developer and a natural gas drilling company rep walk into a bar… No wait! This isn’t a joke! A banker, a real estate developer and a natgas drilling rep were panelists at seminar held yesterday, organized by the Pittsburgh Business Times. Even though there has been a major slowdown in Marcellus/Utica drilling, all three panelists were upbeat and optimistic–in no small part because of the coming Shell ethane cracker in nearby Beaver County. One comment made about the Shell cracker: “We’re not just building a facility; we’re building an industry.” That’s just how major the Shell project will be in the greater Pittsburgh area. Another comment: “The Marcellus Shale is not in the tank…It has slowed down, which is typical of industries that are sensitive to price cycles, [but] it’s consistent, affordable and is stable.” More interesting tidbits from the PBT soiree…
We suppose we should have known, but we didn’t. We didn’t know that Pennsylvania has a Department of Community and Economic Development (DCED). In fact, the DCED has its own cabinet-level Secretary–Dennis Davin–appointed by Democrat Gov. Tom Wolf in January 2015 when Wolf assumed office. Davin has stayed largely under the radar–until now. Wolf has sent Davin out on a road show to promote the forthcoming Shell ethane cracker plant. Davin is conducting roundtable discussions in various communities around PA to generate ideas on how local businesses can benefit from the cracker. So far he’s visited Beaver County (where the cracker will be built), Lawrence County and Washington County. The DCED is flooding the airways with press releases about Davin’s cracker road show…
Gene Barr is the president and CEO of the Pennsylvania Chamber of Business and Industry. The PA Chamber is a big supporter of the Marcellus industry. Writing a column that appears in a recent edition of the York Dispatch, Barr gives full-throated support to three pipelines “critical” to PA’s future: Williams’ Atlantic Sunrise; Sunoco Logistics’ Mariner East 2; and UGI Energy Services’ PennEast. We really liked Barr’s column (read it below). However, we would add a fourth pipeline to his list of critically important pipelines for PA drillers: the Williams Constitution Pipeline. While the three projects Barr names will be mostly built in PA, the Constitution Pipeline will be mostly built in New York State. We suppose that’s all we have to say for you to know why that project is in trouble. At any rate, here’s the reasons Barr offers for supporting the three pipelines he mentions in his column, reasons that equally apply to the much-needed Constitution Pipeline too…
Last week MDN was the first to share the news that the California-based US Methanol is building at least two, rumored up to five, methanol plants in the Mountain State (see 
Methanol plants convert natural gas into methanol, used as a chemical feedstock (or raw material) to create other things, like gasoline, antifreeze and more. More commonly you may call it a gas-to-liquids (GTL) plant. Methanol plants have the capacity to create a big demand for natural gas and sop up some of the oversupply we have in the Marcellus/Utica. In May we told you about Primus Green Energy’s plan to build a 160 metric tons per day (MT/day) methanol plant for Tauber Oil somewhere in the Marcellus (see 
Although he still wants to tax the Marcellus Shale industry out of his state, Pennsylvania Gov. Tom Wolf (with the dubious title of “most liberal governor in the U.S.,” see 