ESG

ESG | Industrywide Issues | Regulation

DOE Sec. Wright: Net-Zero is Not Energy Transition, It’s Lunacy
February 18, 2025February 18, 2025

Newly-confirmed Secretary of Energy, Chris Wright, appeared virtually before the ARC Conference in London yesterday. ARC stands for The Alliance for Responsible Citizenship, an international movement with a vision for a better world where empowered citizens take responsibility and work together to bring flourishing and prosperity to their families, communities, and nations. The ARC organization tilts right. During a Q&A interview, Wright shared some fantastic truths, among them: “Net zero 2050 is a sinister goal, it’s a terrible goal.” He also said that countries that set net zero goals “export your industry.” And net-zero “is not energy transition” but instead “is lunacy.” Three cheers for Chris Wright! Read More “DOE Sec. Wright: Net-Zero is Not Energy Transition, It’s Lunacy”
CNX Resources | Energy Companies | ESG | Industrywide Issues | Pennsylvania | Statewide PA

CNX Data Shows “No Material Impact” to Air & Water from Drilling
February 12, 2025February 12, 2025

CNX Resources’ Radical Transparency™ program is a first-of-its-kind public-private collaboration announced between CNX and Pennsylvania Governor Josh Shapiro in November 2023 (see CNX Signs Deal with PA Gov. to Increase Setbacks, Other Changes). We’re no fans of Josh Shapiro, a guy who repeatedly attacked the Marcellus industry when he was Attorney General, but sometimes you do a deal with the devil to make a point. We think CNX bested Shapiro with its deal. CNX released its first Radical Transparency™ assessment report in August 2024 (see Independent Monitoring of CNX Ops Shows No Public Health Threat). The initial results of nine months of continuous air emissions monitoring at natural gas well sites and compressor stations in southwestern Pennsylvania indicated that CNX natural gas development poses no public health risk. Yesterday, CNX CEO Nick Deluliis told the Department of Environmental Protection’s Citizens Advisory Council that a year and a half of air and water monitoring shows “no material impact” to air or water quality from its natural gas development operations.

Read More “CNX Data Shows “No Material Impact” to Air & Water from Drilling”
Anti-Drilling/Fossil Fuel | ESG | Industrywide Issues | Litigation

BlackRock Settles Tennessee Lawsuit for Misleading Investors re ESG
January 23, 2025January 23, 2025

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”
Anti-Drilling/Fossil Fuel | ESG | Industrywide Issues

Net Zero Asset Managers Group “in Tatters” After BlackRock Exit
January 15, 2025January 15, 2025

We can’t stop giggling. Last Friday, MDN brought you the news that the world’s largest investment firm, BlackRock, announced it had canceled its membership and participation in the Net Zero Asset Managers (NZAM) initiative (see World’s Largest Investment Firm, BlackRock, Dumps Net-Zero Club). NZAM is closely aligned with global efforts to address so-called climate change, including those supported by the United Nations. Now comes word less than a week later that NZAM has “suspended activities” and removed not only its mission statement but the entire list of firms that are members of the group. The organization is reported to be “in tatters.” Read More “Net Zero Asset Managers Group “in Tatters” After BlackRock Exit”
ESG | Industrywide Issues

World’s Largest Investment Firm, BlackRock, Dumps Net-Zero Club
January 10, 2025January 10, 2025

Elections certainly do “have consequences,” as Lord Obama once famously said. Less than two months after Donald J. Trump won the election and Republicans won both houses of Congress, the six largest banks in the U.S. all withdrew their membership in the United Nations Net Zero Banking Alliance (NZBA), with the largest bank, JPMorgan Chase, leaving earlier this week (see Largest Bank in U.S. Drops Out of UN’s Net Zero Banking Alliance). And now, wonder of wonders! The investment equivalent of Darth Vader, BlackRock, with some $9 trillion of investments under management, announced that it is pulling out of the investment banking equivalent of NZBA, something called the Net Zero Asset Managers (NZAM) initiative. Translation: It’s OK to invest in fossil energy once again. At least here in the good old US of A. Read More “World’s Largest Investment Firm, BlackRock, Dumps Net-Zero Club”
Anti-Drilling/Fossil Fuel | ESG | Industrywide Issues

Largest Bank in U.S. Drops Out of UN’s Net Zero Banking Alliance
January 9, 2025January 9, 2025

Last week, MDN brought you the great news that five of the six largest banks in the United States have now canceled their memberships in the awful Net Zero Banking Alliance (NZBA), a group of woke banks under the umbrella of the equally terrible United Nations (see U.S. Big Banks Drop Out of the UN’s Net Zero Banking Alliance). Our country’s largest bank, JPMorgan Chase, was still a member of the NZBA. We said, “We wonder when (not if) JPMorgan will resign its membership.” Prescient. Yesterday, JPMorgan announced it was leaving the NZBA, too. Read More “Largest Bank in U.S. Drops Out of UN’s Net Zero Banking Alliance”
Anti-Drilling/Fossil Fuel | ESG | Industrywide Issues

U.S. Big Banks Drop Out of the UN’s Net Zero Banking Alliance
January 3, 2025January 9, 2025

It’s a mass exodus of U.S. big banks leaving the awful Net Zero Banking Alliance (NZBA), a group of woke banks managed by the equally terrible United Nations. The NZBA is all about defunding fossil fuels. The UN apparently didn’t get the memo that the U.S. has reversed course and now supports fossil energy. Over the past month or so, the following banks have quit their membership in the NZBA: Citigroup, Bank of America, Morgan Stanley, Goldman Sachs, and Wells Fargo. They are five of the six largest banks in the U.S. Read More “U.S. Big Banks Drop Out of the UN’s Net Zero Banking Alliance”
ESG | Industrywide Issues | Research

Methane Emissions in Marcellus/Utica Down 52% from 2019 to 2023
December 11, 2024December 11, 2024

The environmental left is hellbent on regulating fossil fuels, including oil and natural gas, out of existence. One of their favorite (false) memes is to claim methane is a bazillion times more “potent” in causing global warming than other things, like carbon dioxide. The false narrative continues that shale drilling is causing a stratospheric increase in fugitive methane leaks into Mom Earth’s atmosphere. Except….it isn’t true. According to data from the Environmental Protection Agency, methane emissions from the country’s top oil and gas-producing basins have fallen 44 percent since 2011. Methane emissions right here in the Marcellus/Utica have fallen 52% from 2019 to 2023! Read More “Methane Emissions in Marcellus/Utica Down 52% from 2019 to 2023”
Energy Companies | EQT Corp | ESG | Industrywide Issues

EQT’s Path to Net Zero Plants Trees Rather Than Buys Carbon Credits
December 2, 2024December 2, 2024

As we’ve stated many times, we’re not fans of so-called “net zero.” Net zero emissions refer to balancing the amount of greenhouse gases (GHG) emitted into the atmosphere with an equivalent amount of GHG removed, resulting in no net increase in atmospheric GHG concentrations. Scope 1 and 2 emissions are part of the broader framework defined by the Greenhouse Gas Protocol, which divides emissions into three categories (Scopes 1, 2, and 3) based on their source. We told you in October that EQT Corporation had achieved net zero for Scopes 1 and 2 about a year earlier than expected (see EQT Hits “Net Zero” Scope 1 & 2 Emissions Targets Early). Today’s post is about how EQT achieves net zero, which differs from many of its peers. Read More “EQT’s Path to Net Zero Plants Trees Rather Than Buys Carbon Credits”
ESG | Industrywide Issues | Research

Penn State Says Bullying Companies to Reduce Emissions Works
November 19, 2024November 19, 2024

Some interesting research coming from Penn State (and Binghamton University). A paper recently published in the Journal of the Association of Environmental and Resource Economists found that companies contributing the greatest pollution and emissions were more committed to reducing pollution because they faced greater public scrutiny and risked being labeled as “greenwashers” — entities that make false claims about their environmental impact. In other words, public shaming and bullying (our words) make companies change their behavior. But there was another finding that equally intrigued us… Read More “Penn State Says Bullying Companies to Reduce Emissions Works”
Energy Companies | Energy Services | ESG | Industrywide Issues | NFG Midstream | Seneca Resources

Seneca Resources, NFG Midstream Recertified as Responsible
October 31, 2024October 31, 2024

Two different subsidiaries of National Fuel Gas Company (NFG), Seneca Resources (shale driller) and National Fuel Gas Midstream Company (gathering pipelines), were certified by two different certification authorities, MiQ and Equitable Origin, respectively. Yesterday, NFG announced both companies have been recertified by their respective authorities. Everyone is still responsible. 🙂 Read More “Seneca Resources, NFG Midstream Recertified as Responsible”
Energy Companies | EQT Corp | ESG | Industrywide Issues

EQT Hits “Net Zero” Scope 1 & 2 Emissions Targets Early
October 24, 2024October 24, 2024

Yesterday, EQT announced that the company had reached so-called “net zero” emissions for Scopes 1 and 2 more than a year earlier than planned. The milestone includes assets purchased and added to the company from Alta Resources and Tug Hill/XcL Midstream. However, it does not include the assets added from the Equitrans Midstream merger in July. The company has replaced over 9,000 pneumatic devices, electrified its fracking fleet, and implemented new technologies to monitor methane emissions. According to EQT, it has paid off. Read More “EQT Hits “Net Zero” Scope 1 & 2 Emissions Targets Early”
ESG | Industrywide Issues

Law Firm Predicts “Natural Gas is Not Going Away”
October 21, 2024October 21, 2024

Net zero is a goal to balance the amount of so-called greenhouse gases (GHG) emitted into the atmosphere with the amount removed. Mythical net zero can be achieved by reducing emissions and removing carbon from the atmosphere. One of the ways net zero dreamers think they can save Mom Earth is to eliminate natural gas-fired power plants and replace them with alternatives like unreliable solar and wind. According to an article by law firm Spilman Thomas & Battle, PLLC, “The primacy of natural gas is not likely to change soon.” Translation: Natgas isn’t going anywhere. Read More “Law Firm Predicts “Natural Gas is Not Going Away””
ESG | Industrywide Issues

MiQ Certifies Europe’s Largest LNG Terminal, Helps US Exporters
October 9, 2024October 9, 2024

MDN reported a few weeks ago that EQT Corporation, now the U.S.’s second-largest natural gas producer (following the merger of Chesapeake Energy and Southwest Energy to form the country’s largest producer), was about to ship a fully-MiQ-certified LNG cargo to Germany (see EQT Provides MiQ-Certified LNG Cargo to Europe in World First). MiQ is an independent methane emissions measurement and certification authority. MiQ’s certification is (so far) the only one that satisfies the EU’s new regulation requiring tracking methane emissions in the energy sector. Now comes word that MiQ is certifying Europe’s largest LNG import facility, which is located in the U.K. Read More “MiQ Certifies Europe’s Largest LNG Terminal, Helps US Exporters”
Electrical Generation | ESG | Industrywide Issues | Research

Net Zero Creates “Crippling” Energy Costs with No Enviro Benefit
September 20, 2024September 20, 2024

Net-zero energy policies in the Pacific Northwest will produce staggering (“crippling”) costs to individuals and businesses without providing any meaningful environmental benefits, warns a monumental new research report from Discovery Institute’s Reasonable Energy program. “The effects on your monthly electric bill are going to absolutely devastating,” says economist and report author, Jonathan Lesser. “The average person is going to see their electric bill balloon 450% by 2050. Small business owners won’t escape, they’ll see their bills going from an average of $600 a month today to almost $4,000 in the next 25 years.” Read More “Net Zero Creates “Crippling” Energy Costs with No Enviro Benefit”
CNG/LNG | Energy Companies | EQT Corp | ESG | Exporting | Industrywide Issues

EQT Provides MiQ-Certified LNG Cargo to Europe in World First
September 19, 2024September 19, 2024

In May, the socialists of the European Union (EU) adopted into law a new regulation aimed at tracking and reducing methane emissions within the energy sector (see MiQ Claims Its Cert the Only One to Meet New EU Methane Regs). The onerous new reg introduces new requirements for measuring, reporting, and verifying methane emissions. The reg mandates operators to measure emissions at the source and submit monitoring reports verified by independent bodies. If drillers, including those from the Marcellus/Utica, want to export LNG to any country that’s part of the EU (many M-U drillers export LNG to Europe), they must comply with these crazy new regs. According to MiQ, an independent methane emissions measurement and certification authority, its certification is the only one that satisfies the EU’s new regulation. EQT, the largest natural gas producer in the U.S. (exclusively working in the M-U), uses MiQ and is about to send an LNG cargo to Germany as a test of the MiQ certification system. It’s a worldwide first. Read More “EQT Provides MiQ-Certified LNG Cargo to Europe in World First”