HEP Gathering Pipeline in NE Pa. Gets a New Canadian Owner
Howard Energy Partners (HEP) is a midstream/pipeline company that owns and operates natural gas and crude oil pipelines, natural gas processing plants, refined products storage terminals, deep-water dock and rail facilities, fractionation facilities, hydrogen production facilities, renewable diesel logistics facilities, and other related midstream assets in Texas, New Mexico, Oklahoma, Pennsylvania, and Mexico. The company owns more than 600 miles of natural gas gathering pipelines with some 100+ of those miles located in the PA Marcellus. Yesterday, Alberta Investment Management Corporation (AIMCo) announced it has purchased a controlling interest (87%) in HEP. AIMCo is the new owner.
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Once a month, the analysts at the U.S. Energy Information Administration (EIA) grab the official Henry Hub pricing dart board and play a quick game to determine what price they will predict for the average Henry Hub spot price for natural gas for the rest of this year, and an average price for all of next year. Two months ago (in September), EIA predicted in its Short-Term Energy Outlook (STEO) that the Henry Hub average price for natural gas in the fourth quarter of this year would hit $9/MMBtu, and the average for all of 2023 would be around $6/MMBtu (see 
Bloomberg is reporting that “sources” are chattering that Dominion Energy, the majority owner of Cove Point, Maryland, LNG export facility with a 50% stake in the plant, is considering selling its stake. In July 2020, Dominion sold its natural gas pipeline business along with a 25% stake in Cove Point to Warren Buffett’s Berkshire Hathway (see 
Anti-fossil fuelers continue to pressure the Pennsylvania Dept. of Environmental Protection (and Pennsylvania itself) over the grievous sin of approving the Shell ethane cracker plant project (see 
The oil and gas industry has had enough of Joe Biden’s unprovoked and vicious (we’d call them irrational) attacks. Biden demands more drilling, and the next day he says he’ll ban drilling. Biden says Big Oil is making too much money, then threatens to end the use of all fossil energy. Biden routinely does this Dr. Jekyll and Mr. Hyde routine. Recently, Secretary of Energy, Jennifer Granholm, held private talks with Big Oil about low inventories of heating fuel and diesel. “The tone was cordial,” say those who participated. The very next day, Mr. Hyde turned up to blast away at “outrageous” profits in the oil industry, demanding companies lower prices at the pump. Big Oil has had enough and is speaking out.
Just 30 fossil fuel companies account for “nearly half” of so-called planet-warming methane emitted by the world’s energy sector. That’s according to a new analysis by Global Energy Monitor. And get this, only three of the 30 are American fossil fuel companies. And those three are WAY down the list. The #1 leakiest methane emitter on the planet is the National Iranian Oil Company. The #2 biggest emitter is Gazprom (Russia). And #3 is China Energy. In fact, the top 10 biggest methane emitters are located in the Middle East, China, or Russia. All of them are enemies of the United States.
A group of so-called environmental organizations that are IRS tax-exempt is really nothing more than a political front for the Democrat Party. We’re talking about PennEnvironment, Conservation Voters of Pennsylvania, and the odious National Resources Defense Council (NRDC), three groups that have collectively poured nearly $5 million into advertisements this election cycle supporting the anti-drilling, anti-fracking, anti-Marcellus Josh Shapiro. Why these organizations are still tax-exempt is a mystery to us, as they are completely partisan (Democrat), a violation of the federal tax code.
We continue to be impressed with CNX Resources and its CEO Nick DeIuliis. CNX and the CNX Foundation are having a huge impact on the southwestern Pennsylvania (and tri-state) region where the company operates. In the past, we’ve told you about CNX and the work it is doing supporting underserved communities and populations in the tri-state region with $30 million in donations (see 
Anti-fossil fuel zealots in Massachusetts are taking aim at a small “peaker” power plant that would generate up to 55 megawatts of electricity purely as a backup. The plant will be off most of the time, yet antis are attacking the plant like it’s radioactive. The small peaker plant is planned for Peabody, MA. The ultramodern plant (very low emissions) would be located next to two older peaker plants. Yet antis claim (falsely) that it will exacerbate problems in that region that “already experience higher rates of cancer, chronic kidney disease, chronic obstructive pulmonary disease, coronary heart disease and stroke.” A fake report from the Massachusetts Climate Action Network says the peaker, which will be off most of the time, will make it worse for those living in the region.
Pennsylvania House Bill (HB) 1059 is legislation to provide $142 million annually in state tax credits for several purposes, including clean hydrogen hubs, use of natural gas, semiconductor manufacturing, and milk processors. HB 1059 was approved by both the state Senate and House last week and sent along to Gov. Tom Wolf for his signature (see 
In June, seemingly out of nowhere, a plan to build an LNG export facility on the banks of the Delaware River south of Philadelphia made big headlines in Philly (see