Reuters is reporting that in March, U.S. LNG exports rose by 16% to a brand new, all-time high of 7.43 million tonnes. Running the calculations, that converts to 371.5 billion cubic feet (Bcf), or roughly 12 Bcf per day. Here’s a question: How much of that 12 Bcf/d that was exported comes from the Marcellus/Utica?
Read More “LNG Exports Hit Record High in March – 65% Head to Europe”
The Pennsylvania Independent Fiscal Office (IFO) is highly respected by all of PA state government. IFO’s mission is to review state budgetary policy and render expert, nonpartisan opinion. The IFO, at the request of the Republicans in the state legislature, recently reviewed Gov. Wolf’s Regional Greenhouse Gas Initiative (RGGI) modeling, presenting its findings to a joint hearing of the Senate Environmental Resources and Energy Committee and the Community Economic and Recreational Development Committee on Tuesday. The IFO report finds that the money PA will spend on emissions credits at RGGI auctions will result in most PA electric rates quadrupling. You read that right–get ready to pay 4X for electricity if RGGI goes into effect and you live in the Keystone State.
Read More “PA IFO Says Gov. Wolf’s RGGI Carbon Tax Will 4X Electric Rates”
On Wednesday, Pennsylvania House Bill (HB) 637, which would block the PA Dept. of Environmental Protection (DEP) authority to limit carbon dioxide emissions (thereby blocking PA’s entrance into the Regional Greenhouse Gas Initiative, or RGGI) passed by a vote of 126 to 72. Some 10 Democrats crossed the aisle to vote in favor of the bill. HB 637 now goes to the PA Senate for a vote. What then?
Read More “PA House Passes Bill to Block RGGI Carbon Tax – What Next?”
Two northeastern Pennsylvania State Senators, Gene Yaw and Lisa Baker, along with members of the PA Senate Republican Caucus (27 Senators in all, filed a lawsuit in January 2021 against the Delaware River Basin Commission (DRBC) over its illegal ban on fracking (see PA Senators Sue DRBC for “Taking” Property re Frack Ban). The lawsuit accuses the quasi-governmental agency of “taking” the property rights of PA residents without just compensation under the law. Unfortunately, in June 2021, a federal district court judge in Philadelphia appointed by RINO George W. Bush dismissed the case claiming the Senators, who represent people shafted by the DRBC, don’t have “standing” to bring the lawsuit (see Fed Court Dismisses PA Senate Lawsuit Against DRBC Frack Ban). Senators Yaw and Baker appealed the dismissal and yesterday a three-judge panel for the U.S. Court of Appeals for the Third Circuit heard oral arguments in the appeal.
Read More “PA Senators Argue “Standing” in Case to Overthrow DRBC Frack Ban”
In early March, our favorite government agency, the U.S. Energy Information Administration (EIA), released its “Annual Energy Outlook 2022” report (see EIA Annual Report Says U.S. O&G Use Will Grow Each Year Thru 2050). One of the main findings of this latest look forward is that the use of oil and natural gas will grow steadily and gradually from now until 2050–over the next 30 years. As part of their prediction modeling, EIA uses three scenarios or “cases”–a “reference” case (what they believe is most realistic), a low economic growth case, and a high economic growth case. EIA has just released a very interesting fourth case: What would happen if no new interstate natural gas pipelines were built from 2024 through 2050? How would that affect natural gas production and consumption?
Read More “What Happens if No New Gas Pipes Get Built in U.S. Thru 2050?”
In what appears to be an adoption of talking points from left-wing Democrats like Sen. Elizabeth “Pocahontas” Warren, the normally-balanced Wall Street Journal is blaming LNG exports for higher natural gas prices here at home. The article attempts to make the case that a gradually increasing amount of LNG exports has led to high electric prices in the U.S. The article is flawed in many ways.
Read More “WSJ Blames LNG Exports for High NatGas/Power Prices in U.S.”
PTT Global Chemical has reimbursed JobsOhio, the state’s private economic development office, $20 million for failing to make a final investment decision (FID) to build a multi-billion-dollar ethane cracker plant project in Belmont County, OH. JobsOhio paid Bechtel Corp. $20 million in 2019 to complete site engineering and site preparation for the project, with a promise from PTT that it would soon make an FID and move forward with construction. That never happened, so PTT is paying up because it didn’t live up to its end of the bargain. Interestingly, PTT maintains it is “committed to building the multi-billion dollar project.” Right.
Read More “PTT Pays JobsOhio $20M for Failing to Build OH Cracker Plant”
Pennsylvania Senate Republican leaders have asked the state’s Commonwealth Court to block Gov. Wolf’s plan to force the state to join the so-called Regional Greenhouse Gas Initiative, a $2.6 billion carbon tax on PA residents. The Senators want the court to temporarily block the publication of final RGGI regulations in the Pennsylvania Bulletin until the Senators’ full case against RGGI can be heard in court.
Read More “PA Legislators File Court Challenge to Block $2.6B RGGI Carbon Tax”
Democrats are SO predictable. They use the same playbook they’ve used for the past 50+ years. The minute they can’t defend their indefensible, nonsensical ideologies, they resort to calling their opponents bigots and sexists. It happened again Tuesday when northeastern Pennsylvania State Senator John Yukichak, an Independent who used to be a Democrat (but couldn’t stomach the extremism in the party anymore), called out PA Democrats and their environmental “hysteria” for defeating both the PennEast Pipeline project and the New Fortress Energy LNG export plant (both located in northeastern PA). Two PA Senators who happen to be women from the Philadelphia area trotted out the “he’s attacking the girls, he’s a misogynist and sexist” false claim. Typical.
Read More “PA Sen. Yudichak Calls Out Hysterical Dems at Hearing”
It’s about to get a lot harder to drill a well or build any kind of pipeline in Pennsylvania, if the swamp dwellers at the Pennsylvania Dept. of Environmental Protection (DEP) get their way. The DEP recently released a draft Environmental Justice Policy set of regulations that will empower the radical left to block new drilling and new pipelines by using claims of racism.
Read More “PA DEP Goes Hard Left with New “Enviro Justice” Policy Revisions”
Since Russia illegally and immorally invaded Ukraine on February 24, the stock price for Marcellus/Utica natural gas drillers has skyrocketed based on the fear that Russia will cut off natural gas to Europe in response to their response to the war (sanctions on Russia). The Russia/Ukraine war has stoked concerns that Europe will need much more natgas from the U.S. and therefore the U.S. will have to drill and pump more gas to supply it, making gas drillers an attractive investment.
Read More “M-U Driller Stock Prices Soar Over Past Month Based on LNG Exports”
The Appalachian Hydrogen and Carbon Capture Conference, being held in Pittsburgh on Thursday, April 21, is hosted by MDN’s good friend Joe Barone from ShaleDirectories.com. We have a couple of late-breaking announcements of topics and speakers for the event. Monolith will discuss how it uses natural gas and 100% renewable electricity in a process known as methane pyrolysis to produce carbon black and hydrogen. Westinghouse Electric will discuss its nuclear mini-reactor that can be deployed to off-the-grid sites like remote well pads to provide electricity for drilling.
Read More “Methane Pyrolysis, Nuke Micro-Reactors Coming to M-U Hydrogen Conf”
Last December the Democrats who sit on the Virginia Air Pollution Control Board rejected issuing an air permit for a compressor station in southern Virginia for the proposed Mountain Valley Pipeline (MVP) Southgate extension that will run 75 miles from Virginia into North Carolina (see Va. Board Rejects Air Permit for “Racist” MVP Southgate Pipeline). The permit would allow a compressor station to be built in the Virginia town of Chatham (Pittsylvania County). And according to critics of the pipeline, that’s just plain racist. (Who knew an inanimate object could be racist? We sure didn’t.) MVP appealed the rejected air permit with the Fourth Circuit U.S. Court of Appeals. However, MVP has now withdrawn its appeal.
Read More “Equitrans Withdraws Appeal of Rejected Air Permit for MVP Southgate”
Epsilon Energy concentrates most of its effort on the Marcellus Shale in Susquehanna County, PA. Epsilon doesn’t typically do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy, and the other company typically does the drilling. Epsilon issued its fourth quarter and full-year 2021 update last week. The company’s Marcellus net gas production was 2.6 Bcf (billion cubic feet) in 4Q21. The company generated revenues of $13.8 million during 4Q21, compared to $5.9 million for 4Q20. Realized natural gas prices averaged $3.65/Mcf including hedges, and $4.36/Mcf excluding hedges.
Read More “Epsilon Energy 2021 – Production Down 10%, Revenue Up 174%”
Radical green groups, including the Sierra Club (rumored to receive funding from Russia) continue to try and kill the already-staggering Mountain Valley Pipeline (MVP) project. The Clubbers and their colluding friends at West Virginia Rivers Coalition, West Virginia Highlands Conservancy, Indian Creek Watershed Association, Appalachian Voices, and Chesapeake Climate Action Network, have sued the West Virginia Dept. of Environmental Protection (DEP) claiming the DEP issued a key federal water permit that allows the 94% completed MVP to finish up while ignoring previous water quality violations by the builder.
Read More “Vicious Green Groups Continue to Attack MVP in 4th Circus”
Pipeline giant Energy Transfer (builder of the Rover and Mariner East pipelines here in the M-U) is planning a large-scale LNG export facility in Lake Charles, Louisiana located on the Calcasieu ship channel. The project will convert Energy Transfer’s existing Lake Charles LNG import and regasification terminal to become an LNG export facility. Yesterday ET announced it has signed a pair of 20-year deals with ENN, a Chinese company, to deliver a total of 2.7 million tonnes (mt) per year to the ChiComms (Chinese Communists).
Read More “Energy Transfer Signs 20-Yr LNG Export Deal with ChiComms”