Irony: DOJ Scuttled Halliburton/BH Merger, then Collects $11M Fine
The news is now months old that Halliburton and Baker Hughes ended their attempt to merge. The reason they called it off was because of opposition from the Obama Department of Justice (see Obama DOJ Kills Halliburton/Baker Hughes Merger, Deal “Terminated”). The companies didn’t have the stomach to go up against the bullies at DOJ. So it was the DOJ that actually killed the deal. During the process of DOJ’s review, an “activist investor” (i.e. corporate raider) by the name of ValueAct Capital snapped up $2.6 billion worth of Halliburton and Baker Hughes stock with, according to the DOJ, the intent to influence the companies’ business decisions as the merger unfolded.” The DOJ charged ValueAct “with violating the reporting and waiting period requirements of the Hart-Scott-Rodino Antitrust Improvements Act” (see DOJ Sues ValueAct Capital for Meddling in Halliburton/BH Merger). ValueAct has settled by paying $11 million in shakedown money to the DOJ to make it all go away. Which we find ironic. The DOJ killed the deal, and yet the DOJ is extracting money for the deal they killed…
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One of the opponents of new pipelines to New England has been LNG importers in the region–specifically GDF Suez importing gas at the Everett, MA LNG import terminal, near Boston (see 
In November 2015 MDN brought you a list of 36 North America drillers that had, as of that time, declared bankruptcy (see 
We can not be more crystal clear on this: a vote for Hillary Clinton is a vote to end the use of fossil fuels, and a vote to plunge our great nation into economic depression. Over the weekend the Democrat Party hashed out its official party platform–the tenants by which the party, if it should be so lucky as to hold on to power, will live by for the coming four years. The Dems are composed of radical idiots of all stripes, but some are more radical than others. The official platform calls for a tax on carbon (the stuff you breathe out with every breath) to tackle so-called (and non-existent) “climate change.” The platform also calls for a “phase down” of drilling on public lands. What the platform does not call for, however, is a total ban on all fracking. And that lack of a total ban in the official platform has set off some of the craziest of the crazies in the party. A group of them, spurred on by the odious and misnamed Food and Watch Watch, are making the rounds in Philadelphia. Near the convention center are several dozen donkey statutes, placed there in honor of the upcoming Dem convention in two weeks. So what are the FWW crazies doing? Placing piles of papier-mâché poop under the business end of the donkeys and spray painting “No ban on fracking, the Dem platform is crap.” Hilarious! We’re finally seeing the Dem party crack up and self-implode, thanks to anti-frackers…
Last week MDN reported that a previously trumpeted so-called research study of air quality near fracking sites in Ohio had been retracted (see 
In July 2012 MDN told you about a one-year study of air quality in and around Chartiers Township in Washington County, PA being conducted by the PA Dept. of Environmental Protection (see 
We’ve previously reported on a number of LNG (liquefied natural gas) export projects planned for the eastern shore of Canada. There are four to five such projects, depending on how you count them. However, one of those projects–Bear Head LNG in Nova Scotia–seems to have the most momentum. Such projects needs loads of permits and approvals before the first shovel ever hits the dirt. It seems like Bear Head has most of its ducks in row, ready to begin. Importantly, both the U.S. (because the gas will come from the U.S.) and Canadian regulators have signed off on the project. But there are, as we are learning, still more permits and approvals needed. Bear Head just scored another important approval. The government of Nova Scotia has just granted Bear Head its approval of their Greenhouse Gas (GHG) Management Plan. Silly, we know. Adults with brains have to pretend that leaking CO2 or methane into the atmosphere is somehow endangering Mother Earth. But these are the games that people play in order to get business done. The Bear Head LNG project is important for the Marcellus/Utica because our gas will feed it via the Maritimes & Northeast Pipeline, making it an important new market for northeast natgas…
PA’s very liberal Governor, Tom Wolf, has been obstinate in demanding onerous new drilling rules for the conventional, as well as unconventional (shale) drilling industry since he took office. Reworked drilling rules were done and ready to go under previous Governor, Tom Corbett. Then Corbett lost to Wolf, and Wolf demanded to change common sense rules everyone had already agreed to (see 
MDN has previously told you about the temper tantrum by radical environmentalists and the idiot kids they foment to try and get universities to divest from owning stock in fossil fuel companies. The very liberal Cornell University didn’t fall for it (see 
What happens to the regulatory environment for the energy industry, in particular oil and gas, should Donald Trump win the presidency? What if (perish the thought) Hillary Clinton wins? What can we expect under each administration? That was the theme for comments by Tom Sansonetti, partner with the Holland and Hart law firm, at the recent Independent Petroleum Association of America (IPAA) 86th Midyear Meeting, held in Colorado Springs two weeks ago. The IPAA knows a number of people could not make the meeting and wants to disseminate Sansonetti’s comments, so they sent along a copy of his “what if?” analysis. We found it interesting and think you will too…
Is this the future of engines for large gas-hauling ships? Mitsui Engineering & Shipbuilding Co. announced two weeks ago they have completed the world’s very first ethane-operated two-stroke diesel engine. The engine is one of three the company is building to power three LEG (liquefied ethylene gas) tanker ships for Hartmann Schiffahrt of Germany and Ocean Yield of Norway. The ships are being built in China. Why ethane as fuel? For one thing, it’s cheaper than heavy fuel oil (HFO), the traditional fuel source for ship engines. Plus it burns a whole lot cleaner–something increasingly important with new emissions regulations coming along. But the obvious reason is that a tanker full of ethane can always tap into that ethane as fuel for the ship, should the need arise. The Marcellus/Utica produces ethane in abundance and ethane exports now regularly take place via ship from the Marcus Hook refinery near Philadelphia. Might we one day see an ethane-powered ship hauling ethane leaving Marcus Hook for Norway? Maybe, since some of the Marcus Hook exports to date have gone to Norway (see 
The electric power and natural gas sectors are increasingly joined at the hip, as we observed in January (see 
This pipeline project has been, until now, completely off our radar screen. As pipeline projects go, it’s pretty small. But building even a single square inch of new pipeline, or expanding a compressor station, is anathema to anti-fossil fuel nutters. So we expect this project will be in the headlines starting this week, with a pair open house meetings in the Philadelphia area (and one in Delaware) where the project will get built. The project is being built by Eastern Shore Natural Gas and is called the 2017 System Expansion project. In March 2015, Eastern Shore ran a non-binding open season to see if customers want more natural gas in the Delmarva Peninsula area (includes most of Delaware and portions of Maryland and Virginia). It looks like Eastern Shore’s customers expressed enough interest that they plan to move forward with an expansion project that will bring new sources of natgas from an interconnection Eastern Shore has with the mighty TETCo (Texas Eastern Company) pipeline near Philadelphia. Below we have details on the expansion project, and details for the open house meetings scheduled for this week in PA and DE…