Equitrans Says an Act of Congress is Best Way to Finish MVP Pipeline
Yesterday Equitrans Midstream, the builder and majority owner of the Mountain Valley Pipeline (MVP) project, issued its third quarter 2022 update. The big news (for us) was that Thomas F. Karam, CEO of Equitrans, said that if the 95% complete MVP is going to get finished, it’s probably going to take an act of Congress to do it. The same three clown judges (our words) of the 4th Circuit Court of Appeals are signaling they will continue to block MVP, says Karam. In contrast to the clouds over MVP, yesterday’s update shared a bit of good news for a second Equitrans project.
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You know what kneecapping is, right? It happens when a gangster or thug uses a handgun (or baseball bat) to shoot someone in the knee, inflicting permanent, lifetime damage. It’s a very cruel form of punishment inflicted on one’s enemy. It’s also an apt metaphor for what is coming under the so-called Biden Inflation Reduction Act (IRA), the renamed version of what had been called Build Back Better, made possible by a single vote from U.S. Senator Joe Manchin (see
Late last week, both the Federal Energy Regulatory Commission (FERC) and the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) held a conference call with Freeport LNG to discuss progress being made in restoring the 2.1 Bcf/d LNG export facility back to full working order. Freeport experienced an explosion and fire in early June (see
The Pennsylvania Dept. of Environmental Protection (DEP) has, for a second time, served a notice of violation (NOV) of the PA Clean Streams Law to Pennsylvania General Energy (PGE) for causing sediment pollution in the Loyalsock Creek north of Montoursville (Lycoming County). PGE is constructing a natural gas pipeline, a freshwater pipeline, and it withdraws fresh water for Marcellus Shale-related activities at the site.
For some time, we’ve been sounding the alarm about a coming change at the Securities and Exchange Commission (SEC) that will force publicly traded companies to disclose mythical greenhouse gas emissions data (see
As we mentioned yesterday, House Bill (HB) 1059, 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, was approved by a Senate committee and is on a fast track to becoming signed into law (see
U.S. Senator Joe Manchin, Democrat from West Virginia, ended his political future when he sold out the country by voting in favor of the misnamed Inflation Reduction Act (IRA), which is actually a mini-Green New Deal bill (see
The clown judges who occupy the U.S. Court of Appeals for the Fourth Circuit (4th Circus) appear ready to reject another water permit granted by the West Virginia Dept. of Environmental Protection to cross streams and rivers and swamps to finish up the 94% complete Mountain Valley Pipeline (MVP). Three judges from the 4th Circus were appointed back in 2017 to hear appeals against the project. All three are profoundly bigoted and prejudiced against natural gas pipeline projects.
Two days ago, we told you that Pennsylvania Gov. Tom Wolf and Republicans from the state legislature are reportedly working hard on a “massive development package” of tax credits that would, among other things, encourage MORE natural gas development in the Keystone State (see
Cheniere Energy, the largest LNG exporter in the U.S., recently made a major error in judgment and a misstep that threatens the company, in our humble opinion. Cheniere, via its Sabine Pass and Corpus Christi LNG facilities, exports more than 50% of all U.S. LNG exports, and more than 10% of all LNG exports worldwide. In fact, only the country of Qatar (Qatar Petroleum) exports more LNG than does Cheniere Energy. Last week Cheniere announced it has voluntarily joined the Oil and Gas Methane Partnership (OGMP) 2.0, a United Nations Environment Programme’s (UNEP) oil and gas methane emissions reporting and mitigation initiative. This is bad news.
This is a sad and very angering tale. During the Trump administration, we were close to granting waivers for the Jones Act and its archaic restrictions on transporting LNG via ships that are not U.S.-built and crewed (see
It seems the Bidenistas have tried every bad energy policy idea in the book to lower the cost of energy. They’ve looked at price caps, export bans, tapping the strategic petroleum reserve, and begging OPEC. None of it has worked. At the risk of helping the Bidenistas (whom we want tossed from office), there is an easy fix to the current energy crisis: Support the domestic oil and gas industry. Showing support for our oil and gas industry will build investor confidence and calm markets. But don’t hold your breath that Biden will actually reverse course and begin to support oil and gas.

Republicans in the Pennsylvania Senate have, since April 2021, refused to appoint new members to the five-member Public Utility Commission (PUC) in response to Democrat Gov. Tom Wolf’s unilateral push to force the state to join the Regional Greenhouse Gas Initiative (RGGI) carbon tax scheme (see 