FERC Tweaks Price Indices Hoping to Encourage More Reporting
Natural gas pricing for both the physically traded and financially traded contracts is an interesting beast. Both the buyers and sellers of natural gas for both physical and financial trades are “encouraged” (but not required) by the Federal Energy Regulatory Commission (FERC) to report their trades (how much was offered, how much asked, final deal amount) to Price Reporting Agencies (PRAs), including the venerable Natural Gas Intelligence (NGI), S&P Global Commodity Insights (formerly Platts), OPIS, Argus, ICIS and others. In recent years the number of self-reported trades has decreased, calling into question the accuracy of trade information and the indices and averages upon which billions of dollars of deals are based. Last week FERC finalized a new policy aimed at promoting physical natural gas price indexes and improving transparency, ultimately encouraging more self-reporting.
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It’s a sad day in Pennsylvania. Gov. Tom Wolf and his patsy at the Dept. of Environmental Protection, Sec. Pat McDonnell, have finally prevailed and will publish a final version of new regulations forcing the state to join the so-called Regional Greenhouse Gas Initiative (RGGI)–a carbon tax that is about to unleash economic hell on PA. The final step before RGGI, a $2.6 billion tax on PA’s electric ratepayers over the next ten years, becomes a defacto new law is for the final version of the regulation to be published in the Pennsylvania Register. Tomorrow’s edition will carry the RGGI regulation (full preview copy below).
Has there been a more dysfunctional White House than the Biden White House…ever? No, there hasn’t. While Joe Biden mouths words (that someone has written for him, appearing on a teleprompter) supporting natural gas and encouraging more natgas exports to help Europe, the Biden EPA and others in the administration (see today’s story about the haughty John Kerry) attack natural gas, calling for programs to phase out its use here in the United States. We’ve given up trying to understand psychotic leftists. There is no understanding and reconciling “drill more to help our allies” with “but we’re going to ban its use here at home.”
In a new attack from the Bidenistas, the haughty John F. Kerry (the definition of a D.C. swamp dweller) threatened the entire natural gas industry in an interview yesterday with his fellow lefties at Bloomberg. The uber-arrogant Kerry put the natural gas industry “on notice” that it has a maximum of 10 years to figure out how to trap every last molecule of escaping methane and every last molecule of carbon dioxide post-combustion–or the industry will suffer a total and sudden death. The political intelligentsia will demand the execution of natgas (maybe even those who extract and flow it) no later than 10 years from now. According to Kerry, this is how it works in Amerika, land of the enslaved and home of the coward.
In January 2020, President Trump announced a list of proposed changes to the 50-year-old National Environmental Policy Act (NEPA) in an effort to strip away some of the governmental red tape that has built up over the years like plaque in an artery, preventing important infrastructure projects like pipelines, dams, bridges, and roads from getting built (see 
West Virginia Senator Joe Manchin, a Democrat, has (for months) forcefully pushed the issue of completing the 94% done-and-in-the-ground Mountain Valley Pipeline (MVP) project, a 303-mile pipeline from WV into Virginia. In early March Manchin let all five Federal Energy Regulatory Commission (FERC) commissioners know of his displeasure that MVP, along with other pipeline projects, is delayed (see 
A story out of Port St. Joe, Florida, involving LNG, caught our attention for a couple of reasons. Nopetro LNG plans to construct and operate as many as three liquefaction trains that will liquefy up to 3.86 billion cubic feet per year of natural gas for export and delivery to markets in the Caribbean, Central America, and South America. That’s 3.86 Bcf for an entire year, not per day. Modern facilities that export LNG from the Gulf Coast, like Sabine Pass, export close to 4 Bcf per day. The facility proposed by Nopetro is minuscule in comparison. It will receive natural gas from St. Joe Natural Gas Company Inc. Nopetro recently asked the Federal Energy Regulatory Commission (FERC) to declare that it (FERC) does not have jurisdiction and regulation over such a tiny facility. FERC agreed!
We didn’t see this one coming! Must be the intense pressure from U.S. Sen. Joe Manchin on the Federal Energy Regulatory Commission (FERC) had the intended effect (see 
The main reason Pennsylvania Gov. Tom Wolf wants to force his state (against the will of a majority of residents) to join the Regional Greenhouse Gas Initiative (RGGI), a carbon tax, is that it will supposedly cut down the state’s emissions of carbon dioxide (CO2), which is supposedly causing Mom Earth to toast (see 
The Barack Hussein Obama administration went crazy with over-regulation in many areas. One of them was to redefine “waters of the United States” (or WOTUS) as everything down to, no exaggeration, mud puddles (see 
We spotted two different articles published over the past couple of days about the recently nixed Marcellus LNG export plant that was planned for Wyalusing (Bradford County), PA (see 
New York’s corrupt Governor, Kathy Hochul, learned well from her mentor, sexual predator (and extremely corrupt) Gov. Andrew Cuomo, when it comes to forcing her will on the citizens of New York. Cuomo snuck a permanent fracking ban into the state budget two years ago (see