Billionaire Fracker Terry Pegula #160 on Forbes 400 Richest List

Terry Pegula is a billionaire who owns both the Buffalo Sabres (NHL hockey team) and the Buffalo Bills (NFL football team). Pegula is the owner of East Resources, once a big driller (and holder of acreage) in the Marcellus Shale. Pegula sold off East’s Marcellus assets and used the money, in part, to buy the Buffalo Bills in 2014, which gave rise to MDN calling the team “the Marcellus Bills”–since it was Marcellus money that kept the team in Buffalo, instead of moving to another market (see Buffalo Bills Stay in Buffalo, Thanks to $1.4B of Marcellus Money and Buffalo “Marcellus” Bills – Team Sold to Fracker for $1.4B). Yes, “dirty” fracking money saved the Bills! After selling all of East’s Marcellus assets, Pegula still had an itch to frack, so he started up a new company, JKLM, in order to keep his finger in the Marcellus/Utica pie. JKLM is, as we reported in July, fracking 12 Utica wells in Potter County, PA this year (see JKLM Drilling 12 Utica Wells in Potter County, PA This Year). Fracking is what made Pegula rich. We found it interesting that he made the Forbes 400–a list of the 400 richest people in the United States. Pegula was one of only four people who call Upstate New York home to appear on the list. Here is Pegula’s entry for the list…
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The Andrew Cuomo-corrupted New York Dept. of Environmental Conservation (DEC) on Friday filed an appeal/challenge with the Federal Energy Regulatory Commission (FERC) contesting FERC’s recent ruling that essentially emasculates the DEC regarding their rejection of a tiny pipeline project in Orange County, NY. On Aug. 30, the DEC issued a letter to FERC and Millennium Pipeline denying Millennium’s request for a water permit to build a 7.8 mile pipeline spur from the main Millennium Pipeline to a natural gas power plant under construction in Orange County (see
The Andrew Cuomo-corrupted New York Dept. of Environmental Conservation (DEC) took more than two years to evaluate and eventually reject the Constitution Pipeline–a $683 million, 124-mile pipeline from Susquehanna County, PA to Schoharie County, NY to move Marcellus gas (see
MDN editor Jim Willis lives right on the dividing line between New York and Pennsylvania–in the Binghamton, NY area (on the wrong side of the line). Pennsylvania, on the right side of the dividing line, has embraced shale drilling, and enormous economic benefits have flowed to communities where it happens. Cabot Oil & Gas alone (just one company) has spent over $4.6 billion in the last 10 years in Susquehanna County, PA (see
The Federal Energy Regulatory Commission (FERC) last week granted permission to Algonquin Gas Transmission (i.e. Spectra Energy, now owned by Enbridge) to build new pipeline infrastructure in New York State, part of the $452 million Atlantic Bridge expansion project. Atlantic bridge was approved by FERC back in January (see
Williams announced yesterday that its New York Bay Expansion pipeline project to flow an extra 115 million cubic feet per day (MMcf/d) of natural gas to New York City is now online and working. In July 2015, Williams filed an application with the Federal Energy Regulatory Commission (FERC) for the $130 million project, which will flow Marcellus gas to 500,000 additional New York City residents by the 2017/2018 heating season (see
Antis certainly learn from one another. If an anti-fossil fuel tactic works (in court) in one place, antis in other locations jump on it like white on rice. Ninny nanny antis in the Chenango Valley School District (suburb of Binghamton, NY) got their knickers in a twist when NG Advantage proposed building a “virtual pipeline” project about a mile from one of their schools. A virtual pipe is a compressor station that compresses gas from a pipeline (the Millennium in this case) and loads it onto specially fitted tanker trucks to haul the gas to industrial users. The school paid $40,000+ for an outside-the-area law firm, which sued and in a county-level court (called “Supreme Court” in quirky NY). The Big Money law firm won the case, convincing the judge to proclaim that the local planning board didn’t do a good enough job in considering NG’s application (see
Next month when New Yorkers go to the polls to cast their votes (an illusory scam in Communist NY), there will be three Propositions on the ballot. One of the three is called, “Authorizing the Use of Forest Preserve Land for Specified Purposes.” The one-paragraph description implies municipalities will have more flexibility in using “preserved” land–so long as they designate the same amount of land to be added back to the pool of preserved land. It also allows bicycle trails and public utility lines to cross preserved land. However, what the description does not say (which can be found in a full reading of the proposition) is this: the proposition “prohibits the construction of a new intrastate gas or oil pipeline that did not receive necessary state and local permits and approvals by June 1, 2016.” So no new intrastate (within the state) pipelines through preserved land, period. Ever. Even though electric lines crossing preserved land are just fine. Why is Gov. Cuomo trying to hide this from residents? Will NY residents even wake up and notice they don’t know what they’re actually voting for (or against)? That’s how sleazy politics is played in the Empire State…
For more than two years MDN has chronicled the journey of Competitive Power Ventures (CPV) to build a $900 million Marcellus gas-fired electric plant in Wawayanda, NY, called the Valley Energy Center. Early on the project faced court challenges, but a judge gave final approval to build it in September 2015 (see
This story is really rich. Consolidated Edison (ConEd) is one of the nation’s largest investor-owned energy companies. ConEd is a utility, operating in the New York City area. It is one of the largest (perhaps the largest) seller of natural gas in NYC area. In a press release that has us equally laughing and crying, ConEd floats a new plan to meet the “growing natural gas demand” it’s seeing from customers. Early in the release ConEd states the facts: “construction of new natural gas pipelines [in New York] is not keeping pace with growing demand.” Why? Because New York has a corrupt governor, Andrew Cuomo, who caters to wild radicals that give him money for his campaigns. Yes, CORRUPT. And so Cuomo issues edicts to executive agencies, like the Dept. of Environmental Conservation (DEC), to deny permits for new pipelines. Hence, NY doesn’t have enough pipelines to flow increasing demand for natural gas. ConEd just admitted that. So how does ConEd plan to solve the problem they have? Maybe anchor a floating LNG import terminal off Long Island? Nope. Virtual pipelines to haul more gas to its facilities? Nope. How about rail cars hauling CNG or LNG? Nope. Here’s the brilliance at ConEd–they want to raise everyone’s gas and electric rates so they can pay building owners to not use as much gas! What?! That’s right, ConEd has filed a rate case with the New York State Public Service Commission that requests permission to raise rates and pay people to use less natural gas. Welcome to Wonderland (i.e. New York), Alice…
In early September, a Broome County, NY judge ruled that the Town of Fenton (Binghamton area) Planning Board did not take a hard enough look at environmental and traffic issues related to their approval of NG Advantage’s plan to construct a facility in the town to compress and load natural gas onto tractor trailers for delivery to regional customers who desperately need the gas–what is called a “virtual pipeline” (see
The Andrew Cuomo-corrupted New York State Dept. of Environmental Conservation (DEC), run by NRDC gang member Basil Seggos, has just slammed the door on New York towns using brine from the Pennsylvania Marcellus. Earlier this week the DEC posted new final regulations as part of “strengthening” the state’s solid waste regulations, referred to as Part 360. Brine is another name for produced water. When you drill a hole deep in the ground, well below the water table (which sits at maybe 200 feet down), over time water from the depths (a mile or more down) will come to the surface. This is not wastewater used in fracking (called flowback), but naturally occurring water (brine). It’s called brine because it contains a lot of minerals–far “saltier” than ocean water. There are a number of ways to dispose of all that water coming out of drilled wells for years after they are drilled–dispose of it via an injection wells, recycle it, or in some cases, treat it and use it as a deicer on roadways. Many towns use brine for that purpose. The DEC’s new regulations stipulate that if a town wants to use brine from conventional oil and gas wells, that’s fine (with certain restrictions). But if the brine comes from a Marcellus Shale well–it’s banned. Keep in mind there is virtually no chemical difference between the two. Which leads us to the conclusion that this is one more very intentional swipe at the shale industry by a state that is closed for business…
As we reported in August, a Broome County, NY judge ruled that the Town of Fenton (Binghamton area) Planning Board did not take a hard enough look at environmental and traffic issues related to their approval of NG Advantage’s plan to construct a facility in the town to compress and load natural gas onto tractor trailers for delivery to regional customers who desperately need the gas–what is called a “virtual pipeline” (see 
Finally the Federal Energy Regulatory Commission (FERC) has had enough shenanigans from the corrupted New York Dept. of Environmental Conservation (DEC). In a historic, precedent-setting decision, on Friday FERC overruled DEC’s denial of a water permit for Millennium Pipeline’s tiny 7.8 mile pipeline spur from the main Millennium Pipeline to a natural gas power plant under construction in Orange County, NY. On Wednesday, Aug. 30, the DEC issued a denial letter to FERC and Millennium. In it, they claim that FERC’s review of the power plant project (that the pipeline will feed) is deficient based on a recently-decided court case about a pipeline project in Florida (see
West Virginia Dept. of Environmental Protection’s (WVDEP) capricious decision to yank a permit it previously granted for the Mountain Valley Pipeline is “the last straw” according to the legal beagles at the Blank Rome law firm. Last week WVDEP, under pressure in a lawsuit brought by the radical Sierra Club, decided to revoke a previously granted water crossing permit (see