Moody’s: “Vast Majority” of LNG Export Projects Will be Canceled
The analysts at Moody’s Investors Service have turned decidedly bearish on the plethora of proposed LNG (liquefied natural gas) export plants in both the U.S. and Canada. There are nearly 30 LNG export plants proposed in the U.S., 18 proposed projects in western Canada, and 4 in eastern Canada. One of them–Cove Point, Maryland, being built by Dominion–is right now in the midst of construction. The Cove Point plant will export Marcellus and Utica Shale gas to Japan and India. A number of the other LNG plants would also export Marcellus/Utica gas–in particular the four proposed plants in Nova Scotia (see Canadian LNG Exports, New England Pipelines & the Marcellus). However, according to Moody’s, the “vast majority” of proposed LNG projects, including the four in Nova Scotia, will never happen…
Read More “Moody’s: “Vast Majority” of LNG Export Projects Will be Canceled”
The Ohio Dept. of Natural Resources last week ordered the operator of five injection wells–all located in one area in Vienna Township (Trumbull County), OH–to close them all down. That somewhat radical action came following a finding that some of the frack wastewater meant to go down into the wells for injection had instead ended up in a nearby pond and wetland, contaminating both. The operator of the five injection wells is Kleese Development Associates of Warren, OH…
Some astonishing new numbers from the U.S. Energy Information Administration. For the third year in a row, when you add both natural gas and oil together, the United States has been the #1 producer of hydrocarbons in the world. But this is even more astonishing and something MDN’s friends disbelieve when we tell them: for the third year in a row the U.S. has produced more natural gas than another other country in the world (namely Russia, who is #2). And get this: for two years running the U.S. has produced more oil than any other country in the world, including Saudi Arabia. When was the last time you heard that on the evening news? Yeah, NEVER. Fracking is nothing short of a miracle that has radically changed the energy outlook of this country–and it’s a miracle that should be celebrated every chance we get. Here’s the numbers and story from the EIA with news that once again, USA is #1!!!…