NY’s Green Laws Forcing Gas Customers to Switch to Dirtier Oil
Their policies and laws of the left end up costing the average person big money and result in the opposite of what those policies and laws were intended to produce. New York Governor Kathy Hochul and her predecessor, Andrew Cuomo (both far-left Democrats), have shoved the Big Green agenda down the throats of New Yorkers for years. Their laws and policies have sought to eliminate the use of natural gas and force the use of electricity as the preferred energy source instead. Here’s a concrete example of how those policies have produced the exact opposite of what they profess to seek. The New York Post has an article about a New York City landlord forced to give up clean, efficient natural gas to heat his apartment building and switch to burning far-dirtier fuel oil instead. Why? Because Hochul’s policies (and Consolidated Edison’s complicity with those policies) have forced the price of using natural gas to skyrocket. Read More “NY’s Green Laws Forcing Gas Customers to Switch to Dirtier Oil”
OTHER U.S. REGIONS: Behind the oil industry’s biggest divorce – Chevron vs California; NATIONAL: How a ‘cow fart’ vaccine could help tackle climate change; House passes bill blocking future presidents from banning oil drilling without approval; The trillion-dollar A.I. data center tsunami – coming to a field near you; INTERNATIONAL: Activist Elliott said to build stake in struggling oil major BP; Taiwan looks to buy Alaskan natural gas as it seeks to head off US tariffs. 
For the week of Jan 27 – Feb 2, the number of permits issued in the Marcellus/Utica to drill new shale wells recovered from the previous week. Two weeks ago, only 7 new permits were issued. Last week, the number increased to 22 new permits issued. Whereas the Keystone State (PA) issued no new permits two weeks ago, PA issued 13 new permits last week. Six of those permits went to Apex Energy in Westmoreland County. Five permits were issued to EQT (Rice Drilling) in Greene and Lycoming counties. And two permits went to Expand Energy (Chesapeake) in Bradford County. 
We previously reported that INR (Infinity Natural Resources), which drills exclusively in the Marcellus/Utica region, floated an initial public offering (IPO) that brought in money on the high end of expectations and that the newly issued stock immediately started trading some 10% higher (see 
The Ohio Department of Natural Resources (ODNR), Division of Oil and Gas Resources Management, is about to fly drones equipped with magnetometers to sniff out orphaned oil and gas wells in Van Wert County. The ODNR previously completed drone flights in Auglaize, Hancock, Mercer, and Wood counties. The ODNR issued a press release to inform (warn) about the upcoming flights, no doubt to prevent the mass hysteria we’ve seen in recent months about drone flights along the Eastern seaboard. 
Do the editors of the Wall Street Journal read Marcellus Drilling News? No, we don’t expect they actually do. Although the editorial published by the editors of the WSJ on Feb. 4 looks like it could have been written by your humble MDN editor—because it says all the things we’ve said for months about Pennsylvania Governor Josh Shapiro and his attempt to blame the PJM Interconnection grid for causing high electricity prices that have, in reality, been caused by Shapiro and his “green” policies. 
We spotted some news on the investor website GuruFocus that surprised us. Major investment firm Wellington Management Group made “a significant” addition to its portfolio by acquiring 10,406,240 shares of Coterra Energy on Jan. 31. The company paid $27.72 per share, a $288 million investment. But that’s not the biggest surprise. Wellington already owned a significant number of shares. With the addition of the recent 10.4 million shares, Wellington now owns 81,616,253, or 11.1% of Coterra’s total shares. Wellington is one of the largest investor/owners of Coterra Energy. 
At the end of the last legislative session in December, New York Gov. Kathy Hochul, an extremist liberal, signed into law a new climate bill forcing a short list of Big Oil companies to pay $75 billion in “recovery” assessments over the next 25 years for their alleged role in causing mythical global warming (see 
We’ve been pretty hard on Equinor since 2018 when Statoil changed its name to Equinor, apparently ashamed of being associated with the term oil (see 
Two weeks ago, MDN brought you the news about a mind-blowing announcement from the White House that OpenAI (ChatGPT), SoftBank, and Oracle have pledged to spend $500 billion (with a “b”) to build new data centers to support artificial intelligence (see 
Yesterday, Rising Phoenix Capital, an investment firm specializing in oil and gas royalty acquisitions, announced the launch of the La Plata Peak Income Fund, a $20 million royalty fund. Rising Phoenix is looking for investors to buy into the fund. Once the company hits its target (maybe before), it will go on the hunt for mineral rights and royalty rights to buy from individuals and companies. Rising Phoenix’s royalty division has previously done a number of deals in the Marcellus/Utica (
The oil and gas business is still a great place to get a job. A high-paying job. However, knowing what kinds of companies to contact and what kinds of jobs are available at those companies can be a challenge. Rigzone President Chad Norville recently highlighted some of the latest U.S. oil and gas hiring trends his organization has noticed. He says larger producers are taking a “wait and see” approach to new hiring right now, but medium and smaller producers are fast-tracking new projects and actively hiring. So perhaps focus your search on the medium and smaller producers. 
The chickens are coming home to roost for Venture Global, an LNG export company that uses loopholes and excuses to avoid selling LNG cargoes to the companies that signed contracts to buy those cargoes. The company recently launched an initial public offering (IPO), hoping to raise $2.3 billion (see