Biden Treasury Dept. Ruins 45V “Clean” Hydrogen Tax Credit
On Jan. 3, the Biden IRS issued its final clean hydrogen tax credit rule, otherwise known as the 45V Clean Hydrogen Production Tax Credit. We previously wrote about 45V back in June (see Biden IRS 45V Tax Rule Endangers Hydrogen Hub Projects in M-U). Our take back then has not changed with the release of the final rule. The 45V tax credit, part of the misnamed Inflation Reduction Act (IRA), can only be used if the hydrogen produced is “green” — meaning NOT made from natural gas. In addition, the electricity used to produce the hydrogen can’t come from fossil fuel sources like natural gas (if you want the tax credit). From what we can tell, nothing changed between then and now, other than allowing coal-mine methane to qualify for the higher tax credit. Read More “Biden Treasury Dept. Ruins 45V “Clean” Hydrogen Tax Credit”
RBN Energy recently concluded a two-part series on LNG delays and what’s causing delays in bringing more export capacity online. Friday’s Part 2 of the series looks at recent court rulings and regulatory issues and their impact on U.S. LNG development. Yes, Joe Biden’s ill-timed “pause” on the Department of Energy issuing new export approvals certainly had a big impact (see 
Not only did New York Gov. Kathy Hochul, an extremist liberal, sign a ban on using carbon dioxide to frack wells in the state at the last minute before the end of the current legislative session (see 
At the end of December, Venture Global’s Plaquemines LNG export facility officially shipped its first cargo…to Germany. Unfortunately for Venture Global’s contracted customers, they will have to wait to receive their legally contracted shipments. Venture Global has admitted it will (as it has with the its Calcasieu Pass facility) pretend the Plaquemines LNG is not “commercially ready,” allowing the company to cream the market and make more money for the first couple of years (see 
OTHER U.S. REGIONS: Shale executives raise bar to boost gas drilling, survey says; Don’t block the will of voters on natural gas; NATIONAL: Zeldin’s EPA confirmation hearing scheduled, radicals get shrill; US oil growth slows as gas takes the lead; Enbridge preps pipeline buildout for Trump-driven drilling boom; Trump unveils ambitious 100-executive order plan focusing on border, energy; INTERNATIONAL: USA ramps up pressure on Russia with fresh energy sanctions; Crude oil market has come alive. 
For the week of Dec 30 – Jan 5, permits issued in the Marcellus/Utica rebounded from holiday lows. There were 30 new permits issued last week, up from just 12 issued the week before. The Keystone State (PA) issued nine new permits, with six going to Range Resources in Allegheny County and three to EQT, split between Lycoming and Washington counties. 
On June 14, 2024, the 303-mile Mountain Valley Pipeline (MVP) that runs from Wetzel County, WV, to Pittsylvania County, VA, announced the pipeline had, after a decade of planning and building, finally begun to flow Marcellus/Utica molecules (see 
We never cease to marvel at the genius of the oil and gas industry and those who seek to find better ways to drill. According to an Oil and Gas Investor article examining major shale play trends, drillers across the Lower 48 are drilling U-shaped double-long laterals, finding lower-cost new-well inventory in the acreage they already hold. And they’re doing it “problem-free.” Did you know there are two U-shaped wells in our region? There’s one in the Pennsylvania Marcellus (in Susquehanna County) and one in the Ohio Utica (Belmont County). Who knew?! 
Last August, MDN told you that the Appalachian Regional Clean Hydrogen Hub (ARCH2) officially received its first $30 million from the Bidenistas (see 
Last Friday, Republican Congressman August Pfluger (from Texas) introduced a new bill that will prevent any future president from banning fracking nationally without the consent of Congress. Pfluger’s “Protecting American Energy Production Act” would explicitly require an act of Congress to impose a fracking moratorium and prevent the president from doing so directly. We must ensure future administrations don’t repeat the catastrophic damage inflicted by the Bidenistas over the past four years. This is a good first step. 
Elections certainly do “have consequences,” as Lord Obama once famously said. Less than two months after Donald J. Trump won the election and Republicans won both houses of Congress, the six largest banks in the U.S. all withdrew their membership in the United Nations Net Zero Banking Alliance (NZBA), with the largest bank, JPMorgan Chase, leaving earlier this week (see 
The end of the year and the beginning of a new year are times when many publications reflect on what was and what may be. A recent article by Hart Energy’s Oil and Gas Investor magazine tackled the topic of what may lie ahead for the Marcellus/Utica region over the next couple of years. The article looked at two primary issues—the potential for more pipelines getting built within (and out of) our region and the likelihood of more mergers and acquisitions for drillers in our region. 
Last fall, MDN began tracking the issue of who, ultimately, should pay to build out new electricity sources for data centers (and AI) that increasingly use huge amounts of power (see 
The Pittsylvania County Planning Commission voted on Jan. 7 to recommend against granting Virginia-based Balico permission to proceed with a $8.85 billion project to build a data center complex. Last October, Balico applied to rezone more than 2,200 acres for a proposed campus that would include its own massive on-site gas-fired power plant complex using Marcellus/Utica molecules from the Mountain Valley Pipeline (see 
Last October, Shell signed an agreement to buy 100% of RISEC Holdings’ 609-megawatt (MW) two-unit combined-cycle gas turbine power plant located near Providence, Rhode Island (see