NERC Worried About Having Enough NatGas Supplies THIS Winter
In a statement issued last week, the North American Electric Reliability Corporation (NERC) said it “remains concerned about maintaining sufficient natural gas supplies to address extreme winter conditions” for this upcoming winter heating season. In a “Statement on Criticality of Natural Gas this Winter” (full copy below), NERC noted that next month marks the one-year anniversary of the FERC/NERC/Regional Entity staff report on Winter Storm Elliott—a wide-area extreme cold event that affected states in the Eastern Interconnection from Georgia to Maine and from Nebraska to Pennsylvania. The primary cause of that almost-outage was, says NERC and the report, reduced production (freezeoffs) at Marcellus/Utica wells. Read More “NERC Worried About Having Enough NatGas Supplies THIS Winter”
Net-zero energy policies in the Pacific Northwest will produce staggering (“crippling”) costs to individuals and businesses without providing any meaningful environmental benefits, warns a monumental new research report from Discovery Institute’s Reasonable Energy program. “The effects on your monthly electric bill are going to absolutely devastating,” says economist and report author, Jonathan Lesser. “The average person is going to see their electric bill balloon 450% by 2050. Small business owners won’t escape, they’ll see their bills going from an average of $600 a month today to almost $4,000 in the next 25 years.” 
NATIONAL: USA EIA drops WTI oil price forecasts; Kerry says oil industry yet to prove carbon capture viable; Rystad estimates 400 additional LNG vessels needed; Activist organization tallies up cases, omits losses; US shale gas growing source of shipping, trucking fuel; Natural gas, LNG positioned to help address power demand, decarbonization; Chevron opts against US LNG plant investment in favour of direct gas sales; INTERNATIONAL: ING stops funding pure-play upstream firms. 
In January, Chesapeake Energy, now helmed by Nick Dell’Osso, announced a deal to buy out and merge with competitor Southwestern Energy for $7.4 billion (see 
WhiteHawk Energy, headquartered in Philadelphia and owning mineral and royalty interests for over 1 million gross unit acres with over 3,400 producing horizontal shale wells between the Marcellus and the Haynesville, announced yesterday the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for an undisclosed amount. The deal added 435,000 gross unit acres across southwestern Pennsylvania and northern West Virginia. 
Yesterday, Appalachian Regional Clean Hydrogen Hub (ARCH2) leadership team members presented an update on the ARCH2 initiative and its current status. Among the big news from the event was that ARCH2 is looking “for up to three” new projects that would be built in southwestern Pennsylvania, West Virginia, or eastern Ohio as part of the ARCH2 initiative. The new projects would replace several that are no longer part of ARCH2. 
In May, the socialists of the European Union (EU) adopted into law a new regulation aimed at tracking and reducing methane emissions within the energy sector (see 
Toby Rice, CEO of EQT Corporation, currently the largest natural gas producer in the U.S., spoke yesterday at the Gastech event in Houston. Rice expressed his view that the Henry Hub price for natural gas will remain below $3/MMBtu “in the short term.” He also had thoughts on how long companies like his will continue to curtail natgas production. Rice said curtailments will “ease by next year” when more LNG exports begin to pick up. Said another way, Rice expects to continue holding back at least some supply for the balance of this year. 
Here’s a new concept for some (including us): Have you ever heard about the “heat content” of energy like natural gas? Heat content is the amount of heat energy available to be released by the transformation or use of a specified physical unit of an energy form, like how much heat a cubic foot of natural gas produces when burned. Depending on where you go, the heat content of natural gas varies. A recent analysis by the U.S. Energy Information Administration (EIA) shows that Texas has some of the lowest heat content, and West Virginia has some of the highest. 
Chesapeake Energy has gone through some major changes over the past four years. In June 2020, Chessy declared bankruptcy (see 
Yesterday, the Pennsylvania Senate approved Senate Bill (SB) 1058 that would repeal the state’s participation in the so-called Regional Greenhouse Gas Initiative (RGGI), an illegal carbon tax enacted via executive order by then Gov. Tom Wolf in 2019 (see 
An extensive article appearing in Mountain State Spotlight, a liberal publication aimed at publishing “sustained outrage” stories about happenings in West Virginia, boldly proclaims, “The natural gas boom was supposed to bring prosperity to West Virginians in poverty. That didn’t happen.” The article focuses on several individuals who are living (metaphorically) without a pot to pee in, claiming natgas was supposed to make them fat, dumb, and happy but didn’t. So why didn’t that happen?