MVP Testing Showed 70 Potential Flaws, 15 Sections Cut & Replaced
On May 1, a section of the Mountain Valley Pipeline (MVP) near Roanoke, VA, failed (ruptured) during pressurized water testing conducted to ensure that there were no leaks or flaws (see Section of MVP Ruptures Near Roanoke Under Water Pressure Test). All testing was temporarily stopped. We have several updates: (1) Since the May 1 rupture, MVP has replaced and retested the affected section, along with restarting tests on other sections. (2) On Friday, May 10, the Virginia Department of Environmental Quality (DEQ) cited MVP for environmental violations. And (3) A recently obtained report filed by MVP with the federal PHMSA shows there were 70 “indications” or signs of possible flaws with the pipe after an in-house evaluation late last year. After investigating those flaws, 15 sections were cut out and replaced.
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Is there a crack of light, a sliver of hope, that a bill passed by both the New York Assembly and Senate to ban carbon dioxide “fracking” will NOT be signed into law by New York’s left-leaning Governor, Kathy Hochul? The bill was passed by the Senate on March 20 after already passing in the Assembly (see 
Last week, in reporting on pipeline giant Williams’ first quarter 2024 update, we told you about a major new project Williams has begun to replace (upgrade) 112 mainline compressor units with state-of-the-art low-emission turbines and electric drive units on the Transco and Northwest Pipe (see 
In December 2022, Rice Acquisition Corp II, a special purpose acquisition company (SPAC) started by the Rice brothers (Danny, Toby, and Derek), announced a deal to acquire NET Power — an electric power developer with revolutionary new technology to capture every last molecule of carbon dioxide from natural gas-fired power plants (see 
In March, Pennsylvania Gov. Josh Shapiro traveled to Scranton, PA, to announce a proposal to “immediately pull Pennsylvania out of a multi-state carbon cap-and-trade program” (the so-called Regional Greenhouse Gas Initiative, or RGGI) and instead enroll PA in its very own RGGI-like carbon tax program (see 
American LNG exports are a true success story. We have shale drilling to thank for LNG exports. The U.S. went from importing LNG a few short years ago to exporting 11.9 billion cubic feet per day (Bcf/d) of LNG in 2023. But baby, you ain’t seen nothin’ yet! U.S. LNG exports in 2024 are forecast to hit an average of 14 Bcf/d. And because of facilities currently under construction or will soon be under construction, U.S. LNG exports are forecast to hit an average of 25 (!) Bcf/d by 2028, some 80% more than this year!
MARCELLUS/UTICA REGION: Biden bribes PA voters with $17 billion; OTHER U.S. REGIONS: The LNG industry has revived my community; NATIONAL: Trump vows Day One executive order targeting offshore wind; We are not prepared to meet rising energy needs; Biden is not refilling the Strategic Petroleum Reserve; Geothermal energy talk rises to the surface at OTC; INTERNATIONAL: New Bloomberg study warns of $150 oil.
The Bidenistas at the EPA attacked coal and gas-fired power plants in April, threatening to destabilize the existing electric power grid with new regulations (see 
This story gets a little complicated, but we’ll do our best to explain. The Algonquin Gas Transmission (AGT) pipeline (owned by Enbridge) transports up to 3.09 Bcf/d through 1,131 miles of pipeline. Algonquin connects to Texas Eastern Transmission (TETCO), Millennium Pipeline, and Maritimes & Northeast Pipeline and supplies New England with critically needed natural gas supplies for power generation and consumer use. Anti-fossil fuel fanatics who see carbon dioxide molecules under every rock and lurking in every shadow claim a tiny upgrade to an AGT regulating station (costing $15.7 million) in Connecticut is part of Enbridge’s Master Plan to expand AGT throughout the region. Led by the radicals of the Sierra Club, protesters will hold a meeting on Thursday to oppose the upgrades to a regulating station that does nothing more than aim to keep the gas reliably flowing through existing pipes.
According to recently released data, water sales for fracking activities throughout Westmoreland and its neighboring counties represent only a tiny portion of what is distributed daily to local residential, commercial, and industrial customers. Municipal Authority of Westmoreland County (MAWC) said water purchased by local energy companies, which includes shale and conventional drillers, accounts for just 4% of the more than 11.5 billion gallons that were sold over the preceding 12 months. Whoops! Another lie of the environmental left — that fracking is soaking up all of our precious water supplies — is now exposed.
Every four years, the Pennsylvania Public Utility Commission (PUC) must approve plans by PECO, Pennsylvania’s largest electric and natural gas utility, delivering power to nearly 1.7 million electric customers and more than 545,000 natural gas customers in southeastern Pennsylvania. The plans under review are for how PECO, a fully regulated utility, will procure (buy) electricity for the next four years. In February, PECO filed its 1,235-page purchase plan with the regulators. The company plans to do what it has been doing (i.e., what’s been working), which is to obtain the least expensive electric supply and purchase 8% of its power from renewable sources, including 0.5% of solar energy generated within the state. Anti-fossil fuel nutters are having a cow, demanding (they always demand) that PECO buy far more unreliable renewable electricity, skyrocketing the cost to consumers.
Last week, the Baker Hughes U.S. rig count lost another two rigs, down to 603, the lowest the count has been since January of 2022. Since last October, the national count had gone as low as 616 and as high as 629, and that was it — a fairly narrow band. That is, until three weeks when it crashed through the floor and went lower, down to 613. Then, two weeks ago, it was down to 605. And now, it has gone even lower, down to 603. Will we see it go lower than 600?
The NYMEX futures price for natural gas has been trending higher lately. It closed down a nickel on Friday, but overall, the trend has been up, up, and away. Since price is so important, we cover the topic frequently. Lately, we’ve made the following points (in various posts): (1) Natural gas production is declining, thanks to drillers like EQT, Chesapeake, and Antero curtailments. (2) LNG export demand is increasing with Freeport back online and a couple of new plants coming online soon. Both of those factors combine to drive the price higher. However, there’s another factor at work to keep prices lower.
Former President Donald J. Trump met with members of the oil and gas industry last month at his Mar-a-Lago estate. According to snitches at the event, after one of the O&G big whigs complained about Biden’s attack on the fossil fuel industry, DJT made them all a deal: Raise $1 billion for his reelection campaign and on “Day One” of a new term, DJT will set about fixing the damage done by Biden to the industry. Sounds like a good deal to us!