Fitch Solutions’ BMI Predicts Big Increase Coming in Henry Hub Price
BMI, a Fitch Solutions company, recently provided a price forecast for the Henry Hub gas price all the way out to 2028. BMI’s forecast is much rosier than others we’ve read. The U.S. Energy Information Administration (EIA) recently predicted the Henry Hub price will average under $3/MMBtu in both 2024 and 2025. BMI, on the other hand, predicts the HH to hit an average of $3.40/MMBtu this year and $3.60 next year. Their lips to God’s ears!
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OTHER U.S. REGIONS: Chicago to consider an ordinance banning natgas in new buildings; NATIONAL: When it comes to climate warming, cow burps are no joke; CO2 is not pollution, it’s the currency of life; Furnaces are blasting, but natural gas prices keep falling; Kennedy warns DOE Secretary new rules will crush U.S. natgas; INTERNATIONAL: John Kerry’s climate-change flop; New route for LNG carriers; OPEC vs. IEA … who to believe on oil demand forecasts?
Here’s a story we became aware of several weeks ago but have not shared until now because we could not (still cannot) confirm some of the details. A tractor trailer hauling compressed natural gas (CNG) “from Pennsylvania” crashed into a low bridge in Glenville (Schenectady County), NY, near Albany, on Thursday, Dec. 21. The driver said he did not see the height warning signs and the top of the trailer hit a railroad bridge, exploding. The resulting fireball was some 200 feet high. The driver was seriously injured with third-degree burns and airlifted to Westchester Medical Center for treatment.
PJM is the largest electric grid operator in the U.S. It serves 65 million people in 13 states plus the District of Columbia (including PA, OH, and WV). PJM came under withering criticism for an almost blackout during the cold Christmas snap of December 2022. If not for certain gas-fired peaker plants, like that in the Little Town of Bethlehem, the lights would have gone out during that brutal cold snap (see 
In November, the Municipal Authority of Westmoreland County (MAWC) issued a water conservation warning asking more than 56,000 MAWC customers to conserve water due to the lack of rainfall and the low level of the Beaver Run Reservoir (see 
The American Energy Alliance and the Committee to Unleash Prosperity recently sponsored a survey of 1,600 likely voters equally divided among eight “battleground” states (Georgia, Pennsylvania, Wisconsin, Arizona, Nevada, Michigan, Missouri, and Ohio) conducted by MWR Strategies in December 2023. The total sample margin of error is 2.45%. The survey results confirm that there has been little change in sentiment and attitudes on energy and climate change. Many of the responses in the survey are either consistent with or more emphatic than what they found in previous surveys.
Well, that didn’t take long. Yesterday we told you about the huge jump in the price of natural gas, both the futures price and the spot (physically traded) price, due to the brutal cold snap much of the country is currently experiencing (see 
In November 2022, one of the ten natural gas storage wells at the Equitrans Rager Mountain Gas Storage Area in Jackson Township, Cambria County (in Pennsylvania), began to leak. Equitrans is the owner/operator of Rager Mountain. The well leaked roughly 100 million cubic feet per day (MMcf/d) of gas into the atmosphere (see 
Only in the mind of twisted leftists does this make sense. New York State is energy-hungry. Yet our state “leaders” demand we begin to phase out the one source of energy that provides something like 90% of all energy in the state: Natural gas and oil. You have to replace all that energy somehow. The answer for home heating, in the minds of leftists, is to drill geothermal wells. The state is *requiring* the state’s seven largest utilities to launch at least one geothermal project (and up to five such projects) to get the ball rolling. So here’s what happens. Instead of a gas driller drilling one well that produces enough energy for thousands of surrounding households, geothermal drillers must drill hundreds of wells (400 in our example below!) to produce enough energy for a few dozen households, plus some businesses. Same darned hole in the ground, yet if it’s for natural gas or oil drilled in the countryside where nobody sees it, it’s Satanic. But, drilling several hundred of the same holes in the ground for geothermal — in densely populated urban neighborhoods — is angelic. How do you figure, New York State?
LS Power, headquartered in New York City, has developed or acquired 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. We’ve previously mentioned LS Power in a number of MDN articles (
Rigzone asked several U.S.-based oil and gas recruitment experts what themes will dominate oil and gas recruitment this year. What kind of job opportunities will American oil and gas provide this year? One respondent said jobs will continue to be field engineering and specialist roles, jobs not requiring degreed engineers or geoscience professionals. What about drilling specialists, tool pushers, etc.?
One of our favorite Marcellus/Utica people is Nick Deiuliis, CEO of CNX Resources. Apart from Nick’s great work in leading CNX, he is also a writer and thinker. Like a few others, he understands political and philosophical issues related to energy. And Nick isn’t afraid to “say it straight.” Nick is in the process of releasing three videos called “A Rational Thinker’s Guide to Climate Change and Related Policies.” We previously brought you Part 1, Diagnosing the Problem and Issue (see