Treasury Dept Issues 9 Commandments to Banks re Net-Zero Policies
The Bidenistas at the Dept. of Treasury want banks and asset managers to sign on to the lunatic “net-zero” pledge to reduce the mythical increase in global temperatures to no more than 1.5 Celsius by 2050. The way to do it, according to the climate hucksters, is to limit methane and carbon dioxide emissions. In other words, quit burning and using fossil fuels. It’s pure insanity, but this isn’t the first time in world history humans have engaged in mass insanity. Back to center… Yesterday, the Treasury Dept. published?the “Principles for Net-Zero Financing & Investment” report, a document with nine principles (i.e., commandments) that Treasury and the Bidenistas say are voluntary for banks and asset managers to follow. In reality, they are requirements. Banks will disobey at their own peril.
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In May, the Bidenistas at the EPA released a hellscape of new regulations (681 pages) aimed at forcing coal- and natural gas-fired power plants to close (see 
NATIONAL: Changes in U.S. residential natural gas prices lag spot prices; US pipeline regulator awards $15 million grants to improve safety; INTERNATIONAL: “We need to get on with fracking” – Liz Truss; Who produced the most natural gas in 2022?; Europe remains stuck in Russia’s stronghold.
Commonwealth LNG is developing a 9.3 MTPA (million tons per annum) liquefied natural gas (LNG) export terminal project located on the Calcasieu River in the Gulf of Mexico near Cameron, Louisiana. Commonwealth anticipates a final investment decision for the project in the first quarter of 2024, with the first cargo deliveries expected in 2027. According to an announcement yesterday, just over 10% of the gas that will get liquefied and exported will come from EQT Corporation’s Marcellus/Utica operations.
Have we finally turned a corner? Hit rock bottom and have begun a rebound? We are referring to the Baker Hughes U.S. rig count. Last Monday, we reported the weekly rig count had finally gained a rig–the first time since June (see 
Dominion Energy, a huge utility company headquartered in Richmond, Virginia, recently revived a plan to build four small “peaker” electric generating plants in Chesterfield County, VA, a Richmond suburb (see 
Last week, MDN tracked a story that developed all week long. The Freeport LNG export facility, located on Quintana Island along the Texas Gulf Coast (south of Houston), is the second largest LNG export facility currently in operation. When operating at full capacity, Freeport can export 2.1 billion cubic feet per day (Bcf/d) of liquefied natural gas–roughly 20% of the U.S.’ entire LNG export output. A little over a week ago, the facility experienced some sort of issue (Freeport has been silent and refuses to respond), reducing output, at one point, to zero (see 
Everyone is telling the Bidenistas at the Environmental Protection Agency (EPA) the same thing: Dump the faulty regulations you composed at the last minute that will result in closing most (if not all) of America’s natural gas-fired power plants. The latest group to tell (off) the EPA is a coalition of 87 businesses and associations from multiple states–including Pennsylvania and Ohio. Among the groups in the coalition are the Pennsylvania Independent Oil & Gas Association (PIOGA), the American Petroleum Institute — both the Pennsylvania and Ohio chapters, and the Ohio Oil & Gas Association. The coalition represents millions of people.
There’s some major corruption going on in the world of the left, and it got exposed last Wednesday at a Congressional hearing on Capitol Hill. The House Committee on Oversight and Reform held the hearing, chaired by Rep. James Comer (Republican from Kentucky). It was a hearing about a distortion of the justice system called third-party litigation funding (TPLF). It is the practice of a party with no direct stake in a lawsuit funding the plaintiff and the plaintiff’s lawyers as they pursue litigation. Example: billionaires like Michael Bloomberg and Big Green groups (funded in part by foreign countries like China and Russia) paying for lawyers for smaller green groups and mom-and-pop plaintiffs to repeatedly sue the oil and gas industry to block drilling and pipelines, or to force a change in regulations. There are, believe it or not, investment funds set up to invest in lawsuits! And the investors (the people with the money) can control whether or not the plaintiffs they are backing can or cannot settle the lawsuit. It is no longer about justice but about money. It is a GROTESQUE bastardization of the entire justice system. And it MUST STOP.