Shale Energy is on the Verge of Next Oil and Gas Breakthrough
Every time we read about peak oil or gas (demand or supply), or that there are no more good places left to drill for shale and drillers are now left to scrape and claw at less desirable locations, or that the decline curves are killing shale, etc. — we laugh. How many times over the years has MDN told you something along the lines of this: The shale industry is a marvel. It keeps getting better and keeps discovering new shale layers to drill, new techniques to use, and new technologies to employ. In a talk given at the University of Texas, Tim Leach, a board member with ConocoPhillips and a former Permian Basin explorer, made this prediction: Someone out in the shale world is on the verge of the next oil and gas breakthrough. Sound familiar?
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This is how lawless dictators behave. The U.S. Senate, charged with approving the people who run various governmental agencies, including the Dept. of Energy, rejected Jeff Marootian, nominated by Joe Biden to be the assistant secretary of the Dept. of Energy’s Office of Energy Efficiency and Renewable Energy (EERE). Why? Joe Manchin said Marootian wants to ban natural gas stoves by regulating them out of existence. Biden withdrew Marootian’s nomination–and then “quietly” appointed him as principal deputy assistant secretary of the EERE, where he is now the most senior person and the de facto head of the department. Lawless.
America’s natural gas and oil industry announced “a landmark partnership” in late 2017 called The Environmental Partnership to “accelerate improvements to environmental performance in operations across the country” for lowering methane emissions (see 
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.
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