With Carbon Credits Scam Exposed, Big Names (Like Shell) Exit Market
Last Friday, MDN told you about a new Cambridge University study published in the journal Science exposing the sale of carbon credits as a scam (see Cambridge Study Finds Carbon Offsets Using Trees is a Scam). Now that the carbon credit scam has been exposed, big companies like Shell, Nestle, and Gucci are exiting the market–refusing to spend money on pretend solutions to global warming. The word is out: The carbon credit emperor has no clothes!
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New shale permits issued for Aug 21 – 27 in the Marcellus/Utica decreased once again. Up down, up down, up down. That’s what it feels like. There were 16 new permits issued last week, down nearly half from the 27 issued the prior week. Last week’s permit tally included 11 new permits in Pennsylvania, 5 new permits in Ohio, and no new permits in West Virginia (WV has issued no permits in four of the last five weeks). The top permittee for the week, for the third week in a row, was Chesapeake Energy, receiving 5 permits–1 in Bradford County and 4 in Sullivan County.
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Two weeks ago, MDN editor Jim Willis offered the opinion that PTT Global Chemical is not going to build an ethane cracker plant in Belmont County (see 
Funny how a couple of miles can make all the difference. In West Deer, a township in Allegheny County, PA (near Pittsburgh), Olympus Energy faces organized opposition to every project it proposes. Some Olympus well pads get approved, and some don’t. Every Olympus pad is vigorously opposed by anti-fossil fuelers. Yet in the township immediately next door, Frazer (also Allegheny County), Range Resources appears to have no opposition. We hope we don’t jinx it for them! Range has just received a permit for the company’s fifth multi-well pad. No hew and cry from the crazy left–no nothing. Just business as usual.
The old Energy Harbor coal-fired power plant in Pleasants County, WV, which had been offline since June 1 and was scheduled to be demolished, has roared back to life under new ownership. Omnis Fuel Technologies invested $800 million to restart operations at the plant, which is now back online and producing electricity. Omnis’ plan is to transition the plant, renamed to Quantum Pleasants, to use hydrogen instead of coal.
UGI, a diversified energy company with midstream (pipeline) operations in the Marcellus and one of PA’s largest utility companies, is looking to sell or spin off its propane subsidiary into a new company. UGI’s propane subsidiary is AmeriGas, the nation’s largest retail propane marketer, serving nearly 1.3 million customers in all 50 states from approximately 1,400 locations. This is pretty big news in our book.
Last week, MDN told you about the third and final public hearing held by the Pennsylvania House Philadelphia LNG Natural Gas Export Task Force (see 
Hurricane Idalia made landfall in the “big bend” region of Florida on the morning of Aug. 30 as a Category 3 storm, then lost speed as it crossed the state, downgrading to a Category 1 as it pushed into Georgia, knocking out power to hundreds of thousands of customers and reducing power and natural gas demand along with power prices. One of the consequences of the storm was/is an impact on the shore of Georgia, where the Elba Island LNG export facility is located. While we don’t have a post-storm update (yet), we can tell you that the Marcellus/Utica flowing to Elba Island was reduced by roughly 30% going into the storm.
A couple of major changes to alert you to at the Pennsylvania Public Utility Commission (PUC). The PUC is the public utility commission in Pennsylvania. The PUC has five commissioners appointed by the Governor with the consent of the state Senate. The PUC oversees public utility and services operations in the Commonwealth, in sectors including water, energy, telecommunications, and transportation. The decisions made by the PUC impact the Marcellus/Utica–particularly pipelines, including the Mariner East pipelines. Consequently, any changes at the agency are of concern. This week, the PUC got a new Chairman and a new commissioner, both Harrisburg swamp dwellers, appointed by Gov. Josh Shapiro and confirmed by the Republican-controlled state Senate.
A Repsol well located on a pad in Troy (Bradford County), PA, experienced uncontrolled natural gas venting. The situation began around 4 p.m. Sunday, Aug. 27. It continued to vent “sporadically” until about 2:30 a.m. on Monday, Aug. 28. Repsol called the state Dept. of Environmental Protection (DEP) to report the situation at 2:02 a.m. on Monday. A DEP inspector was at the site within hours, at 5:55 a.m. The venting caused a brief evacuation order for several homes within a half-mile radius of the well pad, which was lifted hours later when the DEP determined the venting had stopped.
Last week, MDN brought you information about what happens next when (not if) the mighty 303-mile Mountain Valley Pipeline gets completed (see 
Equitrans Midstream, the builder of the 303-mile Mountain Valley Pipeline (MVP) project, proposed to extend the pipeline by an extra 75 miles from the current terminus in Pittsylvania County, VA, to Alamance County, NC, to provide natural gas for heating and electric generation. The extension is called MVP Southgate. In typical fashion, Democrats oppose it (see 
Pennsylvania Gov. Josh Shapiro’s administration is once again signaling its intent to block shale drilling in certain regions of the state by using a new “environmental justice” (it’s racist to drill there) policy. We told you about Shapiro’s intent two weeks ago when the state Dept. of Environmental Protection (DEP) issued new so-called environmental justice (EJ) policies to go into effect in September (see 
Is there now a truce in the long-running dispute between Epsilon Energy and Chesapeake Energy over drilling new wells in Susquehanna County, PA? Perhaps! Yesterday, Epsilon, a small publicly-traded energy company that joint venture partners with (gives money to) other companies, like Chesapeake Energy, with the other company doing the drilling, announced that “the operator of our upstream assets in the Marcellus recently notified us of near-term drilling plans on our acreage.” While not named, the “operator” must be Chessy. Epsilon has an ongoing lawsuit against Chesapeake for refusing to drill new wells on its jv acreage.