New England is Headed for an Avoidable Electricity Supply Crisis
New England is heading for an energy disaster. It’s easy to predict. The latest analysts to look at the coming disaster are the sharp folks at RBN Energy. Their language is a bit more diplomatic than our blunt statements, but the conclusions are the same: New England is screwed. Royally. And it’s only a matter of time before massive blackouts begin in the region.
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Last year after the shocking news that U.S. Senator Joe Manchin (from West Virginia) had sold out his state and the entire country by agreeing to support the misnamed Inflation Reduction Act (IRA) bill, the details began to come out about just how bad this bill really is for the oil and gas industry. First and foremost, it slaps a new tax on oil and gas activities (see 
U.S. energy officials from some of the largest U.S. shale drillers had a private dinner last night with the tyrants and dictators of OPEC at CERAWeek in Houston. The annual confab between our shale drillers and OPEC is something of a tradition now (this is the fifth year it has taken place). Not much is known about the discussions at the meeting since it was private. However, Devon Energy CEO Rick Muncrief summarized the main takeaway as a general concern there is very little extra capacity in world oil markets right now.
NATIONAL: USA drops more rigs; The Inflation Reduction Act is very good at one thing; NH’s methane-powered T6 tractor hits the market; INTERNATIONAL: Chevron CEO says natgas markets fundamentally changed by war; GALACTIC: The first 3D printed rocket.
Last week MDN told you about a presentation by the Muskingum Watershed Conservancy District (MWCD) to the Ohio Oil & Gas Land Management (OGLM) Commission, a commission established years ago to lease state-owned land for shale drilling (see 
Indian-American Vivek Ramaswamy, the conservative co-founder of the anti-ESG Strive Asset Management investment company (based in Ohio), delivered a rousing speech over the weekend at the annual Conservative Political Action Conference (CPAC) in Washington, D.C. In his speech, Ramaswamy said he would pull the U.S. out of the “religion” of climate cultists who insist that carbon dioxide is a pollutant and that we must end the use of fossil energy. As an added bonus, Ramaswamy said if elected, he would end American businesses doing business with and in China.
The Bidenistas have taken notice that shale companies are beginning to use various private NGOs to certify the production of natural gas as responsible. There are currently four such independent certification authorities. The effort is picking up steam, and the Bidenistas don’t like the fact they are not in control. They can’t call the shots and determine what is and what is not “green enough” for them. So the Bidenistas are “holding talks” to try and establish a national (international) standard. Are they talking to the existing four certification authorities? No. They’re talking with “global energy companies and foreign officials in an effort to set standards for certified natural gas.” Yeah, the Bidenistas are talking with our competitors and our enemies to establish a new standard. Typical.
Spanish-owed Repsol owns 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. Early last year (in January 2022), Repsol closed on a deal to buy Rockdale Marcellus out of bankruptcy for $222 million, adding Rockdale’s acreage and wells to Resol’s portfolio (see