Bottom Drops Out of Natural Gas Price as Weather Forecast Warms
While the commodity price of natural gas has always drifted up and down, we can’t remember a time (in our coverage of the industry) when it has been so volatile–with wide swings in both directions–as it has been in 2022. Yesterday was another “bottom is dropping out” down day when the NYMEX futures price at the Henry Hub fell by $0.52. The NYMEX price has fallen three days in a row and is down a total of $1.64 (or 23.6%) over those three days.
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Unlike the Delaware River Basin Commission (DRBC), which gets the creepy crawlies at the mere mention of the word “fracking,” the Susquehanna River Basin Commission (SRBC) has been dealing with fracking and water requests for use in fracking for more than a decade. Somehow the SRBC, a quasi-governmental agency (as is the DRBC), manages to allow fracking, and there are NO negative impacts on local water and NO negative impact on the Susquehanna River and its tributaries. Must be the people who run the SRBC are just more talented than those who run the DRBC.
The Freeport LNG export terminal, located in Quintana Island, Texas, has been offline and not producing LNG since early June due to an explosion (see 
The International Energy Agency (IEA) is at it again. In May 2021, IEA issued an astonishing report calling for an end to all investments in oil, gas, and coal to reach the fantasy goal of net zero by 2050 (see 
NATIONAL: Timing is everything for Gulf Coast gas producers, LNG offtakers; The domino effect of President Biden’s war on oil and gas; INTERNATIONAL: Exxon avoiding tankers that previously transported Russian oil; China buys a record amount of Russian LNG; Explainer: How natural gas is traded in Europe.
You may want to consider moving out of New York State if you still live here. The state has collectively lost its mind. NY political leaders are so consumed with hatred of fossil fuels they are about to force its residents to pay an average of $28,000 to convert their homes away from heating and cooking with natural gas, propane, and fuel oil (see 
Earlier this week, MDN told you that the Pennsylvania Dept. of Environmental Protection (DEP) announced a consent order assessing a $600,000 fine against a trucking company that hauled drill cuttings from West Virginia to PA and dumped them (without a permit) at several sites owned by the trucking company (see 
Industrial Energy Consumers of America (IECA), a trade group representing some of the biggest consumers of energy in the U.S. (i.e., manufacturers), wrote a letter to the governors of 12 states along the Eastern Seaboard asking those governors to prioritize natural gas pipelines in their respective states (full copy of the letter below). Recipients included Pennsylvania, West Virginia, and (falling on deaf ears) New York and New Jersey. According to the letter, manufacturing companies along the East Coast face growing natural gas scarcity due to the lack of interstate natural gas pipeline capacity.
Two weeks ago, the Bidenistas announced their latest “we hate fossil fuels” initiative–forcing all new or newly renovated federal buildings to use electricity for heat beginning in 2025. Here’s one of the dumbest statements ever uttered by a sitting Secretary of Energy: “Ridding pollution from our buildings and adopting clean electricity are some of the most cost-effective and future-oriented solutions we have to combat climate change.” Yeah, Jennifer Granholm called heating with natural gas and fuel oil “pollution.” That’s how nutty and wacky the left has become. The Bidenistas say this move to all-electric will save taxpayers millions of dollars. It will do the complete opposite.
We spotted an op-ed appearing on The Hill website running under the title, “Natural gas and permitting reform are critical to a clean energy future.” The article was written by Chad Zamarin, board chairman for the Interstate Natural Gas Association of America (INGAA) and senior vice president of corporate strategic development for pipeline giant Williams. In the op-ed, Zamarin defends natural gas against false claims that methane and pipelines are “obsolete and environmentally detrimental.” He states flatly that natural gas “must be part of a low-carbon energy future.”
Last week U.S. Senator Joe Manchin, from West Virginia, made another attempt to “shock” his permitting reform bill, a bill that would allow the Mountain Valley Pipeline (MVP) to finish up more quickly, into life (see 
A new paper from Net Zero Watch (copy below) illustrates how climate alarmists are waging psychological warfare on the public. The alarmists are being funded by American billionaires and aided by psychologists who are advising alarmist groups that fear tactics are a useful tool to use on people. Psychologists using fear to manipulate the public is a gross breach of ethics–they should be decertified and prosecuted.
Last Thursday, residents who live near a natural gas compressor station in Brooke County, WV, asked WV Dept. of Environmental Protection (WVDEP) officials to address pollution and noise from the facility before recommending it for a permit from the U.S. Environmental Protection Agency (EPA). The facility is owned by Appalachian Midstream Services, LLC, which we discovered (after a great amount of digging) is a subsidiary of Williams. Nearby residents from both WV and Pennsylvania (which is located a few hundred feet away) showed up to ask questions about, and point out problems with, the Mountaineer Compressor Station, which has been online since March 2021. The compressor is also located less than five miles from the border of Ohio (the northern Panhandle area of WV).