PA DEP Recruiting Companies to Help Plug Orphan Wells
The prospect that the federal government may soon lavish trillions of dollars on the states (the Dems’ way of buying votes with the unfortunate result of causing hyperinflation) has states, especially those with Democrat governors, salivating. Pennsylvania Gov. Tom Wolf is positively giddy at the prospect. Tommy has talked to his good buddy Patty (McDonnell, Secretary of the Dept. of Environmental Protection) about all the gajillions of dollars that will flow to the Keystone State when Biden and the Dems finally (someday) pass their budget-busting bills. McDonnell has some plans for some of that money. He is beginning to recruit companies to help plug old abandoned oil and gas wells across the state.
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Even the Joe Biden-controlled U.S. Energy Information Administration (EIA), which remains our favorite government agency although it’s now tainted with Bidenistas, can’t cover up the truth. The truth is this: By 2050 the world’s energy supplies will still mostly come from fossil fuels. The latest annual International Energy Outlook for 2021 issued by the EIA yesterday shows by 2050 so-called renewables (solar, wind, hydro) will provide around 27% of the world’s energy, nuclear another 3%, and the rest–coal, oil, and natural gas–will provide 70% of the world’s energy. Can we once and for all drop this idiotic meme that “renewables” are about to replace fossil fuels “in the next few years”?
OTHER U.S. REGIONS: Hull Street Energy buys Connecticut natural gas-fired plant; NATIONAL: USA shale cos to see minimal expansion despite rally; DOE invests $45M to decarbonize natgas power and industrial sectors; Henry Hub physical flows hit 13-year highs amid rising LNG exports; Solar and wind alone can’t meet growing power demand; INTERNATIONAL: Aramco fights Apple for most valuable company prize.
Yesterday as Pennsylvania Attorney General Josh Shapiro falsely accused Energy Transfer (ET) of “crimes” while building the Mariner East 2 (ME2) pipeline, another bit of news about ME2 played out in the state’s court system. The PA Supreme Court agreed to hear a case in which several Big Green groups and a long-time anti-fossil fueler are demanding ET pay them back for legal fees in a lawsuit initiated by them against ET, a lawsuit they ultimately lost. Talk about arrogant.
Natural gas futures jumped to the highest settlement price in 12 years–$6.31/MMBtu–as global gas supply shortages stoke concerns about U.S. shortages coming this winter. Spot prices for physically traded gas also jumped yesterday. The NGI Spot Gas National Avg. was up another 32.0 cents to $5.970. Overall production dipped a bit yesterday helping to feed the fears.
On Monday the Pennsylvania Senate Community, Economic & Recreational Development Committee together with the Senate Environmental Resources & Energy Committee held a joint hearing on consumer and economic impacts of failing to invest in Pennsylvania’s natural gas infrastructure. Strong views were aired. State Sen. John Yudichak, chairman of the Economic Development Committee shared a startling and disturbing fact…
Yesterday Antero Resources announced the publication of its 2020 ESG Report (environmental, social, governance) highlighting a focus on People, Performance, and Purpose. The report details Antero Resources’ ongoing commitment to the communities in which it operates, safe operations, environmental excellence, and strong governance. Frankly, we could care less about ESG programs–an attempt to impress people who will never be impressed with the extraordinary efforts made by fossil fuel companies to respect the environment. What caught our eye in Antero’s report is the amount of money the company invested in West Virginia and Ohio, where it drills for liquids and gas.
Last week Pennsylvania issued just 8 new permits for Marcellus/Utica drilling, down a bit from previous weeks. Ohio issued 10 new permits. We don’t often see Ohio issue more permits in a week than Pennsylvania. Finally, West Virginia issued just 1 permit for new shale drilling last week.
Headquartered in Fort Worth, Texas, Holland Services provides (used to provide) abstract and title examination services for the oil and gas industry. Holland maintained a large regional office in Washington, PA. A press release issued by the U.S. Department of Labor says the DOL has finally, after more than six years of endless lawsuits, forced Holland to pay back wages totaling $43 million owed for overtime to some 700 PA workers. As a side benefit the DOL has driven Holland into bankruptcy–the cherry on top for antis infesting the government agency.
In October 2020 the Sisters of the Corn (our name for a group of leftist nuns in Lancaster County, PA) filed yet another frivolous lawsuit against Williams over a pipeline that crosses their land–a pipeline (Atlantic Sunrise) that has been up and running for years (see 
In July, American Energy Partners, Inc., a diversified energy company, announced it had agreed to acquire a privately held energy services company operating in Ohio, Pennsylvania, and West Virginia. The company being purchased focuses on reducing customers’ environmental footprint through the decommissioning, abandonment, and reclamation services of oil and gas assets. Yesterday American Energy announced the deal is now done, so they can now name the company purchased: Unlimited Energy Services, LLC.
Could the current high price of natural gas, and the trading of natural gas, lead to a financial markets meltdown? Er, perhaps not right now, but if the price continues to climb out of sight, who knows? Reuters is reporting top commodity trading houses are being told by brokers and exchanges to deposit “hundreds of millions of dollars” in extra funds to cover their exposure to soaring gas prices. The good news (for now) is that most of them have the cash to do it.