EIA Predicts Record High U.S. LNG Exports in 2021/22
The U.S. Energy Information Administration (EIA) is forecasting that U.S. natural gas exports will exceed natural gas imports by an average of 11.0 billion cubic feet per day (Bcf/d) in 2021, or almost 50% more than the 2020 average of 7.5 Bcf/d. Increases in liquefied natural gas (LNG) exports and increases in pipeline exports to Mexico are driving the growth in U.S. natural gas exports. EIA also says U.S. natural gas exports will continue to grow throughout 2021 and 2022, exceeding the record of 14.4 Bcf/d set in 2020. This spells opportunity for M-U drillers.
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OTHER U.S. REGIONS: El Paso natural gas pipeline segment shut Monday after deadly blast; NATIONAL: IPAA joins API, other oil & gas trade associations in lawsuit over illegal federal leasing ban; Natural gas price forecast – natural gas shoots straight up in the air.
The Federal Energy Regulatory Commission (FERC) has disregarded the petulant demands of anti-fossil fuel fanatics and has given its permission to Mountain Valley Pipeline (MVP) project to switch the method it uses to cross 136 streams and 47 wetlands. For roughly 70 miles of the pipeline’s 303-mile route, MVP asked FERC in early February to change the method of installation from open trench to trenchless, drilling under the body of water using horizontal directional drilling (see 
In a second victory for Mountain Valley Pipeline (MVP) over the past week, a federal judge rejected a request by a Virginia landowner for emergency power to block construction of MVP across the landowner’s property on Bent Mountain. Last week we told you the landowner claimed blasting and construction for the pipeline on his property could “explode the headwaters of Bottom Creek.” We noted the same landowner has been suing to block MVP on his property since at least early 2019. The judge told him that her court was not the proper jurisdiction to resolve the dispute.
In February of this year, PTT Global Chemical adamantly claimed a final investment decision (FID) to build the $10 billion ethane cracker plant project in Belmont County, OH would happen by “middle of 2021” (see 
When CNX Resources issued its second quarter update in July, the company revealed that it is not only “net carbon zero” right now, it has been that way–actually net carbon negative, pulling more CO2 out of the atmosphere than it puts in–since 2016 (see 
A new report (full copy below) commissioned by the American Petroleum Institute (API) and undertaken by PricewaterhouseCoopers (PwC) has found the oil and natural gas industries directly or indirectly supported over 188,000 jobs in Pennsylvania in 2019, or 6.1% of the total share of commonwealth employment. Furthermore, the oil and gas industries produced $14.2 billion in labor income, which was 7.9% of the state total share, and had a statewide economic impact of $31.9 billion, for 9.7% of the state total share. The percentages for the impact of oil and gas on the West Virginia economy are similar.
In February 2020 we told you about a mob of anti-fossil fuelers attempting to block the final few feet of construction for a 6.8-mile natural gas pipeline stretching from Brownsville to North Brooklyn in New York City (see 
Ascent Resources, originally founded as American Energy Partners by gas legend Aubrey McClendon, is a privately-held company that focuses 100% on the Ohio Utica Shale. Ascent is Ohio’s largest natural gas producer and the 8th largest natural gas producer in the U.S. The company issued its second quarter 2021 update earlier this week. The company produced 1.95 billion cubic feet equivalent per day (Bcfe/d) during 2Q (91% natural gas). Ascent generated $38 million of free cash flow, but like other M-U drillers, hedging bets on derivatives resulted in a big loss of $617 million for the quarter.
In an effort to flow more Marcellus natural gas to a starving New York City, Kinder Morgan cut a deal with utility company Consolidated Edison in 2019 to provide more gas by beefing up capacity along its Tennessee Gas Pipeline (TGP) that feeds NYC, allowing Con Ed to avoid cutting customers off from natgas hookups (see 
Somehow the U.S. Environmental Protection Agency (EPA) thinks it can tell the Federal Energy Regulatory Commission (FERC) what it can and can’t do with respect to evaluating pipeline projects. EPA is “advising” FERC to begin incorporating the “social cost of carbon” into its environmental reviews, taking an added look at the climate change impacts of natural gas infrastructure projects. Who the heck does the EPA think it is? Climate God?
The latest weekly Enverus U.S. rig count shows total rigs in use hitting a new post-pandemic high. For the week ending August 12, the rig count stood at 617, up 14 rigs from the previous week. That’s the highest rig count since April 2020. The Marcellus play lost another rig from the previous week (second week in a row), while the Utica stayed even. Collectively the M-U is currently running 44 rigs, down one rig from the previous week.
The price of gasoline at the pump in the U.S. is up a full dollar over the past year. Even half-with-it politicians like Joe Biden knows high pump prices equal rebellion at the ballot box. Biden killed the Keystone XL pipeline on his first day in office. Then he blocked new drilling on federal lands. Biden’s disastrous picks to run Interior, Energy, EPA, and FERC are killing the fossil fuel industry here at home. Oil production is tanking. So how does old dementia Joe propose to “fix” high prices at the pump? How will he fix the mess he’s made? Biden goes begging, hat in hand, to the vicious tyrants that run OPEC+ (America’s enemies), begging them to pump more oil to drive down gas prices. What a pathetic dope. Not even the weak, genuflecting American Petroleum Institute (API) can stomach Biden’s OPEC+ begging.