NATIONAL: Janet Yellen: Climate change poses ‘existential threat’ to financial markets; INTERNATIONAL: European demand driving U.S. LNG exports – LNG recap; Iraq moves to exploit its massive natural gas reserves.
Read More “Other Stories of Interest: Tue, Apr 6, 2021”
Anti-fossil fuel zealots in the Pittsburgh region, including Pittsburgh Mayor Bill Peduto, continue to attack the already-approved Plum Boro wastewater injection well project. We told you in January that antis, in a final, desperate attempt, tried to convince Pennsylvania’s leftist Governor, Tom Wolf, to illegally seize powers he doesn’t have to overrule a permit issued by the state Dept. of Environmental Protection (DEP) allowing the Plum injection well to move forward (see Antis Ask Gov. Wolf to Block PA DEP Permit for Plum Injection Well). Antis are still trying to convince Wolf to do it…
Read More “Pittsburgh Mayor Peduto Attacks Plum Injection Well Plan”
Last week, after months and months of dithering around, the Ohio legislature passed a bill that overturns and rescinds House Bill (HB) 6, legislation adopted in 2019 due to $61 million in bribes spread around by FirstEnergy (see Kicking & Screaming, OH Legislature Votes to Overturn HB 6 Nuke Bill). Gov. Mike DeWine signed the new bill overturning HB 6 into law last Wednesday. HB 6 created a new tax on all Ohio electric ratepayers to funnel $150 million per year (for seven years) into FirstEnergy’s coffers in order to prop up the company’s two economically failing nuclear power plants in the state. At least, that was the reason given. Last week FirstEnergy refunded $26 million in previously collected fees back to ratepayers.
Read More “FirstEnergy Issues $26M Refund to Ohio Ratepayers re Nuke Bribes”
Talk about using a sledgehammer to kill a fly. The two U.S. Senators from Massachusetts, Elizabeth “Pocahontas” Warren and Ed “Lackey” Markey, have reintroduced a bill that would ban the use of compressor stations along natural gas pipelines if those pipelines happen to export some of the gas flowing through them to Canada or Mexico. Do these idiots understand how much gas is imported and exported with Canada and Mexico every single day? That they propose to shut down all of it, simply so they can shut down a single compressor station in Weymouth, Mass., is sick and twisted…
Read More “Massachusetts U.S. Senators Sponsor Bill to Block NatGas Exports”
Some days it’s tough. You try to keep your head held high, but then you read of someone you (used to) highly respect, someone like former Secretary of the Pennsylvania Dept. of Environmental Protection, Mike Krancer, who now supports Pennsylvania being forced to join the so-called Regional Greenhouse Gas Initiative (RGGI), which is nothing more than an obscene carbon tax that would force gas-fired power plants out of existence. Krancer bases his support on the flimsiest of excuses: That the tax revenues raised by RGGI (coming out of the pockets of ALL Pennsylvanians) will help plug a few more of the hundreds of thousands of old/abandoned conventional oil and gas wells throughout the state. Really Mike?
Read More “Former PA DEP Sec. Krancer Defects to Dark Side, Favors Carbon Tax”
The vicious, relentless attacks on our freedoms and liberties in New York State continue. We can’t even catch our breath with the assaults coming so fast and furious. The latest salvo is by NY State Sen. Jessica Ramos (Democrat, East Elmhurst) who has proposed the Clean Futures Act (S.5939) which would not only ban the permitting and building of new natural gas-fired power plants throughout the state, it would also ban “the permitting of all new major facilities that burn fossil fuels, not just those that sell power to the energy grid.” In other words, any large office building, factory, etc. that gets built would not be able to heat with natural gas or fuel oil. New York is already closed for business, can you imagine the wholesale flight from the state should this Communist law get passed?
Read More “NY Bill Outlaws New Gas-Fired Power Plants + Factories Burning Gas”
The Enverus U.S. rig count continues to climb (a good sign). For the week ending March 31, the U.S. rig count climbed another 6 active rigs to 519. The oil-focused Permian Basin and Eagle Ford Shale each added four new rigs. The Marcellus stayed even at 33 active rigs, and the Ohio Utica stayed even at 12 active rigs (although the Marcellus dry gas lost a rig and Marcellus wet picked up a rig). The other major shale gas play, the Haynesville, picked up a rig and now operates 48 active rigs.
Read More “Everus Rig Count @ 519 (+6); Marcellus @ 33 (+0), Utica @ 12 (+0)”
This is how stupid liberals are: They think banning fossil fuels, like natural gas, will lead to less carbon dioxide in the atmosphere. It doesn’t. Citywide (and soon statewide) bans preventing the use of natural gas for cooking and home heating actually force the use of *more* natural gas, not less. We explain how and why below.
Read More “Natural Gas Bans in Cities Lead to the Use of MORE Natural Gas”
MARCELLUS/UTICA REGION: Sen. Yaw plans bills to stop state from supporting solar energy projects with any foreign components; National Fuel outlines plan to reduce greenhouse gas emissions; Thomas F. Farrell II, former CEO of Virginia-based Dominion Energy, dies at 66; Cabot Oil and Gas donates $50,000 to LCTI program; OTHER U.S. REGIONS: Hull Street Energy acquires natural gas-fired plant in Connecticut from ENGIE; NATIONAL: Biden infrastructure plan boosts renewables outlook, puts oil and gas on notice; US natural gas storage injection season starts early with 14 Bcf build; Adam Brandt to lead Stanford’s Natural Gas Initiative research program; U.S. LNG feedgas demand surges as export capacity additions continue; INTERNATIONAL: Oil slips to $64 as rising OPEC+, Iranian output weighs.
Read More “Other Stories of Interest: Mon, Apr 5, 2021”
As you can probably divine from our headline, we’re not fans of the so-called “Bipartisan” Policy Center–a group founded by leftist Democrats and RINOs (Republicans in Name Only), which is how mainstream/Democrat media defines bipartisanship. As near as we can determine, the BPC is devoid of anyone who calls him or herself a conservative. But, whatever. The big news is that Toby Rice, CEO of EQT Corporation, has joined the BPC’s American Energy Innovation Council (AEIC) where his expertise will be used “to assist in accelerating the mission toward a clean energy economy.” Good luck Toby.
Read More “EQT CEO Toby Rice Joins “Bipartisan” Policy Center’s Energy Council”
Epsilon Energy concentrates most of its effort on the Marcellus in Susquehanna County, PA. Epsilon doesn’t typically do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy, and the other company typically does the drilling. Just yesterday our headline story was about Epsilon suing Chesapeake over Chessy’s refusal to honor a jv agreement and allow Epsilon to drill four wells in Susquehanna County, PA (see Epsilon Sues Chesapeake to Drill 4 Marcellus Wells, Court Overrules). Epsilon is in the news again. Yesterday the company issued its fourth-quarter and full-year 2020 update yesterday.
Read More “Epsilon Energy 4Q & 2020 Update: Production Up, Financials Down”
According to S&P Global Platts, natural gas production from the Marcellus/Utica in 1Q21 is up nearly 1 billion cubic feet per day (Bcf/d), now averaging 33.2 Bcf/d. That’s an increase of 2.8% compared with 1Q20. The problem is the interstate transmission pipelines flowing M-U gas are nearly full and the increase in production means we are beginning to see too much natgas piling up, leading to lower spot prices here in the northeast. However, not all sub-regions in the M-U are seeing an uptick in production.
Read More “M-U Production Up, but Lack of Pipe Capacity Keeps Gas Prices Low”
Republican U.S. Senators (at least a few) have noticed the alarming situation at the Federal Energy Regulatory Commission (FERC) under new Chairman Richard “Dick” Glick. Senate Energy and Natural Resources Committee Ranking Member Sen. John Barrasso is questioning FERC over its recent decision to reconsider whether or not the Weymouth, Mass. compressor station should have been approved. That’s after the station has been up and running with no problems. It is not right for a new administration to reopen an already-approved (under a different administration) project and threaten to cancel it. It’s not fair nor right in anybody’s book. It’s lawless. Sen. Barrasso tells FERC it has some splainin’ to do. Read More “GOP Senator Questions FERC on Weymouth Compressor Rehearing”
In February Chesapeake Energy finally emerged from Chapter 11 bankruptcy shedding $7.8 billion worth of debt (see Chesapeake Emerges from Ch. 11 Bankruptcy, Stock Restarts Trading). Also in February, the company announced it would end its ill-advised dalliance with trying to convert the company from exploring for natural gas to oil, refocusing back on natgas (see Chesapeake Refocuses on NatGas, Offers $1B in Post-Bankruptcy IOUs). Chesapeake is one of the biggest drillers in the Marcellus of northeast Pennsylvania, so any major changes it makes to the way it drills and completes wells is big news for us.
Read More “Chesapeake Energy Shifting to “Wet Sand” for All Well Completions”
Joe Biden visited Pittsburgh yesterday to make a major policy announcement. Fortunately, he was lucid enough to actually know which city he was in! Biden unveiled a $2 trillion “American Jobs Plan” which raises corporate and individual tax income rates. It is half of his total package (another plan with another $2 trillion is coming in a few weeks). The Jobs Plan is supposed to be a plan to rebuild roads and bridges and other infrastructure. The Jobs Plan is misnamed. Much of the money has nothing to do with infrastructure and jobs. Instead, it’s the Green New Deal under another name, targeting the elimination of fossil energy in the name of saving the planet.
Read More “Biden $2T Jobs Plan the Green New Deal Repackaged – a DISASTER”
As we have in previous years, MDN will not publish today (Friday) in observance of Good Friday and the Easter holiday. We hope you enjoy this blessed time of year!