Goldboro LNG FID Deadline Passes, Pieridae CFO Resigns
Pieridae Energy’s Goldboro LNG project, located in Nova Scotia (with the potential to export Marcellus/Utica molecules) has been on our radar for years. Nine years to be exact. In the middle of May, the company said a final investment decision (FID) would happen no later than June 30 (see Goldboro LNG Predicts FID Coming by June 30 – Some 9 Yrs Later). We now have the answer of sorts. The project will not go forward as planned. Instead, Pieridae says it’s going to rework the project to be “more compatible with the current environment.” Whatever that means.
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The Energy Equipment and Infrastructure Alliance (EEIA), a trade association representing the companies and people that provide contractor services, equipment, materials, and labor to shale oil and gas exploration and production, infrastructure, transportation and processing, has just published its Spring/Summer 2021 Energy Logistics & Distribution Report (full copy below). The report features more than 75 individual charts and graphs tracking price and volume metrics for energy including crude oil, natural gas, NGLs, drilling activities, renewables, consumption, logistics, and financial data. It is the single best source of charts and graphs to understand what’s happening in the energy markets.
OTHER U.S. REGIONS: Permian oil patch faces economic conundrum as efficiencies reduce workforce; NATIONAL: Rigs added in Permian, Marcellus as U.S. drilling count continues uptrend; President Biden’s climate plan is more revolution than transition; Will crude oil hit $100 a barrel?; As U.S. temperatures spike, so does the need for natural gas; ExxonMobil employs lobbyists? Who knew?; INTERNATIONAL: Energy inflation gathers pace in Europe; Slave labor builds solar panels to signal your virtues.
Is our favorite government agency, the U.S. Energy Information Administration, being corrupted by the Biden White House? Maybe. The EIA published a post on their Today in Energy website yesterday to trumpet the fact that “nonfossil fuel sources” accounted for 21% of all energy consumed in the U.S. in 2020. The post should have had the headline that fossil energy provided 79% of all energy consumed in the U.S. last year. Yes, that was a new low for fossil energy (and a new high for nonfossil fuels) in the modern age, but not by much. We dug into the numbers and discovered a startling revelation: natural gas was the #1 source of energy consumed in the U.S. last year–even more than oil!
The Supreme Court decision from earlier this week allowing PennEast Pipeline to use the federally delegated power of eminent domain to cross tiny pieces of land owned (or controlled by) New Jersey is still reverberating across the country (see 
As encouraging (indeed critical) as this week’s Supreme Court decision was and is for the PennEast Pipeline, a 120-mile 1.1 billion cubic feet per day (Bcf/d) pipeline from northeastern Pennsylvania to New Jersey, the court victory does not automatically mean the pipeline will get built. Not one square inch of pipe has been laid yet. What are the potential obstacles that could derail the project?
In April, CNX Resources Corp. announced instead of just blowing smoke about ESG (environmental, social, governance) with pretty slide shows and hoopla, they would donate $30 million to local, underserved communities and populations in the tri-state region (see 
With all of this blather about ESG (environmental, social, governance) and net zero and so-called “renewable” natural gas (RNG), has anyone stepped back to ask the question, Will utility companies (and their ratepayers) actually pay more for green gas? Reuters has asked the question and it seems that right now, the answer is a resounding NO!
More details have emerged from what has to be one of the oddest combinations in recent memory–the merger of Permian driller Cimarex Energy with Marcellus driller Cabot Oil & Gas (see 
Earlier this month MDN brought you the sad news that Enbridge’s Texas Eastern Transmission (TETCO) pipeline is being flow-restricted by the Pipeline and Hazardous Material Safety Administration (PHMSA). Some 40% of the Marcellus/Utica molecules that flow through TETCO’s pipeline to destinations in the southeastern U.S. have disappeared and will stay that way until the end of September (see 
Yesterday, National Grid issued its Natural Gas Long-Term Capacity Second Supplemental Report (full copy below). The report reaffirms the company’s commitment to achieving a mythical so-called “net zero carbon” future. Whatever. The report provides an update on the short- and long-term energy needs of downstate New York customers, reviews the status of targeted solutions identified by the company in 2020, and emphasizes the importance of ensuring that no customer is left behind during the transition to a magical net zero future. How will they accomplish it? According to this updated report, with *more* natural gas.
Yesterday MDN brought you the news that the U.S. Supreme Court decided that yes, the PennEast Pipeline *can* use federally-delegated eminent domain in order to install a pipeline across New Jersey state-owned land after all (see 
The Pennsylvania Department of Environmental Protection (DEP) has just published its 2020 Oil and Gas Annual Report. This is the fifth year in a row the DEP has published the report in an interactive, electronic (i.e.online) format ONLY. Don’t worry, we’ve turned it into a convenient PDF for MDN readers. What does the 2020 report show? While permits issued and the number of new wells drilled have both gone down (again), gas production has gone up (again)–to a new record high.
From the “mankind has gone collectively insane” file: Some two dozen utility companies, including Dominion Energy and Sempra Energy, are experimenting/dipping their toe in the water of mixing super-explosive hydrogen with methane (natural gas) in extremely small quantities on the theory that one day, hydrogen can replace natural gas in existing pipelines and infrastructure. H2 can’t and won’t replace CH4, but hey, these companies at least have to show they’re trying or risk being sued into oblivion by woke leftists who claim mankind is burning the earth by burning fossil fuels. Yes, collectively mankind has officially gone mad…