Price of NatGas Craters – Goes Under $2 First Time in Four Years
Last Friday (and again yesterday) the price of natural gas futures–the NYMEX NGc1 futures price (based on gas selling at the Henry Hub)–went below $2 per MMBtu (or Mcf). It was the lowest price we’ve seen in nearly four years. In fact, as this post is being written, the latest price NGc1 (Tuesday morning) is trading at is $1.93. Is there any hope for prices to increase?
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Nearly a year ago a lawsuit brought by greedy lawyers (ab)using a group of 21 children against the United States for not doing enough about mythical man-made global warming began in the U.S. Court of Appeals for the Ninth Circuit (see 
MARCELLUS/UTICA REGION: Area residents respond to oil, gas documentary about plastic problem; FERC decision this week for PennEast Pipeline; OTHER U.S. REGIONS: San Francisco bans natural gas in new, remodeled municipal buildings; Protests target a ‘carbon bomb’ linking two major pipelines outside Boston; Persistent fog reduces activity at Cheniere’s Sabine Pass LNG terminal; NATIONAL: EIA expects U.S. energy-related CO2 emissions to decrease annually through 2021; Schlumberger plans U.S. pullback as shale oil drillers struggle; Natural gas 2019 review and what lies ahead in 2020.
Dear MDN Reader:
It’s been a while since we’ve updated our calendar of events page. We just have. The list below includes events related (or of interest) to the Marcellus, Utica and other Appalachian shales happening from now through the end of March. Be sure to check it out!
Two weeks ago the Pennsylvania Dept. of Environmental Protection (DEP) announced the largest fine for a single company/project in its history. DEP slapped Energy Transfer (ET) with a $30.6 million fine for the construction and subsequent explosion of the company’s Revolution gathering pipeline in western PA (see 
The gloves are off in Harrisburg. We previously told you about Gov. Wolf’s plan to have PA join with northeastern states in the so-called Regional Greenhouse Gas Initiative (RGGI), a regional alliance to slap a carbon tax on natural gas-fired electric plants (see 
PA Rep. Cris Dush, a Republican from Jefferson County, is about to introduce two bills that would either dissolve both the Delaware River Basin Commission (DRBC) and Susquehanna River Basin Commission (SRBC) or withdraw PA from both compacts.
Aqua America, the nation’s second-largest water/wastewater utility company headquartered near Philadelphia, announced in October 2018 it would buy Peoples Gas, the nation’s fifth-largest natural gas utility company headquartered in Pittsburgh, for $4.275 billion (see 
We’ve often said if we could have anyone else’s brain who writes about the Marcellus/Utica, it would be Tom Shepstone’s brain. Tom, who has become a good friend over the years, writes the 
Yes, 2019 was a tough year here in the Marcellus/Utica shale due to low natural gas prices drillers received for their gas. The U.S. Energy Information Administration says the average spot price for natural gas at the benchmark Henry Hub was $2.57 per million BTUs (MMBtu) in 2019. But the news gets worse. EIA says that in 2020, because of increasing natgas production without a corresponding increase in demand, they predict this year’s average HH price will sink to $2.33/MMBtu. That’s 9% lower this year than last.
