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DRBC Invested in Oil and Gas? Talk About Fracking Hypocrisy!

cost of renewables - Tom ShepstoneTom Shepstone
Natural Gas NOW

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The stark hypocrisy of the DRBC, which supposes it has the authority to prevent fracking in the basin, while its cash is invested in oil and gas is amazing.

A review of the most recent audit of the Delaware River Basin Commission (DRBC) reveals the disingenuous nature of the agency’s seven-year moratorium on fracking. It pretends, on one hand, that it just can’t make up its mind on allowing the practice anywhere near the Delaware, while investing its cash in the New Jersey Cash Management Fund, where a review indicates oil and gas company stocks are among the favorite equities it purchases.

DRBC

The DRBC is busy simultaneously maintaining the incompatible positions that it has the authority to regulate oil and gas development and no duty to act upon such regulations. This has the effect of allowing it surreptitiously ban a land use activity without explicitly doing so, as that could trigger a takings claims worth billions by landowners in the basin. That matter is before the Third Circuit Court of Appeals at the moment, but, meanwhile, the agency is indirectly invested in oil and gas.

The latest DRBC audit shows the bulk of its cash is invested in the New Jersey Cash Management Fund. That entity reports its purchases of equities every month and for June, 2017, here are some of the investments made:

Fascinating, isn’t it? Well, not really. Any pension or other investment fund of virtually any major institution today will have significant oil and gas holdings among its portfolio. No one connected with the DRBC makes these investment decisions and my guess is not a single staff member or commissioner has the slightest clue these stocks are helping protect the assets of the agency.

But, that’s the point. These decision-makers are surely aware of their interests in oil and gas, however indirectly they may be involved; oil and gas makes the world go around. Development of these resources is essential and pipeline infrastructure is critical. New Jersey, New York and Pennsylvania are all huge oil and gas consumers and the Commonwealth is a top producing state. Pretending the region can have its oil and gas while obstructing its development and kowtowing to radicals who suppose oil and gas can be dispensed with on a whim is pure demagoguery; the worst form of hypocrisy.

This is precisely what is happening at the DRBC. Its Army Corps representative and chair, LTC Michael Bliss, who should be providing real leadership, instead issues mealy-mouthed comments about working on gas drilling regulations while the Commission makes excuses for doing nothing and promises opponents nothing will happen in the near future.

The DRBC is a bureaucracy run by other bureaucrats from the states and Army Corps. They serve through multiple state administrations, acting as commissioners, with seemingly no accountability to anyone. The agency has separated itself from the real world, just as New York has, maintaining, for purposes of political posturing, the fiction it has no need for oil and gas even as—just like the rest of us—it depends on it.

 

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14 thoughts on “DRBC Invested in Oil and Gas? Talk About Fracking Hypocrisy!

  1. Permanent temporary bans- brought to you by a handful of lying elitists who made their fortunes in oil and chemicals… this is what you get when “progressives” own pols, the courts and the media. Gotta keep the stupid hayseeds down.

  2. Ofcourse they invest into the future with oil and gas…the many failures of solar show the path to wise investment is in fossil fuels

  3. https://www.washingtonpost.com/local/social-issues/catholic-nuns-in-pa-build-a-chapel-to-block-the-path-of-a-proposed-gas-pipeline/2017/07/16/0096e7ce-6a3c-11e7-96ab-5f38140b38cc_story.html?utm_term=.21fb21a3ff28

    Interesting coverage of the nuns vs the pipeline from a religion reporter.

    Just in case folks are interested– it is not effective to let religious folks know that the activists they work with lie or misinform the public. Unfortunately I have learned this from contacting mutliple religious groups including nuns in the past.

  4. https://twitter.com/washingtonpost/status/886960589511299072

    I wonder how many people will read this article today.

    http://lancasteronline.com/news/local/vigil-held-at-west-hempfield-township-chapel-in-opposition-to/article_761bf55a-6a93-11e7-9912-8b50dabf51df.html

    Amen, eh?

    http://www.mydailyrecord.com/eedition/a-main/2017/07/17/clean-water-for-n-c-hosts-anti-pipeline-meeting/

    Ms. Taylor said Clean Water for N.C. has told Gov. Roy Cooper, “The single biggest thing he can do to protect North Carolina, with regards to climate change, is to stop this pipeline.”

    http://www.washingtonexaminer.com/in-new-york-a-rogue-attorney-general-promotes-himself-rather-than-justice/article/2628290

    Oh how come no one is writing about the attorney general from new york and his actions on fracking and with the constitution pipeline?

  5. At a UDC meeting in August, I brought up the subject of investments in oil and gas the DRBC had and asked them if it was hypocritical; for them to have investments in oil and gas, many working the Marchellus. He said it was first hes heard of this and that the state of NJ requires them to invest in NJ Cash Management fund. I suggested that he have the DRBC contact the state and request that the DRBC be allowed to divest it self from oil and gas investments rather then continue to make money while the people they claim to represent are denied their constitutional rights as landowners.

    No comment followed.

    • The only reason I know of this NGN blog post is because I attend the UDC meetings, and watched the Hancock representative, Fred Peckham, act rudely towards the DRBC Representative, Ken Najjar. In a feeble attempt to embarrass Mr. Najjar, he brought up the charge of hypocrisy leveled at the DRBC by Mr. Shepstone’s blog post, even though it had nothing to do with anything being covered at the UDC meeting.

      Contrary to Mr. Peckham’s assertion in his comment above, Mr. Najjar stated he was familiar with the charge of hypocrisy by Mr. Shepstone. Najjar went on to state clearly to Mr. Peckham, that the State of New Jersey is the Commission member that has control over the financial holdings and investments of the DRBC, that the DRBC staff has no say in the matter, and the staff of the DRBC has no authority over the rulings made at the DRBC. The decisions, such as this “moratorium”, are determined by the four member States and the Army Corps of Engineers, whose votes determine policy. This knowledge is obvious to all except Mr. Peckham, it seems, since he keeps attacking the staff of the DRBC.

      As for divestment, Mr. Peckham could not even think of the word “divest”. He began stumbling, so I called out that word to him, and he seemed to not even know what the word meant.

      As a taxpaying primary resident homeowner in Wayne County for the past 14 years, and as a taxpaying landowner in Wayne County for he past 28 1/2 years, I think the DRBC staff is doing a fine job at what they are tasked to do by the Supreme Court and multi-State/Federal agreement. I also thank the DRBC for protecting my Constitutional rights.

      Clearly Tom and Fred, not every body feels as you, and the fact that you have been portraying all this as simple “black and white” for years has been crushed thus far by the facts both in the Courts, and in the four States that make up the DRBC. It’s 2017, and you’ve been singing (poorly) the same songs since you signed your original leases (that have all been dropped by your beloved Chesapeake, Hess and Newfield). Perhaps Mr. Peckham never got to sign a lease?

      As Marian S. used to end her emails (whatever happened to her?), Good luck to us all.

      Jim

      • Jim,

        You’re deflecting. Here’s what I said:

        No one connected with the DRBC makes these investment decisions and my guess is not a single staff member or commissioner has the slightest clue these stocks are helping protect the assets of the agency.

        But, that’s the point. These decision-makers are surely aware of their interests in oil and gas, however indirectly they may be involved; oil and gas makes the world go around. Development of these resources is essential and pipeline infrastructure is critical. New Jersey, New York and Pennsylvania are all huge oil and gas consumers and the Commonwealth is a top producing state. Pretending the region can have its oil and gas while obstructing its development and kowtowing to radicals who suppose oil and gas can be dispensed with on a whim is pure demagoguery; the worst form of hypocrisy.

        This is precisely what is happening at the DRBC.

        • I see Barth is familiar with hypocrisy being his radical organization has promoted divestment in all governing agencies having oil and gas investments or have you conveniently forgotten? LMAO!!

          The DRBC embarrasses them selves I’m just pointing it out. Like the rivercreeper, Maya sits on several DRBC committees, even chairing one. The Creeper sues the DRBC to recover the donations given to the DRBC by them. The DRBC is fully aware and admits this conflict of interest. yet they refuse to do anything about it. One of the main reason the UDC refused to endorse a request by the DRBC to write a funding support letter to the feds.

          Shows how far behind Barth and his radical group are with the real science of oil and gas development.

          I could go on but real science dictates the activists are losing the war!

          • Fred, I’m not going to go back and forth with you in such a closed loop gas blog, past this post. I’ll see you at the next UDC meeting and we can smile at each other all night…

            In preparation for that meeting, I do hope you pre-read your Water Use/Resource Management minutes that Cindy so nicely puts together, then condense them and present a cogent report, instead of wasting everyone’s time and inflicting pain on the assembled by reading the minutes word by word as if for the first time, as fast as you can, with no regard to punctuation or content. You read your meeting’s minutes, verbatim, as if you hate doing so, and it certainly shows.

            As for “losing the war”, this is what you have been saying to “antis” since 2009 and yet, what are the facts on the ground as they pertain to NYS and the DRB? Give everyone, including yourself, a break. As Yogi is quoted, “it ain’t over until it’s over”. Let me know when that happens.

        • Tom,

          I quickly read your blog post yesterday, a week and a half after Fred brought it up to Ken Najjar as “evidence” of DRBC hypocrisy, and only because Fred brought it up at that UDC meeting. I came to your site to see what would have possessed Fred to do this, as it seemed to have nothing to do with the staff of the DRBC, the Agenda of the UDC meeting, or any topic that Ken Najjar presented at the meeting. Fred’s effort fell flat, and the meeting continued on point after the awkward moments he created.

          In response to my “deflection”, I simply say that your charges of hypocrisy are a tempest in your teapot. You and your followers have been charging all who present obstacles to your shale gas extraction goals in the DRB as hypocrites, since 2009. This characterization carries no weight, whether true, whether false. It is cheap.
          It is weak, it is old. It is water off a duck’s back.

          On a personal level, I stopped paying attention to your posts when things quieted down, after Hess, Newfield and Chesapeake left town, and your EID blog folded.

          Have a good week.

          Jim

          • I guess its OK to be a hypocrite like Barth. The anties for a long time have called for the divestment of government agencies yet when it stares them in the face they blink!

            The anties know their voodoo science with their fake studies doesn’t hold water.

            Learn or not, your choice!

      • Hey Barth how was that emergency trip to the DRBC meeting by all the anties when I stated at a meeting PA and the DRBC are talking about regulations. Hahaha, ironic isn’t it!

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