External Affairs Coordinator, Cabot Oil & Gas
The Shale Gas News, heard every Saturday morning at 10 AM on 94.3 FM “The Talker,” talked about water rates (you read that correctly), methane myths, oil freak-outs and future prices this week.
Every Saturday, Kevin Lynn of Linde Corporation and I co-host a morning radio show to discuss all things natural gas.
The Shale Gas News is typically broadcast live and this past Saturday’s program, the podcast of which is available here, covered the following new territory (see news excerpts below) and included an interview with API’s Stephanie Wissman:
- The Board of Directors of the Canton Borough Authority recently announced that the residential and commercial water rates for 2015 will be reduced by 15%, according to a news release from authority manager Les Hilfiger. This is the result of several years of bulk water sales to gas drilling companies in the area, the release notes. The money from these sales was used to pay off $3.7 million in long-term debt incurred during the 2006 water infrastructure upgrade project, eliminating an annual loan payment of $130,680.
- Last week the Environmental Protection Agency (EPA) announced major new regulations on the emissions of methane into the air from oil and gas production. It calls methane a “potent” pollutant and its new rules would require a 45 percent reduction by 2025 from 2012 levels. Methane sounds like a dirty and dangerous pollutant and even deadly if leaked into water or the air. However, methane is just another term for the main component of natural gas. Drillers have a powerful motive to stop leakage on their own, because they want to sell it, not spill it.
- America’s got mixed feelings about the drop in oil prices. While low energy prices are good for the consumer, oil is responsible for a lot of jobs and economic activity. Here are some of the worrisome mentions from the latest Fed Beige Book, a report of economic anecdotes gathered by members of the Federal Reserve’s 12 districts, which was released on Wednesday.
- Gas was less than $2 a gallon in Leonia, N.J., on Friday, but don’t expect cheap prices to last for long. An energy expert told Phila. Chamber of Commerce members those won’t stick more than a year. How long will we enjoy gas below $2 a gallon, or oil below $50 a barrel? “I wouldn’t bet on more than a year,” Philip Rinaldi, who runs Philadelphia Energy Solutions and its big refinery, storage, and shipping complex in South Philadelphia, told Greater Philadelphia Chamber of Commerce members at their yearly economic forecast breakfast Wednesday. But, like a Wall Street trader, Philadelphia could benefit from Marcellus Shale gas and oil whether world prices rise or fall, Rinaldi added. He’s chief cheerleader in the campaign to make the region an “energy hub,” where Marcellus Shale gas and fuels are stored and sold to users around the world.
Check out what else is new at NaturalGasNow today!