Shale Gas News – February 13, 2021

Shale Gas NewsBill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM, 1600 AM, 104.1 FM and Sundays on YesFM, talked about natural gas prices, LNG plant, Keystone XL Pipeline and much more last week.

The Shale Gas News has grown again to the Williamsport area on stations WEJS 1600 AM & 104.1 FM. The Shale Gas News is now broadcasting in Bradford, Lackawanna, Lancaster, Lebanon, Luzerne, Lycoming, Pike, Sullivan, Susquehanna, Tioga and Wayne Counties, as well as in greater central PA and now the Williamsport area. The Shale Gas News is aired on Saturday or Sunday depending on the station.

Every Saturday Rusty Fender, Matt Henderson and I host a morning radio show to discuss all things natural gas. This past week we had an in-person conference, Midstream PA. We played an interview from Pamela Witmer, vice president of government affairs of UGI Energy Services.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the February 13th show (click above), we covered the following new territory (see news excerpts below):

  • Biden’s clean energy plan: Job creator or killer? Biden administration climate envoy John Kerry recently raised the hackles of the oil and gas sector by suggesting displaced fossil fuel workers pivot to installing solar panels, highlighting what coal and oil loyalists say is a political blindness to how disruptive an energy transition will be for the workforce.  Some simply point to the salaries. Coal, oil and gas workers can make as much as $80,000 or $100,000 per year, with overtime, depending on the position and seniority.
  • Oil stocks rallying in 2021, despite Biden’s fossil fuel threats. (Bloomberg) –U.S. oil and gas stocks, by far the worst performers last year, are standing out as the best in 2021 — a turnaround that might seem a bit surprising given the new balance of power in Washington.  Companies including Exxon Mobil Corp., Diamondback Energy Inc. and Marathon Oil Corp. have posted double-digit gains this year as a rebound in oil prices and the prospect of an economic recovery have outweighed risks to the industry from a Joe Biden administration.
  • Senator Manchin urges Biden to reverse opposition to Keystone XL pipeline. WASHINGTON (Reuters) – The head of the U.S. Senate energy committee, Joe Manchin, on Tuesday urged President Joe Biden to reverse his opposition to the Keystone XL pipeline, saying the project provides union jobs and is safer than transporting the oil via trucks and trains.  Biden revoked a permit for the pipeline which would transport 830,000 barrels a day of carbon-intensive heavy crude from Canada’s Alberta to Nebraska. It was part of a flurry of Biden’s executive orders aimed at curbing climate change.
  • Bill Gates, DOE eye low-CO2 hydrogen made from natural gas. An Energy Department-backed startup is promoting a new way to slash emissions from hydrogen production without ditching natural gas, and it’s tapping into funds from Bill Gates’ clean energy investor group and other major energy companies.
  • Biden Admin Issues New Federal Drilling Permits Despite “Ban” – Psst. Don’t tell anti-fossil fuel nutjobs this, but Joe Biden’s “ban” on issuing new permits for drilling on federal and offshore land has loopholes. Since Biden seized power and began occupying the White House, HIS administration (not Trump’s) has issued “at least” 31 new drilling permits for federal and/or offshore drilling. It seems there are big loopholes in Biden’s federal permit moratorium that most news organizations are not reporting.
  • Monroe, NC Launches New LNG Plant to Keep Gas Prices Low. The City of Monroe, North Carolina is a shining example of what other cities should do. The city recently launched a new LNG facility online (took three years to build). The city buys natural gas on the open market when the price is low, liquefies and stores it, and then regasifies it for use later–saving residents money. Smart folks running Monroe.
  • NatGas Prices in Boston, NYC Double in One Day, Electric Up 55%. Although a true polar vortex has not yet visited the northeastern U.S. as previously predicted, temperatures in the northeast have fallen and are forecast to be the lowest so far this winter in the next few days. Due to lack of natural gas pipelines to New York and New England, the price for natural gas in both New York City and Boston almost doubled, literally overnight. The spot price for natural gas at the Iroquois Zone 2 trading hub.

The Shale Gas News sponsored by Linde Corporation

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