Shale Gas News – March 23, 2019

Bill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

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The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM and Sundays on YesFM, talked about the PennEast pipeline, ConEd moratorium, Connecticut solar and much more last week.

The Shale Gas News has grown again; welcome Gem 104 as our FOURTH station! Gem 104 helps to solidify the Shale Gas News coverage in an important Marcellus region, PA’s northern tier. 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. The Shale Gas News is aired on Saturday or Sunday depending on the station.

Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas.

The Shale Gas News, typically, is broadcast live. On the March 23rd show (click above), we covered the following new territory (see news excerpts below):

• PennEast Continues on Its Long Tough Slog Through New Jersey. Last December a federal judge in New Jersey upheld eminent domain power for PennEast Pipeline for ALL of NJ, where there are 136 holdout landowners who have refused to allow PennEast surveyors on their property. However, PennEast still isn’t totally out of the woods. The State of NJ appealed the decision because some of the land PennEast wants to build across belongs to the state.  Yesterday the Third Circuit granted a request to block construction of the pipeline in NJ until the appeal is decided.
• New York, A State of Unreality, Where the Truth Dare Not Be Uttered. Chris Denton hit a home run the other day with his post here about “Why Upstate New York Feels Unwelcome in its Own State.” The post has, at this writing, some 7,000 Facebook likes, which speaks to what a wonderful piece of writing it was. Why did was this post so popular? Because, I think, it captured the frustration of Upstate New Yorkers at the condescension with a New York Daily News editorial that shows how completely so many New York City residents are disconnected from reality.
• Connecticut Solar Industry Demonstrates Why It Ought to Be Shut Down. The EnviroPolitics Blog carries a lot of interesting stories, although I disagree with almost all the positions it takes. A post about the Connecticut solar industry is a good example. The headline is “Connecticut’s solar panel industry presses for change in state law it sees as threat to its existence.” That’s factually accurate but you can hear the whining coming from the yearlings who should have stopped sucking on the public teat months ago.
• U.S. ‘’Oil Weapon’’ Could Change Geopolitics Forever. In a dynamic that shows just how far U.S. oil production has come in recent years, the U.S. Energy Information Administration (EIA) said on Monday that in the last two months of 2018, the U.S. Gulf Coast exported more crude oil than it imported. Monthly net trade of crude oil in the Gulf Coast region (the difference between gross exports and gross imports) fell from a high in early 2007 of 6.6 million b/d of net imports to 0.4 million b/d of net exports in December 2018.
• US hails shale as it starts to call shots in the oil industry. You may have noticed the upward drift in petrol prices as you filled up following your weekly shop.  Opec’s agreement with Russia in December to curb supplies did the trick and helped end a glut. The Brent crude oil futures price has risen by 31% to $67 since. The oil producers’ cartel over the weekend agreed again with Russia to keep the cuts, totaling 1.2 million barrels per day in place until June, and probably for the rest of the year.
• U.S. Seeing Record-Setting Natural Gas Production. A recent report from the Energy Information Administration profiled the record-setting amounts of natural gas produced in the U.S. during 2018. The two primary sources of the growth were the Marcellus and Utica/Point Pleasant shale sites in Ohio, West Virginia, and Pennsylvania, as well as the Permian Basin in Texas. Not surprisingly, these have been top oil production hubs as well.
• No Pipelines, No Service: Con Ed Cuts Off New Gas Hookups.  Across the suburbs north of New York City, clusters of luxury towers are rising around commuter rail stations, designed to lure young workers seeking easy access to Manhattan. In all, 16,000 apartments and condominiums are in the works in more than a dozen towns, along with spaces for restaurants and shops. But the boom unfolding in Westchester County is under threat — not from any not-in-my-backyard opposition or a slumping real estate market.

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