Shale Gas News – August 20, 2022

shale gas news
Shale Gas NewsBill desRosiers
External Affairs Coordinator, Coterra Energy
Host, Shale Gas News

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 OPEC, U.S. Shale, LNG 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 shale gas. This week, as a guest, we had Jason Fink, Williamsport/Lycoming Chamber of Commerce President and CEO.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the August 20th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • U.S. Energy Industry Outlines Opposition to Inflation Reduction Act. The American Petroleum Institute (API) today joined with nearly 60 other trade groups representing America’s natural gas and oil industry in opposing the Inflation Reduction Act (IRA) as passed by the Senate. In a letter to House Speaker Nancy Pelosi and Minority Leader Kevin McCarthy, the organizations outlined problematic provisions, including punitive new taxes and regulatory red tape that undermine the industry’s ability to promote energy security for the American consumer.
  • OPEC, in contrast to IEA, sees lower 2022 oil demand growth. OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic. The view from the Organization of the Petroleum Exporting Countries contrasts with that of the International Energy Agency, the adviser to industrialised countries, which earlier on Thursday raised its 2022 demand growth outlook.
  • The New Acquisition Strategy Of U.S. Shale. U.S. shale oil producers have been in Washington’s sights for several months now, refusing to produce as much oil as legislators and the White House want them to. They have also been attacked for reaping fatter profits from higher oil prices. And now they may be starting to consolidate again. Last month, Energy analytics provider Enverus reported that the value of mergers and acquisitions in the U.S. shale industry fell to $12 billion in the year’s second quarter. This was a solid 65-percent drop from 2021.
  • U.S. natgas jumps 8% on talk of higher flows to Freeport LNG. U.S. natural gas futures jumped about 8% to a two-week high on Thursday on talk of increased gas flows to the Freeport liquefied natural gas export plant in Texas, which shut in June, a drop in gas output and forecasts for more demand over the next two weeks than previously expected.  Officials at Freeport said the company was still using the gas to feed a power plant that was generating electricity for the Texas grid. Freeport has been pulling in gas to feed the power plant since around mid July
  • WV Ends Business with 5 Banks Guilty of Boycotting Fossil Fuels. Boom! The hammer has dropped on five of six companies identified by West Virginia as engaging in “boycotts of fossil fuel companies.” In June, WV State Treasurer Riley Moore sent a letter to six big banks/investment firms alerting them they are about to be added to the state’s “blacklist” for violating policies by not investing or doing business with fossil fuel companies. All six protested, begging WV not to blacklist them, which would end WV from doing business with them. The verdict is in, and five of the six have been found guilty and remain on the blacklist.
  • The Side of Marcellus Drilling that Big Media Refuses to Report. Once upon a time, there was a “we’re all in this together” spirit with respect to cleaning up the environment and protecting Mom Earth. But then something happened, and common sense and civility went right out the door. The left elevated the climate to become its new religion and now brooks no dissent from its extreme positions. If you do not agree with the left, if you want to debate and call attention to and poke holes in arguments they make about the climate, you are labeled an apostate, a climate heretic, and banished (or worse).

The Shale Gas News sponsored by Linde Corporation

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