Shale Gas News – February 18, 2023

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 Strategic Petroleum Reserve, U.S. LNG, oil prices 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.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the February 18th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • Biden’s Declared War on Oil and Gas Hits Home Hard in West Texas’ Permian Basin. When President Joe Biden openly advocates for phasing-out oil and gas as primary energy generators in the United States within a decade, what appears as a news scroll blip for most Americans is a clap of thunder across the rolling West Texas sage of the Permian Basin.  “The messages, virtue signaling, and rhetoric that have come from the federal level lately, tell us oil and gas is evil or not on the side of average the American, or on the side of caring for our environment,” Midland Mayor Lori Blong told Congressional lawmakers during a Feb. 16 field hearing in her city, which she called “the energy capital of Texas and, arguably, the energy capital of the United States.”
  • The House Democrat trying to move his party on NEPA reform. Despite a Republican House majority, Democratic Rep. Scott Peters has entered the 118th Congress emboldened.  As members of both parties and chambers restart negotiations on legislation to speed up the permitting process for energy projects, the California lawmaker wants to take on the role of bipartisan dealmaker, leveraging the relationships he has formed across the aisle with the credibility he has earned as an environmental advocate.
  • Going black, not green: Curbing US oil, gas production would hurt the environment, report finds. Environmentalists seeking to halt U.S. oil and gas production in the name of combating climate change are undermining their own agenda and risking greater damage to the planet, according to a new report. The Institute for Energy Research (IER) released a paper showing that the U.S. is the most environmentally friendly major energy producer and arguing that, like it or not, because petroleum products are here to stay, limiting U.S. production would have a devastating effect on the environment.
  • How the Strategic Petroleum Reserve impacts oil and gas prices: Special Report Spotlight Energy Matters. President Joe Biden announced the first major release from the Strategic Petroleum Reserve (SPR) on Nov. 23, 2021. He said the recovery from the coronavirus pandemic was increasing demand for gasoline as the world reopened and supply wasn’t keeping up. The weekly average price for regular gasoline was $3.40 per gallon – more than a dollar increase from the same time period in 2020.  “It’s always painful when gas prices spike,” Biden said. “The fact is we always get through those spikes. But we’re going to get through this one as well and, hopefully, faster.”
  • U.S. LNG producers poised to leapfrog rivals with three new projects. At least three proposed U.S. liquefied natural gas (LNG) export plants have likely found enough customers to receive financial approvals this year, according to Reuters calculations, developments that would make the country the world’s largest LNG exporter for years to come.  After a dearth of plant approvals last decade, developers have secured dozens of long-term contracts to finance new multibillion-dollar LNG plants.
  • U.S. Influence On Global Oil Prices Is Growing. Earlier this month, the number of oil swaps linked to oil produced in Texas hit a record. To date, the number of such swaps in total also sits at a record. Later this year, the Wall Street Journal reports, a Texas oil grade will be added to the Brent complex of crude contracts. U.S. oil is going places.  During the first shale revolution, there was probably hardly much thought about becoming an exporter of crude. The point at the time was to boost self-sufficiency and, really, see just how much oil one could get out of those shale rocks in the Eagle Ford and the Permian.

The Shale Gas News sponsored by Linde Corporation

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