Shale Gas News – July 30, 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 methane fees, big banks, Wolf gas bans 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, Jude Clemente, regular Forbes contributor and researcher at JTC Energy Research.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the July 30th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • Manchin revives climate deal: What’s in the $369B bill. Senate Majority Leader Chuck Schumer and Energy and Natural Resources Chair Joe Manchin struck a deal yesterday on legislation that includes $369 billion in climate and clean energy policies, a stunning turnaround that caught lawmakers, environmental advocates and lobbyists by surprise. It would be the biggest and most consequential climate change bill ever passed by Congress and would be part of a larger agreement on a party-line budget reconciliation bill that also includes health care provisions and tax hikes on the wealthy.
  • Oil, Gas Industry Methane Fee Survives in Manchin Spending Deal. The oil and gas industry would face a first-time fee on the excess emission of methane under a breakthrough spending agreement reached on Wednesday by Senate Majority Leader Chuck Schumer and Senator Joe Manchin.  Methane leaking from oil and gas wells, pipelines and an array of other infrastructure would lead to fees rising to as much as $1,500 a ton in 2026 for some operators, according to the text of the agreement, which is set for a Senate vote as soon as next week.
  • Oil rises on US inventory drop, Russian gas cuts as Fed decision looms. Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming U.S. interest rate hike.  Industry group the American Petroleum Institute said on Tuesday crude stocks fell by 4 million barrels, four times the forecast decline.
  • Big Banks Object to Being Outed by WV as Fossil Energy Haters. All six Big Banks (and investment firms) on the West Virginia blacklist of companies pressuring investors to avoid fossil energy companies are objecting to being included on the WV blacklist. One month ago 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. The dirty six had 30 days to respond. All six (named below) responded by claiming they don’t hate fossil fuels. Liars.
  • Range Resources Remains Focused on M-U, Not Looking at Other Plays. Not all that long ago Cabot Oil & Gas (now Coterra Energy), Southwestern Energy, BKV Corporation, and Diversified Energy were all pure play drillers focused just on the Marcellus and/or Utica Shales. Today all of them own assets in other basins in addition to the M-U. However, the very first company to sink a Marcellus well (back in 2004), Range Resources, has gone the other way. Range used to own assets outside of the M-U but has, for over two years, been a pure play driller laser-focused on only the M-U. According to CEO Jeff Ventura, Range plans to keep it that way–laser-focused focused on the M-U.
  • Parting Swipe at Marcellus – Gov. Wolf Vetoes Bill Blocking Gas Bans. He’s about as lame a duck as they come with his term ending at the end of this year, yet Pennsylvania Gov. Tom Wolf is once again attacking (at the behest of the radical left) the Marcellus industry in his own state. The PA legislature, following the example of many other states, passed a bill that blocks local leftist-infested communities from doing something truly stupid–banning the use of natural gas. PA is not California, or New York, or other leftist hornet nests filled with fossil fuel haters. Yet Wolf acts as if he is a fossil fuel hater himself, tightly bound to the radical environmental left, doing whatever they ask of him. His latest act against the Marcellus is to veto Senate Bill (SB) 275.

The Shale Gas News sponsored by Linde Corporation

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