Shale Gas News – June 25, 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 oil refineries, gas tax holiday, individual land rights 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 George Stark, Director of External Affairs at Coterra Energy.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the June 25th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • Oil refineries are making a windfall. Why do they keep closing? As the energy crunch drives record profits at American oil refineries, the owners of what had been the largest such facility in the Northeast have no regrets about tearing the place down.  Hilco Redevelopment Partners has been hauling out 950 miles of pipe from the former Philadelphia Energy Solutions refinery, abandoning the property’s 150-year history of processing crude oil into fuel in this city.
  • Oil prices climb $2 on strong demand, tight supply. Oil prices rose almost $2 on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. The U.S. West Texas Intermediate (WTI) crude contract for July, which expires later on Tuesday, rose $2.26, or 2.1%, to $111.82. The more active WTI contract for August was up $2.37 at $110.36.
  • Gas tax holiday? Biden says a decision could come by the end of the week. President Joe Biden said Monday that he’s considering a federal holiday on the gasoline tax, possibly saving Americans as much as 18.4 cents a gallon.  “Yes, I’m considering it,” Biden told reporters after taking a walk along the beach. “I hope to have a decision based on the data — I’m looking for by the end of the week.”  The  administration is increasingly looking for ways to spare Americans from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February.
  • US majors respond to Biden’s letter by calling out federal policies. US President Joe Biden has called upon several oil majors to use “historically high” refining margins to invest in expanding the country’s capacity to help ease pressures on gasoline prices rather than rake in the profits, but the majors are not taking accusations lying down.  In a letter sent earlier this week to a list of companies including ExxonMobil, Chevron, Shell, Phillips 66, Marathon Petroleum and BP, Biden chastised the companies.
  • Comparing PA Farmer’s Quest to Install Solar vs NatGas Drilling. The left OPPOSES individual land rights if exercising those rights results in a tiny natural gas well pad–a pad that nobody can see from 200 yards away that allows the land above it to be used as it always has been used, whether for farming or otherwise. But if a landowner (farmer, in this case) wants to install huge, ugly solar panels that rob the land of being used for farming or any other purpose in perpetuity (for 20-30 years at least), all of a sudden the left is in FAVOR of individual land rights. Kind of funny, no? More like, it is blatantly hypocritical.
  • One of the Top 10 Stocks of 2022 is a Marcellus/Utica Driller. The stock market is off to a shaky start in 2022. Retirement accounts of all types–401(k)s, IRAs, etc.–have chart trend lines going in the wrong direction. Fears over persistently high inflation, aggressive Federal Reserve interest rate hikes, and Russia’s unprovoked and murderous war against Ukraine have the S&P 500 down 13.3% through the end of May. The Dow Jones Industrial Average is down 10.3% year-to-date (YTD). But not every stock is down.

The Shale Gas News sponsored by Linde Corporation

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