Shale Gas News – October 29, 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 coal power plants, petroleum reserves, Shell profits 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 we replayed a conversation we had with Tom Pyle of the American Energy Alliance and Institute for Energy Research from August 6, 2022.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the October 29th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • Inside EPA’s climate strategy for power plants. EPA’s game plan to comprehensively attack pollution from the coal-fired power industry began to take shape almost immediately following President Joe Biden’s inauguration, recently released records show. In early February 2021, senior EPA appointees briefed White House officials on a strategy that would tap a variety of statutes and programs to cut power plant emissions of greenhouse gases and hazardous air pollutants, curb toxic water discharges, and address the massive amounts of coal ash piled up in landfills and storage ponds around the country, according to a slide deck prepared for the meeting.
  • Biden Just Put A Floor Under Oil. Will It Work? The Biden administration is ready to sell additional volumes of crude oil from the strategic petroleum reserve after the end of the 180-million-barrel release plan and then it would begin replenishing the SPR once prices fall to $67-$72 per barrel. This is the main outtake from a fact sheet published by the White House this week as the administration continues to look for ways to tame retail fuel prices with just weeks left until the midterm elections.
  • US exports record oil volumes as fuel price tensions build.  The US is exporting record volumes of oil and taking on a bigger role as a fuel supplier in response to the global energy crunch caused by Russia’s war in Ukraine, even as tensions flare over petrol prices at home.  Combined US exports of crude oil and refined petroleum products surged to 11.4mn barrels a day last week, according to data released on Wednesday by the Energy Information Administration, the most ever reported.
  • Shell reports second-highest quarterly profit ever. British oil and gas giant Shell reported $9.5 billion in third-quarter profits Thursday, more than doubling its profits from the same period last year, amid high gas prices. It’s the second-highest quarterly profit in the company’s history, down only from the second quarter of 2022, when Shell reported $11.5 billion in profit. The company has already raked in more than $30 billion this year, on track to smash its annual profit record, which was set in 2008.
  • Two New Reports Contrast American Energy Abundance With Rising Climate Challenges. A pair of new reports out this week from energy intelligence and analytics firm Enverus quantify the massive scale of North America’s shale oil and natural gas resources, and analyze trade-offs that will have to be made to achieve carbon reductions necessary to meet international climate goals.
  • U.S. midterm outcome in certain states could affect approach to energy. Oregon’s cap-and-trade program, Maryland’s net-zero emissions targets, and Arizona’s solar subsidies all hang in the balance in upcoming midterm elections, and their fate could have an effect on U.S. climate performance. States have taken the lead on climate in recent years in the absence of federal policy. Numerous states have already pledged net zero greenhouse gas emissions by 2050, and investors concerned with environmental, social and governance (ESG) issues have purchased municipal bonds to fund those efforts.

The Shale Gas News sponsored by Linde Corporation

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