Shale Gas News – September 24, 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 Biden’s insane policies, electricity costs, Native Americans 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 quest, we had Brook A. Simmons, President of The Petroleum Alliance of Oklahoma.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the September 24th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • Biden’s ‘Kind Of Insane’ Energy Policies Have Created An Entirely Rational Investor Response.  Speaking at the Boston Globe’s Globe Summit on September 15, former Obama administration Economist Larry Summers said this about current U.S. energy policy: “It’s kind of insane that we have truck and trains carrying oil all over this country, rather than constructing pipelines, which would permit accessing more resources and cheaper, safer transmission.”
  • Manchin vows permitting bill text tomorrow; GOP shrugs.  Senate Energy and Natural Resources Chair Joe Manchin (D-W.Va.) said text of his permitting reform agreement that has split Democrats and failed to garner Republican backing will come out Wednesday.  Manchin extracted a deal on permitting reform legislation from Senate Majority Leader Chuck Schumer (D-N.Y.) and other Democratic leaders in exchange for supporting the Inflation Reduction Act, but final text has been elusive.
  • Oil prices surge as Putin mobilizes more troops. Oil jumped nearly 3% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and raising concerns of tighter oil and gas supply. Brent crude futures rose $2.26, or 2.5%, to $92.88 a barrel by 1051 GMT. U.S. West Texas Intermediate crude was at $86.09 a barrel, up $2.15, or 2.6%.
  • Biden admin sides against Native Americans in crackdown on oil leasing near Indigenous site.  The Biden administration is expected to soon finalize a rule banning oil and gas leasing near a Native American historical site despite heavy opposition from local Indigenous leaders, who say the administration’s rule would prevent them from collecting royalties on their land.  The rule, which the Department of Interior (DOI) announced in November 2021, would implement a 20-year moratorium on federal oil and gas leasing within a 10-mile radius of the Chaco Culture National Historical Park located in northwest New Mexico.
  • Gas, a ‘bridge fuel,’ dominates U.S. power at any price. Surging natural gas prices normally result in booming coal generation. But 2022 isn’t normal. Power companies are shrugging off the highest gas prices in over a decade as they ramp up electricity generation at U.S. gas plants, which are producing 7 percent more power through September compared to last year. Coal generation, by contrast, is down 8 percent.  The unusual dynamic reflects the energy transition in America. Gas has long been referred to as the bridge fuel that would connect a period of declining coal usage to a future ruled by renewables.
  • Stuck on the natural gas bridge. If you thought your summer utility bill was high, brace yourself for winter’s electricity costs.  That’s in part because Russia’s invasion of Ukraine and a surge of U.S. exports to energy-starved Europe are driving up the price of natural gas — the major fuel source for Americans’ electricity supply. In normal times, a significant uptick in the cost of natural gas would cause power companies to switch much of their output to cheaper-but-dirtier coal — but as POLITICO’s E&E News reporter Benjamin Storrow writes today, there’s nothing normal about this year.

The Shale Gas News sponsored by Linde Corporation

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