External Affairs Coordinator, Cabot Oil & Gas
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 gas prices, Moon’s helium-3, 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 natural gas. The week, as a guest, we had Stephen Bloom, Vice President of Commonwealth Foundation. We also played part 2 of the interview with Senator Gene Yaw, of Pennsylvania’s 23rd District.
The Shale Gas News, typically, is broadcast live. On the March 13th show (click above), we covered the following new territory (see news excerpts below):
- Shale’s Private Army Ramping Up Means Supply Wild Card for OPEC. The battered and bruised U.S. shale industry is finding a resurgence in one of the most unlikely places: private operators most investors have never heard of. Take the case of little known, closely held DoublePoint Energy. It’s now running more rigs in the Permian Basin than giant Chevron Corp. Meanwhile, family-owned Mewbourne Oil Co. has about the same number of rigs as Exxon Mobil Corp.
- Biden returns to Obama-era greenhouse gas calculation. The Biden administration announced Friday that it will temporarily return to an Obama-era method for calculating benefits to the climate when it makes regulatory decisions. A blog post on the White House’s website says that it is replacing the prior administration’s estimates for the “social cost of greenhouse gases” with those developed “prior to 2017.”
- With Oil Above $60, What’s Good For The U.S. Might Not Be So Great For You. The price of oil is back above $60 a barrel on global markets, the impact of which is complicated by something that had not happened in this country in at least a half century. For the first time since the era of the Arab oil embargos in the 1970s, the value of U.S. oil exports relative to oil imports is more “balanced” than overall U.S. trade, according to my research.
- $3 gasoline could be around the corner — unless OPEC and Russia start pumping more oil. OPEC and Russia’s unprecedented production cuts last spring lifted oil prices out of a death spiral. Nearly a year later, the group is under pressure to cool off the red-hot market. US crude has raced back above $60 a barrel. That’s a far cry from the depths it reached last April when oil crashed below zero (negative $40.32 a barrel, to be exact) for the first time in history. Prices at the pump are starting to creep higher, too. The national average hit $2.70 a gallon Friday, according to AAA. That’s well above the April low of $1.76 per gallon.
- Solving the climate and energy crises: Mine the Moon’s helium-3? Recently, U.S. Nuclear Corp. and Solar System Resources Corporation signed a letter of intent that will either change the history of the world or be just a footnote in humanity’s quest to develop clean, abundant sources of energy. Solar System Resources has agreed to provide 500 kilograms of helium-3 mined from the Moon to U.S. Nuclear Corp. in the 2028-2032 timeframe.
- Biggest Withdrawal from Underground NatGas Storage in 2 Years. While the weather is, without a doubt, the biggest influence on the price of natural gas, there is another key influence that traders watch closely: storage numbers. Natural gas is stored mainly in large underground caverns during in the “summer” months (called “injection season,” April through October). Natgas is later withdrawn for use during the “winter” months (“heating” or “withdrawal” season, November through March).
- Prediction: The U.S. is Heading for NatGas Storage Crisis Next Winter. While the recent spike over the past week in natural gas prices was a fluke, an anomaly due to a rare snow and freezing cold event in the nation’s southwest and Midcontinent regions, the long-term price of natural gas has not moved all that much. The NYMEX futures prices for natgas month by month for the foreseeable future has stayed under or just above the $3/MMBtu mark. Yet we continue to see predictions of alarm that we’re heading for a natgas shortage and with it, a rise in gas prices.
The Shale Gas News sponsored by Linde Corporation
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