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 the Biden Energy Plan, PennEast Pipeline, public lands 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. Last week we played commentary from the press conference held LCCC where Rep. Aaron Kaufer, State Senator John Yudichak discussed the passage of HB732 and the signing of the bill by Governor Wolf. This week we are playing the rest of that press conference with Senator John Yudichak and Joe Gusler, president of the Central Pennsylvania Building and Construction Trades.
The Shale Gas News, typically, is broadcast live. On the August 8th show (click above), we covered the following new territory (see news excerpts below):
- Oil, Natural Gas Industry Continues Efforts to Aid Customers Hit Hard by Pandemic. As the original expiration date has expired for most moratoriums on utility shut-offs for nonpayment, several companies within the oil and gas industry continue to support their customers during the Covid-19 pandemic. Since March, NGI has reported on the efforts of more than 57 domestic and international corporations, foundations and utilities as they responded to the outbreak by implementing customer assistance programs or suspending disconnection for nonpayment.
- Trump Signs Law to Fund Public Land Maintenance with Offshore Oil and Gas Royalties. U.S. President Donald Trump on Tuesday signed into law a rare bipartisan bill that will use royalties from offshore oil and gas drilling operations to fund long-overdue maintenance of public lands, national parks, and Native American schools. Trump said more than 5,500 miles of road, 17,000 miles of trails and 24,000 buildings were in critical need of repair.
- US senators aim to ease pipeline permitting after latest Keystone XL setback. US Senate Republicans from energy-producing states are pushing for infrastructure permitting reforms after a fast-track program came under court challenge this year and became the latest roadblock for the Keystone XL heavy crude pipeline. Senator John Cornyn of Texas introduced Aug. 4 a bill to amend the Federal Water Pollution Control Act “to clarify certain activities that would have been authorized under Nationwide Permit 12 and other Nationwide Permits,” according to the preliminary text of the bill.
- BP to cut oil and gas production by 40% over 10 years. BP plans to cut oil and gas production by 40 percent over the next decade to help meet its net-zero emissions goal by 2050. The British oil major on Tuesday said it will slash production by at least 1 million barrels per day by 2030. The move will reduce output to about 1.5 million barrels per day from 2.6 million barrels per day in 2019, and lower emissions from operations by 30 to 35 percent by 2030.
- Market indicator of oil and gas bankruptcy risk falls by half. Despite the second quarter’s string of bankruptcies, stock market investors’ assessment of default risk in the oil and gas sector has been cut roughly in half, according to S&P Global Market Intelligence’s market signal of default metric. The probability of default metric — which combines stock market performance and finance fundamentals and functions under the logic that investors do not put money into failing companies — had spiked higher in March and April after oil prices plunged to record lows as coronavirus lockdowns destroyed demand.
- US FERC releases favorable environmental review for PennEast Pipeline. In a step forward for the stalled PennEast Pipeline project, staff of the Federal Energy Regulatory Commission has found the developers’ new plan to divide the project into two phases would not constitute a major federal action significantly affecting the environment. The roughly 118-mile, 1.1 Bcf/d natural gas pipeline project, originally intended to link Marcellus Shale dry gas production with markets in Pennsylvania, New Jersey and New York, has faced regulatory hurdles in New Jersey, and an appeals court ruling thwarting its ability to condemn lands in which the state held an interest.
- What Do Oil Groups Think of Biden Energy Plan? Any plan that seeks to undermine the oil and gas industry will set back climate progress and put workers out of jobs. That’s what Todd Staples, the president of the Texas Oil & Gas Association (TXOGA), told Rigzone when asked for comment on 2020 president hopeful Joe Biden’s clean energy plan, which the former vice president unveiled in July. “The oil and natural gas industry is leading the way on environmental progress, implementing real solutions to address climate concerns while providing affordable and reliable energy that benefits every family,” Staples said in a statement sent to Rigzone.
The Shale Gas News sponsored by Linde Corporation
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