Facts & Rumors # 558
June 29, 2024
Supreme Court to Hear Case to Limit Agencies’ Powers. Energy sector braces for Supreme Court NEPA case. E&E News. A new Supreme Court case is seeking to limit federal environmental reviews for energy infrastructure projects — throwing the spotlight on conservative justices who have sought to restrict agency powers. The case the justices Monday agreed to hear next term, may allow the court to set boundaries for how much agencies can consider under the National Environmental Policy Act. This latest case comes after the court’s 6-3 conservative majority has curtailed agency powers to take broad steps to protect air and water — including a 2022 decision that limited the EPA’s ability to regulate carbon dioxide emissions that cause climate change.
Power Problems in Southern States. ‘Very serious’: gas supplies in southern states under pressure, analysts warn. The Guardian. Gas supplies in southern states are likely to remain strained the rest of this winter, and the problems will worsen without the urgent addition of more backup resources, analysts including the market operator say. Gas-fired power generation has also been doubling that expected on some days amid unusually calm periods, and gas production at Victoria’s Longford plant has dropped because of unscheduled maintenance. Rick Wilkinson, the CEO of EnergyQuest, described the situation as “very serious” and he predicted the state would “need a backup” to handle peak winter gas demand from 2026.
Energy Production Exceeds Consumption. US energy production exceeds consumption by widest-recorded margin. Reuters. U.S. energy production overshadowed consumption by 9 quadrillion British thermal units (quads) in 2023, according to an analysis released by the U.S. Energy Information Administration (EIA) on Wednesday that showed the widest margin in records dating the analysis found, while energy consumption eased 1%. The 2023 rise in U.S. energy production was driven by increases in natural-gas and crude-oil production, the analysis found.
PA Benefits from O&G. Pennsylvania benefits greatly from its oil and natural gas industry. Pennsylvania Live. A lot of people don’t know that America’s first oil well was drilled right here in Pennsylvania in 1859. Titusville, the home of the first well, was a mere 250 people in 1859. Within five years of the new well, the population grew to over 10,000 people. Neighboring Pithole went from four log-cabins to a city with more than 50 hotels. With approximately 424,000 total jobs supported, including over 93,000 direct positions, and more than $40 billion in labor income generated annually, the natural gas and oil play a vital role in Pennsylvania’s employment landscape and overall economic health.
OH Bill Supports Pipelines. Thanks, MDN. A bill proposed by two Republican state lawmakers in Ohio, House Bill (HB) 349, makes it easier to site and build natural gas pipelines to areas of the state where pipelines currently don’t exist (see Ohio Bill Encourages New NatGas Pipelines to Spread Across State). The bill will create new jobs by running pipelines to industrial parks and businesses not currently serviced by NatGas. The aim is to stimulate new jobs and opportunities in Buckeye State, a smart strategy. Good news: HR 349 was just passed by the full Ohio House and now moves on to the Senate.
Crude Imports for the Summer Driving Season. U.S. crude imports touch two-year high despite lukewarm demand. Reuters. U.S. crude oil imports last month rose to a nearly two-year high as refiners scooped up heavy crudes from Canada and Latin America to process into fuels for summer driving season. Imports of crude oil rose to 3.1 million barrels per day (bpd) in May, the highest since July 2022, data from ship tracking service Kpler showed. Imports so far this month have remained strong, at around 2.9 million bpd to date.
U.S. Shale Has Room to Run. U.S. shale’s “long sideways” movement suggests room to run. Oilprice. While last week’s rig count from Baker Hughes showed U.S. oil drilling activity still in a downward trajectory, hitting a 29-month low, Standard Chartered suggests that neither the output slowdown nor the seemingly hesitant drilling has been priced into the market yet. Since November 2022, U.S. drilling activity has plunged 23%, with Standard Chartered noting that “several large companies seem to have moved far away from growth maximization and are now close to a policy of simple output maintenance,” despite rising crude oil prices.
PA Passes Bill to Use Federal Energy Funds. Pa. House passes bill that would allow the state to use federal funds for energy development. Pennsylvania Capital-Star. Legislation aimed at restructuring the Pennsylvania Energy Development Authority (PEDA) passed the Pennsylvania House on Tuesday. “This bill will simply give PEDA, an existing authority, permission to seize federal money, multiply it with private capital, and initiate energy projects,” state Rep. Elizabeth Fiedler (D-Philadelphia), who introduced House Bill 2338 said Tuesday, adding it would help create jobs. Supporters of the legislation say if this bill becomes law, PEDA can own energy projects which would allow it to use funding from the Inflation Reduction Act (IRA) and the Bipartisan Infrastructure Law (BIL) to invest in clean energy projects.
PA Permits June 17, to June 27, 2024
County Township E&P Companies
1. Susquehanna Dimock Coterra
2. Susquehanna Dimock Coterra
3. Susquehanna Dimock Coterra
OH Permits June 16, to June 22, 2024
County Township E&P Companies
1. Guernsey Center EAP OHIO
2. Guernsey Center EAP OHIO
3. Guernsey Center EAP OHIO
4. Guernsey Center EAP OHIO
WV Permits June 17, to June 21, 2024
1. NO NEW PERMITS
