September 29th, 2022

• Natural Gas is the most affordable, clean, efficient, and reliable fuel on earth. Europe and California are learning this the hard way, let’s not follow them blindly. TEA
• More natural gas produced; no relief on heating bills. Forbes
• Leaks on Russian gas pipelines raise concerns about sabotage. AP News
• Wind turbines spark battle in rural Ohio. WSJ
• Climate change bill will reach $23 trillion over time. Oil Price
• Cow manure, natural gas power fleet. State News

When oil and natural gas prices skyrocket, countries don’t turn up the wind and solar production. They turn up the coal production. It appears that Europe is going the wrong direction.

Unlike coal, investment in natural gas is good for C02 reduction. Sanctions imposed in response to the invasion of Ukraine have cut many European countries off from supply of power-generation fuels from Russia, driving up prices for electricity in Europe to record levels.

Facts:

• Since 1970, combined emissions of key pollutants have dropped by 78% in the U.S.
• America is the world leader in lowering carbon emissions, largely because of increased use of natural gas for electricity generation.
• Natural gas is responsible for 61 percent of U.S. electricity generation CO2 reductions.
• In 2020 alone, the shift to natural gas provided an emissions reduction equivalent to 150 coal-fired power plants operating for a year
  Forecasts say it is only going to get worse. Heating costs for the upcoming winterseason are expected to increase by 17%, mainly impacting lower-income families, according to a new report from National Energy Assistance Directors Association.

Bottom Line: If you are pro-natural gas, you are supporting a cleaner environment. Let’s move forward by unleashing the power of natural gas — abundant, clean and affordable energy — for today and tomorrow.

Senator Joe Manchin (D-West Virginia) got caught in a game of political high-stakes poker. Frankly, the centrist Democrat gambled and supported the Inflation Reduction Act. He had hoped to receive, in return, permitting reform that would have fast-tracked the Mountain Valley Pipeline.

Manchin took to Twitter to explain his decision:

• The most contentious piece of the legislation was Manchin’s plan to streamline the permitting process for energy projects and make it easier for the MVP project in his home state and Virginia to proceed.
• This jeopardizes the pipeline project, with thousands of  jobs and tax revenues hanging in the balance.
• This was a bad amendment and it’s good that it got left on the cutting room floor because it cedes state power to the Federal Energy Regulatory Commission.
• Fellow Senator Shelley Moore Capito (R-West Virginia) agrees, saying in a statement: “I was prepared to support the bill largely because it would have expedited the Mountain Valley Pipeline, which my legislation also would have done. But when legislating is done via backroom deals and with input from only one party, it is extremely difficult to garner broad support.”

Some Republicans say they believe permitting reform still could be achieved in the Senate’s lame duck session.

Bottom Line:  At the end of the day, Manchin still got taken. We all got higher prices and less reliable, costlier energy and — despite his promises — West Virginians got nothing.

Gas prices are headed in the wrong direction, once again. Over the past week, the national average is up 10 cents from $3.69 to $3.79, as demand has increased and supply is tight. The impact that Hurricane Ian will have on gas prices remain to be seen, however, it will assuredly raise prices for Florida residents.

Looking ahead, experts project crude oil prices to reverse course from their recent descent. Citing tight supply with little in way of new production hitting the market, traders are bullish on crude oil, projecting price per barrel to hit $95 before the end of the year, and over $100 in 2023. Consumers should be prepared for gas prices to stay high for the foreseeable future.

FERC Conference On Transmission Planning: On Thursday, October 6, the Federal Energy Regulatory Commission will hold a technical conference on transmission planning and cost management.

“Pennsylvania is a leader in the production of natural gas and coal. The Biden Administration has launched an attack on the energy industry stifling domestic energy production and weakening the U.S. position in energy production.”

— Dr. Mehmet Oz, Pennsylvania Senate candidate.

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