Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
marmico wrote:To a rounding error, the US was a natural gas net exporter in 2017.
https://www.eia.gov/dnav/ng/hist/n9180us1A.htm
The Coal Industry Extracted a Steep Price From West Virginia. Now Natural Gas Is Leading the State Down the Same Path.
“It’s déjà vu for the people who sat here 130 years ago and gave away our coal wealth to big out-of-state companies,” one state senator said. “That’s what we’re about to do again.”
Should prudence and integrity hold sway, generations to come will benefit enormously
rockdoc123 wrote:Should prudence and integrity hold sway, generations to come will benefit enormously
Aye...and something I firmly believe in. If the normal Joe on the street was made aware of all the issues...OK. there is climate change and this is what folks say about it from both sides, and there is this about transportation of hydrocarbons the facts versus Greenpeace claims etc...they then could start to make some sense of it all. Instead, they are inundated by incredibly uneducated people telling them that "the bulk of scientists believe this" or "pipelines will destroy our way of life" which is not only largely lies but also not important to the understanding of....what do we do going forward. There is far too much politicization of what Joe Blow (who actually never took science beyond high school) believes is scientific fact versus what should be the normal discussion amongst scientists which involves ranges of the importance of immediate effect, ranges or eventual outcomes and ranges of related impacts.
Instead, we need to embrace the fact we need hydrocarbons from all sorts of sources for decades until alternatives can replace them (if they can...the numbers don't convince me as yet). But we can get those hydrocarbons relatively safely. It is amazing to me that folks here have not been paying attention to the new tech coming out of the oil industry that is focussed on making that industry "greener" (a term I hate because it has bad implications that are not bounded by science). There are all sorts of things that are out there right now from zero emissions well site to full recycling of injected water through the complete elimination of all exhausted gases.
I am a full believer we need to move away from oil and gas as our main energy source but I also know this can't be done in a very short time...there is not enough source from alternatives to replace it now or in the near future. The statistics are not the friends of those who say we can just stop burning fossil fuels. It doesn't work.
That being said we can be a lot smarter about what we do and we can continue to implement good EV tech and other similar things. We do, however, need to make sure that the Hoy Paloy isn't expecting some sort of energy panacea in the next few years....it ain't happening ...in fact, we are stuck with hydrocarbons for many decades as far as I can tell. I am, however, hoping for the ability out where I live in the country to have a number of back up charging cells (AKA Tesla) installed in my barn...and when they have reliable all wheel drive EV's I will probably buy one...but I doubt I will get rid of my back up ICE pickup.
Chesapeake beefs up shale gas play with $2.5 bln Chief E&D deal
Jan 25 (Reuters) - Chesapeake Energy Corp (CHK.O) said on Tuesday it will buy privately held oil and gas producer Chief E&D Holdings LP for about $2.5 billion expanding its position in the gas-rich shale plays of the U.S. northeast.
The acquisition by Chesapeake, a U.S. shale gas and oil producer that emerged from bankruptcy just last year, underscores the recovery of parts of the energy industry as commodity prices surge.
Reuters reported exclusively last week that Chesapeake was in advanced talks to buy Chief E&D.
Chesapeake will buy the company and some stakes held by Chief E&D's asset partner for $2 billion in cash and about 9.44 million worth of shares. That represents a deal value of about $2.6 billion, according to Reuters calculations, based on Chesapeake's last close.
Chesapeake also agreed to sell its Powder River Basin assets in Wyoming to Continental Resources Inc (CLR.N) for about $450 million on Tuesday.
Chief E&D, founded and controlled by Texan Trevor Rees-Jones, was launched in 1994. The company operates in the Marcellus shale in northeastern Pennsylvania and has around 600,000 net acres, producing more than 1 billion cubic feet per day of natural gas.
Chesapeake has focused on natural gas production, a return to its roots as a company founded in 1989.
The sale of Chief E&D will be the latest combination of U.S. natural gas producers in the last few months. Chesapeake last year bought Vine Energy for $615 million, while EQT Corp (EQT.N) bought Alta Resources.
The Chief E&D deal will immediately add to production and cash flow, the companies said, adding that they expect annual cost savings of $50 million to $70 million.
Chesapeake also said it plans to raise its annual dividend by about 14% from the second quarter to $2 per share.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
No elaboration on what the energy alternatives actually are...
"Hydrocarbons from all sorts of sources"....there are no other sources.
"I am a full believer we need to move away from oil and gas as our main energy source..." but you have no idea what it is. LOL
ROCKMAN wrote:So, who wants to bet their (and their children/grandchildren) economic future on wind and solar ramping up fast enough? And do so while hoping natgas hangs in there for another 30+ years?
Pops wrote: I can't figure out why all of a sudden there is the gas problem when it was going to be the "brige fuel" - bridge to nowhere more like.
dissident wrote:Elasticity of supply from tight gas plays ain't all it's cracked up to be.
coffeeguyzz wrote:Pipelines ... more precisely, lack of.
Canada has an asston of natgas that still ships into the US.
Of course, the LNG plant in Boston harbor brings in gas from Trinidad, Yemen, Russia, cuz the stuff a short car ride away is that stinkin' no good fracked stuff.
Better to pay $175/mmbtu spot on January 5 at Transco Zone 6 than $4 bucks everywhere else.
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