Anne Blankenship: Media attacks on oil and natural gas unwarranted https://t.co/BE1zjS2Psz
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The Federal Energy Regulatory Commission, which plays a vital role in making sure the national electrical grid is functional, is back in business.
The Senate approved two new nominees last week, giving the board three members.
Acting Chairwoman Cheryl LeFleur said the commission will work to address matters that have been idled.
Natural gas is now our main source of electricity, and thanks to the shale production revolution prices collapsed from $8.86 per MMBtu in 2008 to just $2.52 in 2016. Prompt month September prices are now below $2.80, a shoulder month and blue weather maps for the next two weeks mean a bearish market. So far this summer, although hotter on the low demand Western coast, we simply haven't had a prolonged heatwave to increase prices.
The Senate voted Thursday evening to confirm two of President Trump's nominees to the Federal Energy Regulatory Commission (FERC), paving the way for the commission to have its first quorum in six months.
Neil Chatterjee and Robert Powelson were confirmed by unanimous consent and are slated to join the five-member board, which has seen its action paused since February following a pair of retirements.
Charleston, WV – According to a Pricewaterhouse Coopers report released on Aug. 1, West Virginia’s natural gas and oil industry supported 70,900 jobs (direct and indirect) and added $8 billion to the state economy in 2015, the most recent year for which a consistent set of national and state-level data by industry are currently available.
Additionally, the report found that West Virginia ranks 8th nationally in terms of the number of workers supported by the industry as a percentage of all employment.
Charleston, WV – Natural gas production continued its upward trend in 2016, with a slight increase of more than 32 Bcf or approximately 2.5 percent over 2015 production levels, according to data from the West Virginia Department of Environmental Protection.
Natural gas production for calendar year 2016 rose to 1,347,619,374 Mcf compared to 2015 production of 1,315,247,819 Mcf.
“The continued growth in production, despite a challenging price environment, is a credit to our hardworking women and men, and to evolving technology, which is a hallmark of this industry,” said Anne Blankenship, Executive Director of the West Virginia Oil & Natural Gas Association (WVONGA). “This growth is benefitting all West Virginians by creating jobs and a stable tax base. However, while it’s good to see growth, West Virginia’s production increases are outpaced by production in Ohio and Pennsylvania,” Blankenship said. “Those states have modernized mineral development laws to allow for longer laterals and more production.”
Blankenship said Doddridge County (334,486,963 Mcf) was by far the largest natural gas producing county in 2016, followed by Wetzel County, which generated 208,657,073 Mcf.
by Victoria L. Cann STAFF WRITER Jul 16, 2017
CLARKSBURG — Oil and gas officials continue to be optimistic about the industry’s future in West Virginia.
Scott Freshwater, president of the Independent Oil and Gas Association of West Virginia, said although the price of natural gas in the Appalachian basin is discounted right now because there’s such an oversupply, there are factors that could boost the price.
There’s a lively debate going on in West Virginia’s Eastern Panhandle that involves a proposed pipeline to bring much-needed natural gas, the cleanest burning fossil fuel, to the energy-hungry region.
Business organizations — representing those who actually employ people, pay them and generate revenue — are strongly in favor of Mountaineer Gas Co. building the pipeline extension from just north of the Potomac River at the West Virginia-Maryland border into Jefferson County.