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Bloomberg reports.. India’s Diesel, Gasoline Sales Taper Off Adding to Oil’s Gloom——————
• Fuel demand in India typically declines during monsoon rains———-
• July 1-15 fuel sales witness first monthly fall in 3 months————————-
German Regulator Says Nat Gas Prices May Have Stalled, Bild Reports———-
• Germany’s top grid agency chief sees gas prices at plateau———-
• Says nation should be ready to share gas with neighbors
So true. Texas Rinos have sold Texan energy needs to the progressive left.
It’s the number 1 reason NOT to escape to Texas. Such a great place, but their grid is high risk.
I pray this was just an act of God. If Antifa is now targeting our grid, good help them. That becomes shoot to kill.
Explosion Rocks Oklahoma Natural Gas Plant
BY TYLER DURDEN
SUNDAY, JUL 10, 2022 - 10:06 AM
A natural gas gathering and processing facility near Medford, Oklahoma, exploded Saturday afternoon and could disrupt the flow of hydrocarbons to energy export hubs on the Texas Gulf Coast.
Oneok, Inc., a leading midstream service provider and the operator of a major natural gas liquids (NGL) systems, experienced an explosion at its NGL fractionation facility in Medford, about 85 miles south of Wichita, Kansas.
One Twitter user points out there has been a spate of fires and explosions at oil/gas facilities or pipelines in the last month (similar to the mysterious fires at food processing plants), and the most significant disruption so far has been Freeport's LNG export terminal catching firing last month, curbing some LNG exports to Europe.
J Mal
@EPUnum_
·
Follow
Replying to @EPUnum_
2/4 July 9, 2022- ONEOK natural gas plant explosion (Medford, OK)
July 7, 2022- Energy Transfer pipeline explosion (Wallis, TX)
Jun. 27, 2022- Petro Star refinery explosion, (VALDEZ, AK)
Jun. 8, 2022- LNG natural gas plant explosion (Freeport, TX)
@hackableanimal
10:04 PM · Jul 9, 2022
Details are scant about what disruptions the ONEOK fractionation facility has caused. Still, if there were any, it comes at an inopportune time for the Texas power grid (powered half by NatGas) set to experience record demand as soaring heat boosts cooling demand by households and businesses…
Bad news for LNG? WASHINGTON, July 8 (Reuters) - Cheniere Energy Inc (LNG.A) has asked the Biden administration to exempt it from limits on emissions of cancer-causing pollutants, arguing they would force the top U.S. exporter of liquefied natural gas to shut for an extended period and endanger the country's efforts to ramp up supplies to Europe, according to documents reviewed by Reuters….
Can’t wait to see how this pans out with Larry Fink running Blackrock. He is the biggest reason on Earth to cause attacks on the Petroleum industry. And he’s using YOUR!!! money to do it. GreenNew Deal is DOA. Nat Gas is not going anywhere soon. Look into shipping too
https://www.bnnbloomberg.ca/natural-gas-soars-700-becoming-driving-force-in-the-new-cold-war-1.1787721
EU Imports More U.S. LNG Than Russian Pipeline Gas For The First Time Ever
By Tsvetana Paraskova - Jun 30, 2022, 11:00 AM CDT
For the first time in history, U.S. LNG overtakes Russian piped gas in EU.
IEA: The drop in Russian supply calls for efforts to reduce EU demand to prepare for a tough winter.
In April 2022 alone, five European countries—France, Spain, the UK, the Netherlands, and Poland—accounted for 54.1% of total U.S. LNG exports.
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For the first time ever, the European Union has imported in June more liquefied natural gas (LNG) from the United States than gas via pipeline from Russia, as Moscow slashed supply to Europe earlier this month, Fatih Birol, Executive Director of the International Energy Agency (IEA), said on Thursday.
“Russia’s recent steep cuts in natural gas flows to the EU mean this is the 1st month in history in which the EU has imported more gas via LNG from the US than via pipeline from Russia,” Birol tweeted today, sharing an analysis from the IEA.
“The drop in Russian supply calls for efforts to reduce EU demand to prepare for a tough winter,” the head of the Paris-based agency added.
The significantly lower supply from Russia since the middle of June and the upcoming annual maintenance at Nord Stream that will completely halt deliveries through the pipeline for two weeks in July have left Europe scrambling to fill gas storage sites to adequate levels before the winter.
The EU has been importing record volumes of American LNG in recent months, although analysts say LNG imports alone cannot replace Russian pipeline gas.
The European Union and the UK saw a record high level of LNG imports in April, as higher spot prices in Europe compared to Asia attracted suppliers with destination flexibility to ship LNG to Europe. Those suppliers were mostly from the United States, the EIA said earlier this month.
In April 2022 alone, five European countries—France, Spain, the UK, the Netherlands, and Poland—accounted for 54.1% of total U.S. LNG exports, data from the U.S. Energy Department showed earlier this month.
Despite the record intake of American, and other, LNG, Europe still faces supply troubles this winter if it doesn’t take measures to conserve energy, analysts and the IEA say.
Europe faces a “red alert” for gas supply next winter, Birol said earlier in June.
“Recent disruptions to natural gas supplies, notably Russia steeply cutting flows to EU countries, is set to remove around 35 billion cubic metres of gas from the market this year, posing big challenges to efforts to refill storage. This is a red alert for the EU for next winter, Birol tweeted in mid-June.
By Tsvetana Paraskova for Oilprice.com
Major Gut punch for the Green New Deal. The left remains unhinged for the third time in June.
https://www.cnbc.com/2022/06/30/-supreme-court-says-epa-lacks-authority-on-climate-standards-for-power-plants.html
Only Blue States will have Gun laws, abortion and carbon credits forced to their citizens. Thank God I’m in the South.
June15th PR. I can makes $1.2B off LNG after he fires The GodFather because he was banking $20m a year salary?
Does this sound odd to anyone?
Carl is an old Corporate raider. Guess he say a buck in LNG.
I wish the Company would roll CPQ into LNG and pay LNG shareholders the dividend.
I never understood why they configured the Company this way.
The pipes have to be at 100% capacity
I’ve been rolling gains into the shipping side.
My only mistake in LNG was not investing in my IRA
It’s not just about staying warm in the winter. A/C is never going away. Maybe when we are chasing our lunch with a stick.
China is loaded with gas supplies. I knew they were going to use what they had. Talking big about selling their over supply. Bull Chit.
https://www.nasdaq.com/articles/chinas-heatwaves-drive-power-consumption-to-record-highs
Germany returns to coal. Economy Minister Robert Habeck called the decision “bitter” but “necessary”
Germany will have to boost the use of coal for electricity production to make up for the shortage of natural gas from Russia, Economy Minister Robert Habeck said in a policy paper released on Sunday and cited by Deutsche Welle.
“To reduce gas consumption, less gas must be used to generate electricity. Coal-fired power plants will have to be used more instead,” the minister said in the paper. He deplored the need to use more coal to produce electricity, as Germany, along with other EU states, has been taking steps to curtail use of the ‘dirty fuel’ and move towards green energy, but, according to Habeck, the current situation is too serious to be picky.
Israel exporting gas to Europe along with Egypt and Noble energy.
They are using the Egyptian pipeline because US turned down investment for an exclusive Israel pipeline that would have cost billions and caused conflict with Turkey not allowing pass through. A cold look at the statistics illustrates Israel’s limitations. According to the BP Statistical Review of World Energy, the country had proven gas reserves of 600 billion cubic meters (bcm) or just 0.3% of the global total. By contrast, the world’s top three gas countries were Russia with 37,400 bcm (19.9%), Iran with 32,100 bcm (17.1%), and Qatar with 20,700 bcm (13.1%). Even U.S. reserves (12,600 bcm, or 6.7%) dwarfed Israel’s.
In terms of consumption, Europe uses about 540 bcm annually. Russia reportedly provides about 40% of this, or more than 200 bcm. Yet exports from Israel’s offshore Leviathan field are only around 10 bcm, and the output from its other major field (Tamar) is used to meet domestic power demand
According to the deal, the EU will help Egypt and Israel increase their gas production and exploration in their territorial waters. It was not immediately clear how much gas the EU will import from either Israel or Egypt.
In recent years, the government of President Abdel Fattah el-Sissi rehabilitated and modernized the facilities. In 2018, Egypt signed a $15 billion deal with Israeli company Delek Drilling and its U.S. partner, Noble Energy to transport natural gas there. Egypt aims to create a regional energy hub
According to the deal, the Israeli gas will be brought via a pipeline to Egypt's LNG terminal on the Mediterranean before being transported on tankers to the European shores, Israel’s Energy Ministry said.
Washington has logical reasons to step away from an undersea pipeline project in the East Mediterranean, though the decision effectively kills Israel’s improbable dream of becoming a significant gas supplier to Europe
The U.S. decision is a killing blow to the project. And the fact that it coincides with the Ukraine crisis will likely sound the death knell for Israel’s dreams of becoming an alternative to Russia as a significant gas supplier to Europe. Jerusalem’s hopes of building a significant sovereign wealth fund from the revenues have dimmed as well.
Last month’s speech by current Israeli energy minister Karine Elharrar, who noted that her office would be focusing on renewables in 2022 (specifically solar and wind). Israel’s gas may end up being a shorter-term, less-profitable boon than expected.
Russia does not have gas line disturbances. Russia cut them off due to those member countries meeting in Ukraine over Putin’s need to secure that boarder and rid American biolabs in Ukraine. Putin is pissed.
Europe has healthy gas storage now. But wait till it’s tapped for winter. The crunch is about 90 days out. June 21st is the longest and most hot day of the year. People want their A/C.
La Niña is predicted this Winter, so it might not be that bad on supply. But ya still need to charge those car batteries..
I love your list of politicians. DC duchebag crowd. They just gave you the new gun laws.
I can’t wait for Nov.
Regardless what happens in Nov, UGA will still be National champs, and American gas will be the commodity the rest of the world wants
Qatar Nat gas Wells will continue to become more expensive as they continue to need even more pressure to extract their dwindling gas. Isreal’s massive 200 year pocket of Nat gas is 350’ below the surface of the sea. Russia is going to stick to its guns. It’s a set up for American gas.
And the Freeport explosion is going to take even longer to repair. Tellurian is 4 years out. I’m thinking shipping is the safer bet. Holding what I got now. My war chest is full.
Buy the healthy dips. (France no longer taking Russian pipeline gas.)
Why would the politicians in Washington stop taking their lobbyist (bribe) money from Oil and Gas companies. Business as usual in the Capital.
The country’s network operator says supplies stopped on June 15
Gas flow from Germany to France has been halted, French gas transmission system operator GRTgaz reported on Friday, adding that the nation hadn’t received any natural gas from Russia via the pipeline since June 15.
The operator also said that French gas storage facilities were filled to 56% of capacity, up from 19% in mid-March, stressing that France wouldn’t face any difficulties in meeting summer demand for the energy source.
Earlier this week, Russian energy giant Gazprom warned that it would sharply cut its gas deliveries to Europe over technical issues arising from Western sanctions. The company said that German energy equipment operator Siemens Energy failed to return repaired gas pumping units for the North Stream pipeline from a maintenance facility in Canada due to the country’s embargo on Russia.
France receives nearly 17% of its gas from Russia through network connections with Germany, which relies heavily on Russian energy supplies. The cut-off in Russian deliveries to France follows similar curtailments in Gazprom’s supply to Germany and Italy.
European importers of Russian gas have condemned Gazprom’s move as “political”, saying that the Kremlin uses energy to punish EU member states for supporting Ukraine.
Russian gas supplies to Europe via the Nord Stream pipeline have reportedly been reduced by 60% this week, sending prices for the fuel soaring. On Thursday, Dutch wholesale gas prices, the European benchmark, surged to more than $1,500 per thousand cubic meters for the first time since April.
Congress members that receive the most cash from
Oil & Gas Lobbyists 2022—-
Top 20 Recipients——-/-/
Rank /—-Candidate ——Office ////Amount//——
1 Manchin, Joe (D-WV) Senate $724,270—
2 McCarthy, Kevin (R-CA) House $396,284-//-/
3 Lankford, James (R-OK) Senate $275,148—-
4 Pfluger, August (R-TX) House $268,011-/-
5 Kennedy, John (R-LA) Senate $264,788—-
6 Murkowski, Lisa (R-AK) Senate $249,808——
7 Sinema, Kyrsten (D-AZ) Senate $230,160—-
8 Hunt, Wesley (R-TX) $222,283-//-/-/-
9 Fletcher, Lizzie (D-TX) House $191,765
——10 Cuellar, Henry (D-TX) House $191,450—
11 Scott, Tim (R-SC) Senate $181,291—-
12 Scalise, Steve (R-LA) House $181,263—
13 Gonzales, Tony (R-TX) House $174,461//—
14 Rubio, Marco (R-FL) Senate $165,636——
15 Rodgers, Cathy McMorris (R-WA) House $157,961——-
16 Crenshaw, Dan (R-TX) House $157,502—-
17 Herrell, Yvette (R-NM) House $144,302——
18 Hoeven, John (R-ND) Senate $140,585—
19 Crapo, Mike (R-ID) Senate $136,990—
20 Cheney, Liz (R-WY) House $136,790-/-
Industries in this Sector:
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METHODOLOGY: The numbers on this page are based on contributions from PACs and individuals giving $200 or more.
All donations took place during the 2021-2022 election cycle and were released by the Federal Election Commission on Monday, May 23, 2022.
Feel free to distribute or cite this material, but please credit OpenSecrets. For permission to reprint for commercial uses, such as textbooks, contact OpenSecrets: info@crp.org
https://www.opensecrets.org/industries/recips.php?ind=E01++
Once again arrogant Europeans that have been taking advantage of American good will for generations while trashing the USA at every turn on the World stage, trying that with Putin.
NOT!
https://money.usnews.com/investing/news/articles/2022-06-16/russian-gas-flows-to-europe-fall-further-amid-diplomatic-tussle
Once China takes Taiwan, America should take Venezuela.
Then clean house all the way North to Texas.
Who’s going to stop us? The UN?
America has no balls. That’s what will stop us.
Natgas/USD hit new high. $9.57.
IMO
This gonna go faster nd faster..
IMO
Wow.. Look at that levell 2 data? Soon to be 1 share on bid and ask instead of 100? Crazy thin!
IMO
I bet this going $200 soon.. Daily show MACD has cross at the bottom..
IMO
LNG $200 in eyes view with new European sanctions and Nat gas next as Europe will bow for triple more expensive shipped US Nat gas…Crude Oil to $200 as Europe will have to depend on much more expensive shipped crude oil from Saudi Arabia instead of cheap pipeline Russian crude oil being shut down.
The Wall Street Journal reports European Union Pledges to Curb Oil Purchases From Russia
The EU has a huge credibility problem and it is not just Hungary.
Sanctions have increased the price of oil (China and India still buying), and the ruble is the best performing currency vs the US dollar.
It's not just oil. Natural Gas supply chain is also ridiculous.
To not buy Russian natural gas, the EU will buy LNG from the US to the detriment of the environment to boot
And Russia now building NG lines to China!
The stupidity of this is staggering.
LNG $200 by summer let’s go!!
Gazprom making lots of cash…Russia is laughing all the way to the Bank and laughing at Biden as it avoids all sanctions and can continue to earn rubles for gas from Germany and Europe, and it can continue to earn foreign exchange from other countries that it’s selling its agriculture to at rising prices, its oil and gas at rising prices, too. So obviously, the balance of payments is going way up and Russia is becoming much wealthier as a result of Biden’s sanctions. Russia energy profits and agricultural up 50% since the war begun as Russia becomes richer..
Venezuela has the hottest growth economy now with Oil pumping..
Ecuador’s leftist former president Rafael Correa tweeted a screenshot of an April 6, 2022 Credit Suisse report on Venezuela, which appears to be private, predicting 20% growth in 2022 and 8% growth in 2023.
“These are not typos!” the Swiss bank wrote.
If we are accurate, these might end up being among the strongest growth prints globally for these years.
Credit Suisse’s prediction of 20% Venezuelan growth in 2022 and 8% more in 2023 shows that the worst of this U.S.-fueled economic crisis has passed.
Part of this recovery can be attributed to the massive rise in the price of oil.
Venezuela’s economy is very dependent on oil exports.
Credit Suisse said its forecast “is largely based on the expectation that [Venezuela’s] oil GDP will rise more than 20%.”
In addition to being an influential politician, Correa is a renowned economist, with a PhD in economics.
Correa and some of his former officials have provided economic advising to the Venezuelan government during this difficult period under blockade by the United States.
In 2015, President Barack Obama signed an executive order declaring Venezuela to be a supposed “unusual and extraordinary threat to the national security and foreign policy of the United States.”
This executive order opened the floodgate for the U.S. government to impose grueling sanctions on Venezuela.
Credit Suisse’s prediction of 20% Venezuelan growth in 2022 and 8% more in 2023 shows that the worst of this U.S.-fueled economic crisis has passed.
Part of this recovery can be attributed to the massive rise in the price of oil.
Venezuela’s economy is very dependent on oil exports, and has been for a century, since well before leftist Hugo Chávez became president in 1999 and subsequently launched the Bolivarian Revolution.
Credit Suisse said its forecast “is largely based on the expectation that [Venezuela’s] oil GDP will rise more than 20%.”
In March and April 2021, the price of a barrel of crude oil was around $20. By March and April 2022, it had skyrocketed to more than $100.
But the Venezuelan government has put significant energy and resources into diversifying its economy beyond oil production.
China, Russia, and Iran have also helped Venezuela find economic alternatives and soften the destructive impact of illegal Western sanctions.
Natural Gas
If you’re interested in researching US and Canadian O&G E&P companies participating in this natural gas and natural gas liquid boom please see EQT, OXY, AR, VET, FANG, DVN, MRO, BIREF, CTRA, PXD…just to name a few. these producers are virtually PRINTING Free Cash Flow (FCF). Most are using their FCF funds wisely…paying down debt and conducting stock buybacks like there’s no tomorrow. Really something to observe.
So…while the “HI-VALUATION” Silicon Valley “unicorn” stocks are down 50-60-70-80-90% since November…take a look at the price action on these O&G E&P stocks during that same timeframe. Yes…WOW is right. And most pay significant dividends as well. In fact many have begun a base dividend + variable dividend = TOTAL DIVIDEND program to distribute the massive FCF they’re making
Is Russia broke!
http://www.businesskorea.co.kr/news/articleView.html?idxno=93017
I know for a fact they can’t get their Nat gas from Siberia to the pipe line into Europe.
Putin is way smarter than this. But they have an economy the size of Canada. Only so much they can take on.
Biden will spin this as a win for his incompetence.
Russian tanks are expensive. Alabama made Javelins kick ass.
I don’t see Europe begging for more EVs, but gulp gulp gulp!
Asia will be next. I see a Summer of demand
https://www.nasdaq.com/articles/column-europe-fills-gas-storage-at-record-rate-as-asias-buyers-step-aside%3A-kemp
True, if that idiot stays in the White House.
Wells Fargo Adjusts Cheniere Energy's Price Target to $185 From $162, Reiterates Overweight Rating
07:13 AM EDT, 05/09/2022 (MT Newswires) -- Cheniere Energy (LNG) has an average rating of buy and price targets ranging from $118 to $185, according to analysts polled by Capital IQ.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
UBS Adjusts Cheniere Energy Price Target to $184 From $173, Maintains Buy Rating
$150 moon shot. It likes to punch that ceiling
$130 is your wet dream now. I still like adding in the other.
Research Alert: CFRA Keeps Buy Opinion On Shares Of Cheniere Energy
12:20 AM EDT, 05/05/2022 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:
Our 12-month target price of $168, raised $25, reflects a 10.5x multiple of enterprise value to projected '23 EBITDA, in line with LNG's historical forward average. We lift our '22 EPS estimate by $7.97 to $17.99, and '23's by $4.68 to $12.57. Ex-one time items, Q1 EBITDA of $3.15B, vs. $1.45B, beat consensus by $1.24B. LNG recognized $3.46B in non-cash derivative losses in Q1 (pre-tax) on international gas supply agreements. Nonetheless, LNG raised its '22 adjusted EBITDA guidance to a revised $8.2B - $8.7B range, reflecting strong demand from overseas customers for U.S.-based natural gas. Cheniere is considering approval of Corpus Christi Stage III, which if approved would add 10 metric tonnes per annum (mtpa) of natural gas liquefaction capacity, an increase of 22%. While Cheniere still carries a sizable debt load, it has no remaining debt milestones in '22, and $1.5B of debt maturing in April '23. At the end of Q1, LNG had a cash balance of $2.5B.
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
Raymond James Adjusts Cheniere Energy's Price Target to $171 From $165, Reiterates Strong Buy Rating
07:04 AM EDT, 05/05/2022 (MT Newswires) -- (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
(Bleep).. Wow!
Cheniere's LNG revenue more doubled to $7.34 billion in the first quarter and it loaded 585 trillion British thermal unit (TBtu) of LNG volumes from 476 TBtu a year earlier.
BRIEF-Cheniere Reports First Quarter 2022 Results
REUTERS 6:47 AM ET 5/4/2022
* CHENIERE REPORTS FIRST QUARTER 2022 RESULTS AND RAISES 2022 FINANCIAL GUIDANCE
* CHENIERE ENERGY INC(LNG) - RAISING FULL YEAR 2022 CONSOLIDATED ADJUSTED EBITDA GUIDANCE TO $8.2 - $8.7 BILLION
* CHENIERE ENERGY INC(LNG) - RAISING FULL YEAR 2022 DISTRIBUTABLE CASH FLOW GUIDANCE TO $5.5 - $6.0 BILLION Source text for Eikon:
With Europeans on control of price $200 possible. Just ban everything Russian and it gets there.
Nice move the Europeans going to make sure Nat Gas price goes to the moon.
EU Proposes Ban On Russian Oil Imports
In reality, we fail to see how reduced supply at this time - and thus higher prices - does anything but hurt every other nation on earth.
But then again who cares about common folk. Surely not the oil or gas lobbyists
Profits before the people ….is how good well lubed government runs…
Natgas/USD hit $8
US natural gas futures extended gains to above $7.8 per million British thermal units, close to an over thirteen-year high of $8.197 hit on April 18th, amid concerns that an early start to the cooling season could boost demand in May. Weekly natural gas inventory injections are usually highest when demand for heating/cooling is lowest, which is during Spring and Fall. However, late-season wintry weather in April caused the gap between current storage levels and the 5-year average to widen to roughly 17%, and forecasts of hot weather in May may crippled utilities’ efforts to increase stocks ahead of next winter. At the same time, output continued to face volatility amid the ongoing maintenance season. Elsewhere, efforts by the EU to wean off Russian supplies have been keeping American export facilities running at near full capacity.
https://tradingeconomics.com/commodity/natural-gas
I agree..
I am speechless.. LOL
Cheers!
IMO
Just became 10 years veterans ihubber couple weeks ago! LOL
China’s key state-run energy companies are in talks with Shell Plc to buy its stake in a major Russian gas export project, according to people with knowledge of the matter.
Cnooc, CNPC and Sinopec Group are in joint discussions with Shell over the company’s 27.5% holding in the Sakhalin-2 liquefied natural gas venture after the European firm said it would exit Russian operations following the Ukraine invasion
I had previously argued on my podcast and on my blog that even though the west was going to be ignoring Russian investments, there would definitely be a strategic buyer who would come in and scoop up what can only be described as long-term strategic energy assets from Russia.
https://www.zerohedge.com/markets/israel-dumps-dollar-chinas-renminbi
Who they gonna buy from? It’s only $1B, but hey! Bread and butter..
https://www.bnnbloomberg.ca/turkey-nears-landmark-lng-loan-in-shift-from-russian-natural-gas-1.1754294
$200 slowly on its way as President Biden has finally decided to throw in the towel, and break one of his top campaign promises to the environamentalist wing of the Democratic Party.
In a report that arrived at almost exactly 1700ET on Good Friday (also the start of Passover), the NYT revealed that the president has decided to lift the ban (initiated by executive fiat) on selling leases for new oil and gas drilling on public lands. But there's a small catch: he's also raising the federal royalties that companies must pay to drill.
Still, the administration plans to open up 145,000 acres of public lands in nine states to oil and gas leasing next week.
The Interior Department said in a statement that it planned to open up 145,000 acres of public lands in nine states to oil and gas leasing next week, the first new fossil fuel permits to be offered on public lands since President Biden took office.
This represents the abandonment of one of Biden's "signature" environmental policies (also: it's a capitulation to more conservative and moderate Democrats, who have been upping the pressure on Biden to do more to bolster oil and gas production). So far, his administration has relied mostly on SPR releases, allowing more ethanol in gas during the summer months.
The move comes as President Biden seeks to show voters that he is working to increase the domestic oil supply as prices surge in the wake of the Russian invasion of Ukraine. But it also violates a signature campaign pledge made by Mr. Biden as he sought to assure climate activists that he would prioritize reducing the use of fossil fuels.
"And by the way, no more drilling on federal lands, period. Period, period, period," Mr. Biden told voters in New Hampshire in February 2020.
However, since the administration is raising the royalty rate it demands from producers who drill or frack on public lands, oil and gas companies will still face higher costs on the new leases.
In opening up the new public lands for oil and gas permitting, the Interior Department will raise the royalty rates that companies must pay to the federal government from 12.5 percent of their profits to 18.75 percent, an increase that could bring in billions of dollars of new revenue.
Already, environmental activists are slamming Biden for his 'recklessness' and for abdicating the Democrats' "climate leadership".
“The Biden administration’s claim that it must hold these lease sales is pure fiction and a reckless failure of climate leadership,” said Randi Spivak, director of the public lands for Center for Biological Diversity. “It’s as if they’re ignoring the horror of firestorms, floods and megadroughts and accepting climate catastrophes as business as usual.”
Meanwhile, everybody else will just be happy to see lower prices at the pump...although it will take months, perhaps years, for the new supply to come on line and have an impact on the US market.
The second major oligarchic lobbyist bloc running the puppet politicians in Washington DC is the rent-extracting oil and gas sector, joined by mining (OGAM) riding America’s special tax favoritism granted to companies emptying natural resources out of the ground and putting them into the atmosphere. Like banking and real estate, the aim of this OGAM sector is to maximize the price of its energy and raw materials so as to maximize its natural-resource rent. Monopolizing the Dollar Area’s oil market and isolating it from Russian oil and gas has been a major U.S. priority for over a year now, as the Nord Stream 2 pipeline threatened to link the Western European and Russian economies together.
If oil, gas and mining operations are not situated in every voting district, at least their investors are. Senators from Texas and other Western oil-producing and mining states are the leading lobbyists, and the State Department has a heavy oil-sector influence providing a national-security umbrella for its special tax breaks. The ancillary political aim is to ignore and reject environmental drives to replace oil, gas and coal with alternative sources of energy. The Biden administration accordingly has backed the expansion of offshore drilling, supported the Canadian pipeline to the world’s dirtiest petroleum source in the Athabasca tar sands, and celebrated the revival of U.S. fracking.
The foreign-policy extension is to prevent foreign countries not leaving control of their oil, gas and mining to U.S. OGAM companies from competing in world markets with U.S. suppliers. Isolating Russia (and Iran) from western markets will reduce the supply of oil and gas, pushing prices and corporate profits up accordingly.
We should be flying with this SP. Instead we've had a pullback and wheel spinning for twenty days. Don't get it.
It’s about yo break $8 today.
This thing is going to have to pull back somewhere.
The second guessing is killing me.
Nations are stocking up for next year now.
LNG power plants will be a 24/7-365 days a year consumer of gas as EVs continue to be pushed down our throats.
3-4 hour wait in Cali to get a charging station. Wait till the heat shuts down their grid this Summer.
Thanks for the heads up.
I’m already holding aJohn Morgan play in LP&HM
He’s doing a horrible job keeping shareholders informed as to his master plan. Collecting shells for some purpose?
Maybe if it drops far enough, I’ll take a bite. Shell plays have gone to chit since Biden was placed into office. Confidence has died in the R/M sector. I’m holding 32 shells now and nada going on. I used to get a good 600%+ a month from those.
No one wants to take their cash cow Company oublic these days. Just those hurting to raise $$$$.
PM me if you got inside info. My e-mail is on my profile.
I mean if Chick Fil-a is going into this shell? Hell yes!
I just sold all my Twitter for s cool $20k. Most goes to the IRS, but I can always kick that bill down the road.
Natgas/Usd broke new high $6.53 since 2008. Last high Feb 2014 was $6.49. Hell will break loose.. Next high around $12 to $15.
IMO
https://tradingeconomics.com/commodity/natural-gas
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Liquefied Natural Gas (LNG)
http://www.naturalgas.org/lng/lng.asp
Sabine Pass LNG's notes cut to 'B2' from 'Ba3', outlook negative - Moody's
http://ih.advfn.com/p.php?pid=nmona&cb=1211641484&article=26416240&symbol=A%5ELNG
Cheniere Energy, Inc. News Release ~ $50m net loss
Friday May 9, 8:30 am ET
Cheniere Energy Reports First Quarter 2008 Results
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (AMEX:LNG - News) reported a net loss of $49.9 million, or $1.06 per share (basic and diluted), for the first quarter of 2008 compared with a net loss of $34.6 million, or $0.63 per share (basic and diluted), during the corresponding period in 2007.
AP Cheniere Energy CEO Charif Souki sells 1.7M shares
Wednesday April 30, 3:28 pm ET
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29039247
Margin call, Mr. Don A. Turkleson , 54
Chief Financial Officer, Sr. VP
http://biz.yahoo.com/bw/080422/20080422006787.html?.v=1
700 Milam Street
Suite 800
Houston, TX 77002
United States - Map
Phone: 713-375-5000
Fax: 713-375-6000
Web Site: http://www.cheniere.com
DETAILS
Index Membership: N/A
Sector: Basic Materials
Industry: Oil & Gas Drilling & Exploration
Full Time Employees: 378
About Cheniere
North America's LNG Gateway™
Cheniere Energy, Inc. is developing a platform of three, 100%-owned, onshore liquefied natural gas, or LNG, receiving terminals along the U.S. Gulf Coast. The three terminals will have an aggregate send-out capacity of 9.9 billion cubic feet of natural gas per day. Cheniere plans to leverage its terminal platform by pursuing related LNG business opportunities both upstream and downstream of the terminals.
Cheniere Marketing, Inc., a wholly-owned subsidiary of Cheniere Energy, Inc. was created in 2005 to commercialize Cheniere's network of LNG receiving capacity. Through the Cheniere network, the company can provide a highly reliable and valued service. Cheniere Marketing intends to purchase LNG from international suppliers, arrange the transportation of LNG to Cheniere's network of LNG terminals, utilize its reserved capacity to revaporize LNG, arrange the transportation of revaporized natural gas through affiliate and other interconnected pipelines, and sell natural gas to buyers in the North American market. Cheniere Marketing also expects to enter into U.S. natural gas purchase and sale transactions as part of its marketing activities.
Cheniere is also the founder of and holds a 30% limited partner interest in a fourth LNG receiving terminal project, participates in an LNG shipping venture, and operates an oil and gas exploration company in the shallow waters of the U.S. Gulf of Mexico.
Cheniere is based in Houston, Texas, with offices in Johnson Bayou, Louisiana, and Paris, France. The company’s common stock is listed on the American Stock Exchange under the symbol: LNG.
Cheniere LNG Terminals
Cheniere is among the leading companies in North America strategically pursuing the development of LNG receiving terminals. The Company is developing a network of three onshore LNG receiving terminals and related natural gas pipelines along the U.S. Gulf Coast. The company gained an early-mover advantage by identifying sites as early as 1999 and continues to remain at the forefront of U.S. LNG terminal development and construction.
Cheniere's terminal sites are among the best in North America because these sites have the following critical features:
Deep water channels and large acreage positions with proximity to open water
Substantial local natural gas consumption & existing industrial complexes
Close to major interstate and intrastate pipelines
Local governments and communities are familiar with and supportive of the energy
The Sabine Pass, Corpus Christi and Creole Trail LNG receiving facilities are among the largest proposed LNG receiving terminals in North America, each with over 600 acres of land under its control and 4.0, 2.6, and 3.3 Bcf/d of send-out capacity, respectively. By operating the terminals as a network, Cheniere expects its customers will benefit from reliability, optionality, and flexibility not possible with single terminal operators. Multiple receiving sites will improve reliability during weather and maintenance interruptions. With 3 ports, 6 unloading docks and up to 13 storage tanks in the network, the company will have multiple options for flexible landing and market optimization.
Cheniere's premier sites, its community focused approach, experienced team and anticipated low construction and operating costs offer the company sustainable competitive advantages in bringing natural gas to the North American market
BUSINESS SUMMARY
Cheniere Energy, Inc., through its subsidiaries, engages in the development, construction, ownership, and operation of onshore liquefied natural gas (LNG) receiving terminals and natural gas pipelines along the Gulf Coast of the United States. It develops LNG receiving terminal projects on Sabine Pass LNG in western Cameron Parish, Louisiana on the Sabine Pass Channel; Corpus Christi LNG near Corpus Christi, Texas; Creole Trail LNG at the mouth of the Calcasieu Channel in central Cameron Parish, Louisiana; and Freeport LNG on Quintana Island near Freeport, Texas. The company also engages in oil and natural gas exploration and development activities in the Gulf of Mexico. As of December 31, 2007, it had proved developed reserves of approximately 8,869 barrels of oil and 1,259,933 thousand cubic feet of gas. The company was founded in 1983 and is based in Houston, Texas.
Sabine Pass LNG Terminal
(Founder, General Partner, and 91% Limited Partner)
Corpus Christi LNG Terminal
Corpus Christi LNG is located on 612 acres on the northern coast of the Corpus Christi Bay, along the La Quinta Ship Channel, a deepwater ship channel dredged to 45 feet. The terminal will be located 14.3 nautical miles from the open water and 16 nautical miles from the outer buoy. The terminal design is almost identical to the first phase of Sabine Pass LNG, with two berths large enough to accommodate the QMax class vessel, one of the largest vessels in the industry.
The terminal is currently under construction and will be built in two phases. Phase 1 will have 10.1 Bcf of LNG storage in three tanks, each with an LNG capacity of 160,000 m3, and a maximum continuous regasification rate of 2.6 Bcf/d. Phase 2 will be built in stages. The first stage of Phase 2 will include the addition of a fourth and fifth storage tank, additional vaporizers that will bring the maximum continuous regasification rate up to 4.0 Bcf/d with a peak sendout capacity of 4.3 Bcf/d. In the future stages of Phase 2 we may add a sixth storage tank and related facilities to bring the total LNG storage volume to 20.2 Bcf.
Four dedicated tugs will be stationed at the terminal to ensure safe and timely escorts by crews specifically trained to berth LNG vessels. The terminal will be capable of receiving and unloading approximately 500 LNG vessels each year after Phase 2 is complete. Each regular carrier will take approximately 10 to 12 hours to unload, with a QMax-class vessel projected to unload in approximately 18 hours. The terminal can simultaneously unload LNG vessels from each berth in order to maximize the number of LNG vessels that can be received at the terminal each year.
Cheniere Shipping
J & S Cheniere
Cheniere LNG Services, Inc. (Cheniere LNG Services), one of our wholly-owned subsidiaries, holds a 49% minority interest in J & S Cheniere S.A. (J & S Cheniere), a Switzerland joint-stock company. The majority interest in J & S Cheniere is held by Mercuria Energy Holding B.V. (Mercuria), a Netherlands corporation and an affiliate of Mercuria Energy Group Ltd., an international petroleum trading and marketing company.
In August 2003, J & S Cheniere secured the services of its first LNG vessel Tenaga Empat, owned and operated by the Malaysian International Shipping Company, through an 18 month time charter party agreement commencing in 2004. In August 2004, J & S Cheniere signed two time charter party agreements (10 year) with Kawasaki Kisen Kaisha Ltd (K-Line). One LNG vessel with a cargo capacity of 145,000 cubic meters is being built by Kawasaki Shipbuilding and is expected to be delivered early 2008. The second LNG vessel with cargo capacity of 154,200 cubic meters is being built by Imabari Shipbuilding and is expected to be delivered in the second quarter of 2008. Both of these vessels will be operated by K-Line.
J & S Cheniere and Cheniere Marketing are continuing to negotiate LNG sale and purchase agreements that would provide for the sale by J & S Cheniere of approximately 78,475,000 MMBtus of stipulated maximum annual LNG reception quantity to Cheniere Marketing for delivery at each of the Cheniere Sabine Pass and Corpus Christi LNG receiving terminals.
J & S Cheniere Fleet
LNG Transport Vessels
Trinity Arrow
Containment / Size:
Membrane - 154,000 cm
Owner:
Trinity LNG Transport Company
Yard:
Imabari Shipbuilding Company
Delivery:
Q1 2008
Operator:
Kawasaki Kisen Kaisha Ltd (K-Line)
Celestine River
Containment / Size:
Moss Sphere - 145,000 cm
Owner:
K-Line LNG Transport Company
Yard:
Kawasaki Shipbuilding Company
Delivery:
Q2 2008
Operator:
Kawasaki Kisen Kaisha Ltd (K-Line)
KEY EXECUTIVES
Mr. Charif Souki , 55
Co-Founder, Chairman and Chief Exec. Officer
Pres, Chief Operating Officer
Mr. Don A. Turkleson , 54
Chief Financial Officer, Sr. VP
Mr. Jean Abiteboul , 56
Sr. VP of International and Exec. Director of Cheniere LNG Services S A R L N/A N/A
Mr. Davis Thames ,
Sr. VP of Marketing and Pres of Cheniere Marketing Inc
Shares: 48.61 m
As of 12/22/08 approx 50.7 m
Float : 42.5 m
As of 12/22/08 approx 47.1 m
*******On January 14, 2008 Authorized Sharecount was raised from - 120,000,000 to 240,000,000*******
Note: Cheniere Energy Partners LP. trades under the symbol (CQP)
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