Natural Gas News – December 29, 2017
Natural Gas News – December 29, 2017
US BLM moves to rescind Obama-era fracking rule
Platts reported: The US Department of the Interior moved quickly Thurs-day to rescind an Obama-era rule regulating hydraulic fracturing on federal and Indian lands after a court declined to hear further appeals filed by Native American and environmental groups to try to keep the rule in place. On Thursday, Interior’s Bureau of Land Management released a notice of its intent to publish a final rule in the Federal Register Friday, formally stripping away the fracking rule. The rule had been scheduled to go into effect in 2015, but was never implemented because of court challenges by energy industry groups and several oil- and natural gas-producing states. “With this final rule, the BLM is rescinding the 2015 rule because we believe it imposes administrative burdens and compliance costs that are not justified,” the BLM notice said. As part of his policy to reduce regulations on the energy industry, President Donald Trump vowed to rescind the rule, which would have up-dated the BLM’s regulations for fracking on federal and Indian lands for the first time in 30 years. For more visit platts.com or click http://bit.ly/2llL4Or
America’s Deep Freeze Is Aiding Coal and Sending Power Surging
Bloomberg reported: The arctic blast that’s turning the northern half of the U.S. into an icebox this week has been good news for oil and coal. Plants were using the most fuel oil in three years on Thursday to produce electricity for powering heaters across New England. In the PJM market, which stretches from Illinois to Washington, D.C., coal has once again surged past natural gas to become the biggest fuel for power generation. Oil demand there jumped sixfold. It marks a reversal of a transformation in America’s power mix: The U.S. shale boom has unleashed record volumes of cheap natural gas, turning that fuel into the country’s biggest source of power generation. But this week’s freeze triggered gas price spikes across the eastern U.S., and generators are taking advantage to burn cheaper oil and coal. For more on this story visit bloomberg.com or click https://bloom.bg/2liuaQC
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