Here's your weekly rundown of our favorite stories from the past week in the oil and gas industry!
Nikkei Asian Review
While there had been concern in some corners that escalating US-China trade animosity would jeopardize an insane amount of Chinese investment about to hit West Virginia (more than the state's GDP last year, in fact), things still appear on schedule from all indications.
I really wish we'd see more features on the people within the industry because as much fun as technology, legal battles and record-breaking export numbers are, the people are what make everything tick.
Kris Carter is one of those people, and she got a nice feature here. Carter is a geologist with the Pennsylvania Geological Survey, specifically managing the Survey's Economic Geology Division - which does exactly what you think it does.
"We do strictly oil and gas and subsurface geology. We do tracking. What type of well will it be? How thick is it? Is it going to be a productive play? The survey has a database of oil and gas well records and interpreted data."
Akron Beacon Journal
This one's just a short release, but one carrying some good news from FERC: the Rover Pipeline is a go.
For those who don't know, Rover is 713 miles long and transports Marcellus and Utica gas to a hub near Defiance, in northwest Ohio, and then on to Michigan.
Writer Dan Larson's takeaways from the Colorado Oil and Gas Association's event last week were overwhelmingly positive...but with high attendance and participation, appearances from both of Colorado's major-party gubernatorial candidates, and a workforce that's younger - and more female - than ever, there's not much to hate. Although Colorado faces the possible hurdle of Initiative 97 in the near future, there's little doubt that the health of the industry is the best argument for voting down additional regulation.
A proposal to ban fracking in Ohio's capital city was denied a spot on the ballot by the board of elections - although it's important to note that the decision had little to do with the practice itself. Instead, the board ruled that allowing citizens to vote on the issue would violate Ohio law, which allows state government to regulate fracking.
I know I'm preaching to the converted (or the choir, I've heard it both ways) on this point, but it's important to keep pointing out that the economic benefits of oil and gas aren't limited to the production of energy itself (and plastics, people always overlook that), it also includes tons of industries adjacent to that process. Like us, to name one example, since we don't do any drilling but make some sweet equipment to help others do it (including you, I hope, but if not...why not?). I mean, sand - sand! - is big business now. So are fracking fluid and chemicals, obviously.
By the way, don't be alarmed by that 2025 date, there's no catastrophic occurrence on the horizon, it's simply the end of the projection period used here.
We talked about the coal vs. gas issue last week, but it's still nice to see that (other than the president and those who depend on coal for their livelihood, I suppose) there's largely consensus on the future of energy relative to those two fuels. Key stat:
According to the Energy Information Administration (EIA), total U.S. coal consumption by domestic power sector has fallen to 766 million tons in 2018, from 1,172 million tons 10 years ago, a 34% decrease. Beyond 2020 that number could fall below 50% as power generators switch to burning natural gas and renewables like solar increase their footprint.
See you next week!