Sunday Business Page: Natural Gas Industry 9/8/2019
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Sunday Business Page: Natural Gas Industry 9/8/2019


GOOD MORNING AND WELCOME TO THE SUNDAY BUSINESS PAGE. AS PRESIDENT TRUMP POINTED OUT NATURAL GAS IS A KEY NATURAL RESOURCE IN THIS REGION. WHAT IS THE STATE OF THE INDUSTRY TODAY? OUR SPECIAL GUEST THIS MORNING IS ATTORNEY JOE RINEHART WITH A PITTSBURGH-BASED LAW FIRM. EVERY YEAR HE AND HIS COLLEAGUES PRODUCE THIS REPORT AND WE WELCOME HIM BACK FOR THE LATEST. THIS IS THE LATEST REPORT, WHAT IS NEW ABOUT THE STATE OF OUR NATURAL GAS BUSINESS HERE IN SOUTHWESTERN PENNSYLVANIA? THE BIG NEWS IS IF REDUCTION CONTINUES TO RISE OUR REGION PRODUCES ABOUT 40% OF WHAT IS NOW 90 BILLION CUBIC 90,000,000,000 FT.3 PER DAY OF NATURAL GAS THAT THE COUNTRY DEVELOPS. AN 40% COMES RIGHT HERE FROM THIS REGION? THAT’S RIGHT. IT HAS CREATED ALL KINDS OF OPPORTUNITIES AND ALSO GENERATES NATURAL GAS LIQUIDS. I THINK A LOT OF PEOPLE WERE CONCERNED IN YEARS PAST IT SEEMS AS THOUGH THE DRILLING RIGS HAD STOPPED AND WE WERE NOT PRODUCING NATURAL GAS. IS THE MARKET BACK? IT IS COMPLICATED. THE RIG COUNT IS PRETTY MUCH UP FROM TWO YEARS AGO. MORE RECENTLY IT HAS DECLINED BECAUSE FRANKLY ONE OF THE THINGS IS THE PROBLEM THAT THEY ARE THEIR OWN WORST ENEMY — ENEMY. BY GENERATING SO MUCH GAS IT CAUSES THE PRICE TO GO DOWN. THEY’RE HAVING TO COMPETE WITH THEMSELVES. IS A TRUE THE SUM OF THE NATURAL GAS IN THIS REGION IS EXPORTED OVERSEAS? THAT IS SOMETHING THAT IS A BIG MARKET. THE PRICES THEY CAN GET OVERSEAS ARE 3-4 TIMES WHAT THEY CAN GET LOCALLY. ALL THE THINGS GOING ON NOW IS A CONCERN CERTAINLY. THE NATURAL GAS PRICE IN THE PITTSBURGH AREA, IT SEEMS THAT WE REALLY HAVE NOT HAD A SPIKE IN PRICE? NO, PRICES ABOUT A YEAR AGO WERE A LITTLE UNDER THREE DOLLARS AND RIGHT NOW THERE ABOUT 2.2. THEY ARE DECLINING A BIT. IT IS AMAZING HOW THE INDUSTRY HAS BECOME MORE EFFICIENT. AS YOU KNOW THERE ARE THOSE WHO ARGUE WE SHOULD GET OFF FOSSIL FUELS AND THERE SHOULD BE NO MORE FOSSIL FUEL DEVELOPMENT. THAT WOULD MEAN AN END TO NATURAL GAS I ASSUME. WHAT IS THE ARGUMENT THAT NATURAL GAS IS A DIFFERENT KIND OF FOSSIL YOU WILL THAN COAL? IF YOU LOOK AT THE NUMBERS WITH REGARD TO GREENHOUSE GAS EMISSIONS GOING BACK TO 1990 YOU HAVE HAD A PRETTY SIGNIFICANT DECREASE BECAUSE OF THE FACT THAT NATURAL GAS DOES HAVE LOWER OMISSIONS AND IS MORE ALARMINGLY FRIENDLY THAN A LOT OF OTHER FORMS OF ENERGY. THAT HAS BEEN A WELCOME DEVELOPMENT. NATURAL GAS IS AMONG THE CLEANER? CORRECT. WE APPRECIATE YOU COMING IN. WE HAVE YOU BACK EVERY YEAR AND WE WILL HAVE YOU AGAIN. THANK YOU FOR STAYING ON TOP OF THIS AND THANK YOU FOR JOINING

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1 thought on “Sunday Business Page: Natural Gas Industry 9/8/2019

  1. Sadly, due to bribes, the gas industry and their tens of thousands of out of state workers don't pay taxes.
    …….
    The average gas worker makes over $200,000 a year and pays ZERO state income tax, registration fees, fire fees, or municipal taxes because they run out of state plates and use a out of state address.
    …….
    While the LEGAL residents struggle paycheck to paycheck to to pay their increased taxes and fees, these gas workers are using the roads, schools, and infrastructure 100% tax free.

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