Category Archives for Marketplace Information
Information on the coal market place.
We have all heard the quotes and predictions before, as elected officials plainly stated that under their plans to restrict carbon-based forms of energy, electricity prices would “necessarily skyrocket.”
As this mid-December NY Times article clearly shows, New Englanders are now dealing with the results of those misguided, anti-energy policies, with some residents of the area seeing their monthly energy bills exploding by 110%. The article also relayed warnings from the New England ISO stating that “pipeline constraints (are) severe and … the reliability of the system would ‘continue to be threatened’ ” through the winter.
On December 28th, Bechtel began loading LNG sourced from coal seams at their Queensland Curtis LNG facility.
The QCLNG project connects more than 2,000 onshore wells, which flow into a 335 mile pipeline that moves the gas to the liquefaction facility on Curtis Island. The gas is then chilled to -259.6 degrees Fahrenheit to become a liquid, which makes it 600 times smaller enabling it to be stored and transported in LNG vessels to markets around the world.
Click here to read the full Pennenergy.com article on this development.
Some good news for Alpha’s West Virginia mines.
Alpha Natural Resources, Inc. (NYSE: ANR) operating affiliates announce that the WARN notices for eight coal mines in West Virginia have expired and the mines and their approximately 750 workers will continue to operate. The longer-term plans for these mines will continue to depend upon market prices and demand.
As the EPA’s anti-coal regulations get nearer to implementation, states that rely on coal for electricity and jobs are bracing for the massive economic and social impacts.
Arch Coal’s December 1st news release is a poignant reminder about the potential for economic, social, and environmental damage locked into the EPA’s so-called Clean Power Plan. It is well worth it to reprint the majority of this news release here on the Coalblog.
“Already promulgated regulations are expected to drive the shut-down of as much as 20 percent of America’s coal-based fleet, which is the primary source of base-load power generation in the United States,” said Deck S. Slone, Arch’s senior vice president of strategy and public policy. “That’s an unprecedented change to America’s power system in what constitutes the blink of an eye in energy markets – creating enormous potential for market disruptions, supply shortages and rate spikes.”
“EPA Power Plant Mercury Rule Gets U.S. Supreme Court Review” … “High court review of the rule threatens to stop a legal winning streak for EPA air-pollution regulations.”
The Institute for Energy Research takes a look at the potential extension of the production tax credit for the wind energy industry in their new report “The Case Against the Wind PTC.”
Some highlights of the report findings.
- A two-year extension of the PTC will cost $13.35 billion
- The PTC allows wind producers to pay the grid to take their power and still make a profit
- 65% of voters say that two decades of tax credits for wind is enough
- PTC threatens overall grid reliability as wind tends to produce electricity when it is not needed
This Daily Caller article describes how the Obama administration has picked the last few hours remaining before the Thanksgiving holiday to release the updated federal Unified Agenda. The DC article describes the document as,
the Obama administration’s regulatory road map (that) lays out thousands of regulations being finalized in the coming months.
The article describes how some 3,415 new regulations are listed, including 189 rules that will cost the U.S. economy more than $100 million.
There was an interesting article published in The Hill yesterday, which quotes EPA Administrator, Gina McCarthy on the issue of election-based changes in the Senate. Her comments indicate an overweening sense of confidence that public and presidential support will be more than sufficient to stop any attempts to limit EPA actions by the newly elected Republican majority in the Senate and the returning majority in the House.