Berkshire Hathaway has pulled out of a proposed large investment in the liquid natural gas pipeline near Quebec’s Saguenay port. Warren Buffetts’s investment company had been planning to invest $4 billion in the project.
The $9.5 billion LNG project is meant to be built about 230 kilometers northeast of Quebec City, according to CBC News. The marine terminal will be used to ship LNG overseas from the Saguenay port.
The Week That Was: February 15, 2020, Brought to You by www.SEPP.org
By Ken Haapala, President, Science and Environmental Policy Project
Quote of the Week: “”Laws are made for men of ordinary understanding and should, therefore, be construed by the ordinary rules of common sense. Their meaning is not to be sought for in metaphysical subtleties which may make anything mean everything or nothing at pleasure.” —Thomas Jefferson (1823)
Number of the Week: January 1736
Future Emissions Down, Climate Sensitivity Up? Writing in American Thinker, Anthony Watts draws attention to a surprising article in one of the climate establishment’s journals, Nature. In that article by Zeke Hausfather and Glen Peters, the authors point out that great increases in carbon dioxide (CO2) emissions are unlikely to take place in the 21st century. Thus, the world will not warm as much as claimed using the standard modeling assumptions common to the global climate models used by the UN Intergovernmental Panel on Climate Change (IPCC). The authors propose that the IPCC modelers moderate their extreme emissions scenario, their storyline.
Associated Pres – Re-Blogged From Headline Wealth
The Trump administration on Wednesday approved a right-of-way allowing the Keystone XL oil sands pipeline to be built across U.S. land, pushing the controversial $8 billion project closer to construction though court challenges still loom.
The approval signed by Interior Secretary David Bernhardt and obtained by The Associated Press covers 46 miles (74 kilometers) of the pipeline’s route across land in Montana that’s controlled by the Bureau of Land Management and the U.S. Army Corps of Engineers, said Casey Hammond, assistant secretary of the Interior Department.
Michael Bastasch – Re-Blogged From Daily Caller
The Permian basin, now the world’s most productive oil and gas field, is booming — so much so that there’s not enough pipeline capacity to carry out all the natural gas it produces, meaning much of it is flared.
How much? Some 553 million cubic feet per day, or enough to power every home in Texas, according to data from Rystad Energy compiled by Bloomberg.
The mismatch between pipeline capacity and production is nothing new, but flaring in the Permian basin, which straddles parts of Texas and New Mexico, jumped 85 percent in the last year. (RELATED: Trump’s Latest Executive Order Could Derail A Favorite Tactic Of Climate Activists)
Michael Bastasch From The Daily Caller – Re-Blogged From WUWT
President Donald Trump signed a pair of executive orders aimed at speeding up oil and gas pipeline permitting, including limiting the ability of activists and states to block key energy projects.
Trump signed the orders Wednesday at an International Union of Operating Engineers’ training center near Houston. Some labor unions have pushed back against Democrats’ anti-fossil fuel agenda, including the recently introduced Green New Deal.
Re-Blogged From GWPF
The state is dependent on imports even though it sits atop the abundant Marcellus Shale.
The combination of hydraulic fracturing and horizontal drilling—sometimes known as the “shale revolution”—has enabled Texas, Pennsylvania and other states to produce record quantities of natural gas, some of which is being frozen, loaded onto giant ships, and transported to customers in places like Chile, China and India. Thanks to the environmental policies of Gov. Andrew Cuomo, New York has missed out on this windfall.
Now, in a preview of what life might be like under the Democrats’ proposed Green New Deal, some New Yorkers are about to face a natural-gas shortage. Consolidated Edison , an energy utility that provides gas and power to the New York City area, announced last month that beginning in mid-March it would “no longer be accepting applications for natural gas connections from new customers in most of our Westchester County service area.” The reason for the shortage is obvious: The Cuomo administration has repeatedly blocked or delayed new pipeline projects. As a Con Ed spokesman put it, there is a “lot of natural gas around the country, but getting it to New York has been the strain.”
By Dave Keating – Re-Blogged From Forbes
A ceremony marking the start of Nord Stream pipeline construction in 2010 (Dmitry Lovetsky, ASSOCIATED PRESS)
