PennEast Dec. 17 Week In Review

December 17, 2016

A Recap of PennEast and Important Natural Gas News

As cold weather is upon us, take comfort that Pennsylvania’s natural gas producers are ready for this winter – explains George Stark of Cabot Oil & Gas in a Morning Call editorial this week. George highlights the savings delivered by pipelines, reiterating that PennEast could have saved Pennsylvania and New Jersey energy customers $893 million during the 2013-14 winter if it would have been in service.

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Also in preparation for the cold months ahead this winter, PennEast was proud to lend a hand to the Second Harvest Food Bank of Lehigh Valley and Northeast Pennsylvania. PennEast provided the food bank with a $2,500 grant that will support Second Harvest’s “Backpack Buddies” program. Backpack Buddies ensures that children from low-income homes receive a backpack of nutritious food to supplement their meals during the weekends and holidays. PennEast volunteers also packed “SUNShine Boxes” that assist local senior citizens each month.

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PennEast’s Pat Kornick also responded to false claims that PennEast was “looking at (an) alternative route” for the Pipeline. PennEast is not proposing any new changes to the route in Bucks County.

In related natural gas news:

Finally, a Washington Post story this week discusses “Why so many U.S. manufacturers are putting up ‘Help Wanted’ signs.” An Indiana manufacturer is quoted saying, “To say manufacturing is dying in the United States just isn’t true.” Affordable energy is vital to giving American manufacturers a competitive edge.
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PennEast looks forward to not only helping existing manufacturers in the region, but to also helping attract new ones thanks to the energy price stability PennEast’s one billion cubic feet of natural gas capacity will provide both to electric and natural gas customers.

Read these and other stories below:

George Stark: Marcellus Shale gas pipelines deliver lower energy prices (Morning Call)
Residents across Pennsylvania take comfort. If you use natural gas or electricity (increasingly fueled by natural gas) for heating, cooking and everyday uses, Pennsylvania’s natural gas producers are ready for this winter. At Cabot Oil & Gas, we produce over 1.5 billion cubic feet of natural gas every day from Pennsylvania’s vast shale supplies.

Second Harvest gets financial, hands-on help (Lehigh Valley Live)
PennEast Pipeline Co. recently gave Second Harvest Food Bank of Lehigh Valley and Northeast Pennsylvania a grant to support one of its longstanding meal programs. As the check was being presented, PennEast employees were helping the food bank with supplemental food boxes in preparation for the upcoming winter and holiday season.

A Pipeline To Savings For All (Well Said Cabot)
The following is a column by George Stark which has appeared in numerous newspapers across Pennsylvania discussing the benefits of natural gas infrastructure including savings for all Pennsylvanians.

Pipelines are key to Pa’s energy future: David Spigelmyer
If there is one issue which Americans can rally around after a contentious and hard-fought political season, it’s the dire need to grow jobs and improve our nation’s infrastructure. As the second-largest natural gas producer in the nation, Pennsylvania has played a key role in the American energy revolution.

Northeast prices increase substantially (EIA)
Despite recent pipeline capacity expansions for delivery into the Northeast, prices jumped significantly as a result of cold weather this report week.

Why so many U.S. manufacturers are putting up ‘Help Wanted’ signs (Washington Post)
“To say manufacturing is dying in the United States just isn’t true.”
But American manufacturing is changing, and the enterprises flourishing today often demand a different set of skills than assembly lines of the past.

The Coming Revolution of American Manufacturing (Manhattan-Institute)
It has become common wisdom that we are in a “new normal” of low growth in an economy destined to deindustrialize and become increasingly dominated by low-paying service-sector jobs. This outlook is mistaken. In the first place, the size of the manufacturing sector is underestimated. The 12% share of GDP attributed to manufacturing is an artifact of how government accounts for business activities, not how businesses actually operate or what they actually do.