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Getting the Most Out of the Marcellus by Exporting Ethane

February 23, 2014

For the past century, West Virginia has mined the coal that has built America and provided low-cost electricity for our region....

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swingdog

Feb-27-14 8:59 PM

The following is an excerpt from Bloomberg magazine:

"Even with crude prices above $100 a barrel, U.S. independent producers will spend $1.50 drilling this year for every dollar they get back from selling oil and gas and will carry debt that is twice as much as annual earnings, said Ryan Oatman, an energy analyst with SunTrust Robinson Humphrey Inc., an investment bank in Houston.

By contrast, the net debt of Exxon Mobil Corp., the world’s largest energy explorer by market value, is less than half of the cash earned from operations last year. The company will spend 68 cents for every dollar it gets back this year, according to company records and analyst forecasts compiled by Bloomberg."

Note, the cost of producing is substantially greater than the return on investment. In terms of product produced the companies are losing money. The real profit is made from selling stock to people who do not check the books and swallow the hype of the producers.

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swingdog

Feb-27-14 8:07 PM

"Specifically, we are planning to invest $14 billion over the next 10 years to develop the Marcellus Shale right here in West Virginia. With this increased development comes increased opportunity and responsibility. That responsibility is something we have and always will take very seriously at CONSOL Energy, and why I am writing today."

Read the above excerpt carefully. This article was not written by a reporter - it is a direct reprint of a corporate press release. In other words, self serving propaganda! Yet, it appears on the front page of the WI essentially verbatim. The WI is serving as the dummy for the ventriloquist.

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moodusbass

Feb-24-14 7:16 AM

And with all of the excess natural gas being processed here, why then are my gas bills for heating jumping through the roof??? No pun intended. I have seen my bill for Mountaineer Gas Co double each month (and yes, I understand it was far colder this year) for what??? Aren't they supposed to give us a break on cost since we are THE largest producer now?? Hellooooo...where's the justice in that? What's worse is I keep my heat at 67..SIXTY-SEVEN degrees and I am still seeing $160 a month for gas bill??? Something VERY wrong here!

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uglyassmf

Feb-24-14 2:07 AM

yea..save it all. I say close the borders. stop all imports and exports. We can be thriving self sustaining nation once again. if you have nothing to offer on your application to come in then you are rejected. no more deadbeats.

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mikeyd

Feb-23-14 8:57 AM

save the coal.we're gonna need it.

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