Gas Industry Dying in the Marcellus Play

I've been watching the steady decline of the gas industry development in my county of Susquehanna, Pa..  It started about a year ago.  The gas industry development has produced a glut of gas and lack of sufficient storage and lack of pipelines has brought the price down to the cellar. Also, OPEC has lowered oil barrel prices, crashed them and it's affected gas prices. Gas stocks are crashing also and no profits for the gas industry in my county this past year. Royalty payments also crashing for landowners.

Now it's 2016.  The low prices continue and the Gas Industry is in deep trouble.  This may be a telling year.  How will Cabot, Southwestern, Chief and others survive as viable companies. Cabot is developing less than 50% of what they did in 2014.  Workers are laid off and bankruptcies may be just around the corner.  Talisman and WPX sold their leases to other companies and bailed out.

More opposition than ever is happening in NY and New England to stop the pipelines and compressor stations.  People getting arrested by the hundreds to stop fossil fuel storage and development.  It's been an interesting and exciting year. The time is ripe for our governments to fully embrace green and renewable energy and subsidize it as they have been subsidizing the oil and gas industry for many years.  Global Warming needs this transition to green energies like the sun, wind, geo-thermal, ocean waves, etc..

I am happy to see the demise of this fossil fuel industry in my county and State of Pa..  I've seen enough water and air contamination and pollution and health impacts.  We are up to about 1400 gas wells, 45 gas compressor stations and hundreds of miles of new, high-pressure gas pipelines and counting in my county alone.  This is a very invasive and toxic form of energy and extraction and we're fast becoming an extraction colony and sacrifice zone for this energy.

Thankfully, the world is awakening to the damage and toxicity of this Industry and willing to resist and oppose it and usher in the golden age of renewables.


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