EQT/Tug Hill Deal Came Only After PA AG, FTC Changed Deal Terms - Marcellus Drilling News
EQT/Tug Hill Deal Came Only After PA AG, FTC Changed Deal Terms | Marcellus Drilling News
We should have known there was a price to pay, a “pound of flesh” to be exacted, when we read the announcement that the Bidenistas of the FTC (Federal Trade Commission) had approved EQT’s deal to buy Tug Hill’s West Virginia assets. Two days ago, EQT issued a press release to announce the deal had been blessed by the FTC and would happen within the next seven days (see Bidenistas at FTC Clear EQT to Complete Buyout of Tug Hill & XcL). A day later, yesterday, the Pennsylvania Attorney General’s office issued its version of the news, stating approval by the FTC (and the AG’s office) came only after both the FTC and the AG screwed with the deal and changed the terms of the deal. We should have known.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”