As the nation continues to navigate COVID-19, states are starting to open back up. Today in Pennsylvania, more counties are moving in to the ‘Green Phase’. The counties in the Green Phase have mitigated the risk for the 14 days required and are allowed to ‘open’ with strongly suggested guidelines from the Governor, Dr. Levine and the CDC.
Governor Wolf is attempting to “clean up” Pennsylvania’s emissions. His new Executive Order will require 25% of government vehicles to be replaced by electric vehicle by 2025. The big push for this change is mostly financially motivated, as it is projected to gain the state just under 3 billion dollars in subsidies due to a reduction in vehicular and greenhouse gas emissions. Major cities such as Pittsburgh and Philadelphia are doing their best to stay ahead of the curve. Other benefits include lower greenhouse gas emissions and a speculation that respiratory disease might be reduced.
Natural gas continues to be an increasingly important force within the United States Energy sector, and Pennsylvania is a cornerstone state for natural Gas production. According to the EIA, only Texas is responsible for producing more natural gas than Pennsylvania in the United States. Mass energy producers need mass distribution networks, and the Atlantic Sunrise natural gas pipeline out of northeastern Pennsylvania will help distribute natural gas all along the eastern seaboard as far south as Alabama.
Oil prices continue to be range bound until the market bulls or bears take control. As of this morning, there were more bullish than bearish factors which is resulting in green across the board for the moment.
Nine months ago construction began for Shell’s $6 billion ethane cracker plant in Monaca (Beaver County), PA. The project development includes building bridges, relocating a state highway, improving the existing interchanges, re-positioning the rail line, and prepping foundations for the new complex.