Will an Oil Crunch Derail any Recovery? Plus the Weekly Marcellus Update

Enjoying the economic recovery? Yeah, not being a Wall St. broker I haven't seen much of one either. Now a number of people have blamed the 2008 crash on the spike of oil prices; I think it may have been a component but there were structural flaws present to begin with in the economy. However, as Lisa Margonelli at The Atlantic reports, once-again rising oil prices may thwart any recovery presently underway. This situation appears similar to the stagflation episode in the 70's, which was due to the various energy crises of the time and responses to them. There are  of-course some major differences between our economy then (much less domestic manufacturing and less sprawl) and economic effects (high inflation, interest rates and unemployment). Nevertheless, there seems to be little room for rational doubt regarding the negative impact an oil price crunch will have on the global economy.

Now the weekly round-up of news on the Marcellus going-ons in Pennsylvania:

Publication focuses on water withdrawal for gas drilling Clearfield Progress Originally published Sept. 2009, "Water Withdrawals for Development of Marcellus Shale Gas in Pennsylvania" reflects the latest Marcellus-related regulatory changes enacted by the Susquehanna River Basin Commission, the Delaware River Basin Commission and the state Department of Environmental Protection.

Gas Pipeline Firm's Plans in Pa. Hit Snag ABC News State public utility regulators have been advised to reject an effort by a natural gas pipeline firm that could subject its unregulated pipelines to safety standards, but also help it secure the power of eminent domain on private property.

Study shows wind and gas drilling trends Daily American Online Pennsylvania could become the site of an additional 60,000 Marcellus natural gas wells and 2,900 wind turbines by 2030 — developments that may cause significant environmental impacts...

WVIA to broadcast Marcellus Shale program live from Towanda's Keystone Theatre Towanda Daily Review The Thursday, Dec. 9 show of WVIA's weekly public affairs television program, "State of Pennsylvania," will be broadcast live from the Keystone Theatre in Towanda and will focus on issues related to Marcellus Shale gas drilling.

Antero Resources to buy Marcellus assets Oil & Gas Journal Antero Resources LLC, a private Denver independent, is buying Bluestone Energy Partners, a private company with Marcellus shale acreage in West Virginia and Pennsylvania.

Marcellus information online Daily American Online For the first time Pennsylvania’s oil and gas industry production and compliance information is available online as part of the commonwealth’s ongoing effort to make the industry’s operations more transparent, according to the state.

Warren sewage plant gets OK to treat gas-drilling wastewater Youngstown Vindicator -The Ohio Environmental Protection Agency has granted a final permit modification to Warren to allow its waste-treatment facilities to treat wastewater generated by drilling for gas in the Marcellus Shale region....The water will come from wastewater generated from hydraulic fracturing of Marcellus Shale deposits located primarily in Pennsylvania and West Virginia, ...