· 2 min read
lluminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:
🗞️ Driving the news: Toby Rice, CEO of EQT, one of the largest U.S. natural gas producers, suggests that the focus has shifted from "Drill, Baby, Drill" to "Build, Baby, Build" as the natural gas industry looks ahead to growth after low prices impacted profits
• This shift comes amid President Biden's environmental push and uncertainty over U.S. liquefied natural gas (LNG) exports
🔭 The context: While Biden has emphasised clean energy and tightened environmental regulations, the upcoming Trump administration may prioritise increasing U.S. LNG exports
• This shift could lead to new infrastructure projects and pipelines aimed at boosting exports to global markets, especially in the context of replacing Russian gas in Europe and reducing coal consumption in Asia
🌍 Why it matters for the planet: The U.S. aims to expand its LNG exports, which could have environmental consequences by increasing global emissions
• The debate centres on whether more LNG facilities are necessary or if overbuilding could lead to market volatility and higher domestic prices
⏭️ What’s next: New LNG projects are set to begin shipping gas as early as next year, with more expected by 2028
• Energy experts and politicians will continue to debate the balance between economic growth and environmental sustainability, especially with concerns over global emissions and domestic market effects
💬 One quote: "People are reassessing how we got here, and the conclusion they’re going to get to is we need to build more of everything" – Toby Rice, CEO of EQT
📈 One stat: The U.S. is already the world’s largest LNG exporter, with new projects expected to come online through 2028. The Biden administration warned that "unfettered exports" could raise domestic prices by 31% by 2050
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