EQT Corporation’s Post

CEO Rice spent too much on acquisitions. He raised EQT’s debt when he said he would lower it. EQT under his leadership may have the worst natural gas marketing department in the US. Natural gas was $2.05 this morning, at the Marcellus hub it was probably less than 1.60. Most every decision he has made has been wrong in this shareholders opinion. Now to defect against a potential bad fourth quarter earnings report he rails against Biden. Full disclosure; 1. Biden’s decision has no effect on current LNG exports. Zero. Nada. 2. Biden’s decision has no effect on the three huge LNG construction projects under construction. Zero. Nada. 3. Biden’s decision doesn’t effect existing approved permits. What is does is propose a memorandum on new permit applications for a few months while an extensive environmental review is done. With low commodity pricing and a worldwide glut of nat gas (see pricing above), now is an excellent time for academics, industry professionals, scientists and politicians to perform a thorough examination of natural gas and how it can improve world climate. I strongly feel Marcellus natural gas is one of the greenest energy sources on the planet. Our resource can take the scrutiny. Recycled produced water. Drilling and completion practices almost eliminating methane emissions. Electric frac spreads and drilling rigs. Transportation via pipe line. The list goes on. Instead of forwarding half truths against the administration and environmentalists (and don’t we all agree clean air and water is a good thing), let’s meet the argument head on with logic. The review isn’t a bad thing. But. But Texas, the Dakotas, Oklahoma and other lax states may need to address their lax environmental standards. Flaring. Methane releases during drilling and completion operations. Water disposal in injection wells directly and undeniably causing earthquakes. Let’s present our best argument and propose solutions for the problems while in this moratorium. Or name call and bark like a rabid dog which is what my industry often does. Huge fan of natural gas here. Worked in the industry for 35 years. But I understand our industry has some environmental problems. Let’s solve them. Not a rich CEO here. But I know a little about the industry.

If you’re following the recent “pause” on LNG project approvals, then you will want to read the letter below. It masterfully lays out how such a moratorium is not only a mistake but also a direct contradiction to the Administration’s (and COP28’s) climate goals. Here’s an example of a blistering reality check in the letter: “Providing affordable LNG is our *only* means of influencing global decarbonizing at any scale that is not in the form of paper (dollars or agreements).”

Great full view of the current climate initiatives and how the recently announced moratorium on LNG is counterproductive to addressing the largest source of greenhouse gas emissions. Ultimately standing in the way of the world meeting climate it’s objectives.

More reasons why Caribbean nations should not be diverting massive amounts of money towards LNG versus producing most of their energy domestically via cleaner energy. Beyond just the environmental, the volatility and realities of Geo-politics can destroy your supply and/or energy prices overnight.

If the South African government persists with coal power generation and is determined to extend the life of ageing coal fired power plants then the EU is likely to snuff the country out economically with their Carbon Border Adjustment Mechanism. All the while, coal power continues to fail to meet the energy demand of the country and blackouts are a daily occurrance. #eu #southafrica #carbontax #bordertax #export #import #coalpower #carbontracking https://lnkd.in/gTEd6q9B

If the South African government persists with coal power generation and is determined to extend the life of ageing coal fired power plants then the EU is likely to snuff the country out economically with their Carbon Border Adjustment Mechanism. All the while, coal power continues to fail to meet the energy demand of the country and blackouts are a daily occurrance. #eu #southafrica #carbontax #bordertax #export #import #coalpower #carbontracking https://lnkd.in/gy8zVzTR

BIDEN URGED TO HALT OIL EXPORTS Biden Urged to Halt Oil Exports After Terminal Approved https://hubs.la/Q02wPMBS0 Climate activists who successfully pushed President Joe Biden to halt new US liquefied natural gas exports are setting their sights on proposed crude oil shipping facilities, after the administration approved a massive petroleum terminal last month. #climatechange #activists #energyindustry #oilandgasindustry #oilandgas #enerygnews

How is this a win for climate activists? LNG largely displaces coal which has a more detrimental effect on the environment. This move only serves to increase the likelihood that LNG needs in Europe and elsewhere are met by Qatar and other international players thus no effect on the environment and weakens U.S.

In the ongoing discourse between Federal Labor and Liberal parties surrounding Australia's commitment to the Paris Climate Agreement and the pledge to achieve net-zero emissions by 2050, a critical analysis of both political and environmental strategies is essential. The Paris Climate Agreement, primarily crafted by politicians from nations that are not major fossil fuel exporters, predominantly focuses on reducing local emissions. This localised approach, however, does not account for the broader implications on global emissions. A troubling consequence of this approach is the temptation for countries to shut down local emitters and switch to importing goods and energy. This tactic creates an illusion of progress while undermining genuine global emission reductions. Europe’s energy strategy exemplifies this issue. The continent significantly curtailed local gas exploration, opting instead to import gas from Russia, and more recently, from U.S. shale and Qatar LNG. Closer to home, New South Wales and Victoria have also restricted local gas exploration, relying on imports from other states and planning new LNG import terminals to accommodate these imports. This strategy highlights the same flawed logic of exporting emissions rather than addressing them. The fundamental question remains: how do we prevent politicians from achieving net-zero targets by exporting emissions and potentially harming our economy?