By David Uberti
The head of one of America's largest natural-gas producers is relieved that Vice President Kamala Harris got religion on fracking.
In the 2020 Democratic primary, Harris supported a ban of the technology, which helped turn the U.S. into the world's largest oil-and-gas producer. As the White House hopeful vies for votes in states like energy-rich Pennsylvania this time around, she has reversed course.
That is a welcome change to Toby Rice, chief executive of Pittsburgh-based EQT and leading evangelist of U.S. gas drillers' ability to displace coal and fuel energy hungry European allies.
"It's good to see that Kamala is understanding that," Rice said in an interview. "It's great that our leaders will reassess some positions."
Rice still smarts from the Biden administration's freeze of new approvals to export liquefied natural gas. A win for climate advocates, the move at least momentarily undercut the gas industry's long-term case for higher prices--and profits.
In Rice's view, as America's AI ambitions gobble up power and foreign countries shun coal, more gas infrastructure is needed fast. "The talking point in DC...is, 'It can't be that bad because this country has never produced more energy.' And that is true," Rice said. "Ask yourself the question: We are the largest [producer], but is it enough?"
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(END) Dow Jones Newswires
September 25, 2024 11:42 ET (15:42 GMT)
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