ED - The war in Ukraine has created turmoil in the global energy market. In response to current geopolitical instability, have you seen any shifts in public demands for American energy? If so, what are they?
RJ - The Russian invasion of Ukraine has resulted in a massive pull on US LNG, with our export terminals running at full capacity and likely to continue at that level given the significant and growing global demand for natural gas. I also believe it has shifted public perception of oil and natural gas, with a greater share of the population recognizing the critical role they play in our modern economy and the importance of energy independence.
ED - What are the new opportunities for the Permian Basin in light of the current instability, and what do you think the next 10 years will look like in the region?
RJ - The Permian Basin has led the growth in oil and gas production this year, demonstrating its ability to react to global energy needs and helping cement America’s role as an energy superpower. Looking ahead, it will continue to play a key role in meeting our considerable energy demands here at home and also providing critical support to our allies abroad.
ED - What’s the greatest obstacle standing in the way of increased production, processing, and distribution in the U.S.?
RJ - Infrastructure.
While our industry faces many obstacles at the moment, none is greater or more pervasive than the lack of needed energy infrastructure – especially pipelines. Insufficient infrastructure cuts both ways – impacting growth on the supply side and the ability to meet consumer needs on the demand side. Regulations and growing policy uncertainty have made it difficult to get critical projects built and have contributed to higher prices for American consumers.
ED - Ideally, when you walk away from Permian Energy Dialogues, what will you hope to have accomplished or discussed? What are you most excited about for PED 2022?
RJ - Ideally, I’d like people to have a better understanding of the importance of American oil and gas at a time when the world is starved for energy. I’d also like people to recognize that misguided policies are making it difficult to increase production during this critical time, and that in order to solve the challenges we currently face it will require an “all hands on deck” approach.
ED - Any closing thoughts you’d like to share?
RJ - As I mentioned, the world is starved for energy right now, and we need to ensure that our domestic energy policies are designed to minimize uncertainty and allow customer needs to be met – both here and abroad.
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