Anger over rising energy costs will eventually force states to allow more natural gas infrastructure to be built in the US, according to one of the nation’s largest producers of the fuel.
“We’ve never produced more energy than we’re producing now, but Americans’ energy bills are up over 35%,” EQT Corp. Chief Executive Officer Toby Rice said Thursday at BloombergNEF’s Barrel of Tomorrow in the Age of AI summit in Houston. “That’s the catalyst that’s going to get people asking questions.”
Rice and other panelists including Chris James, founder and chief investment officer of investment firm Engine No. 1 LP, and Cynthia Hansen, head of gas transmission and midstream at Enbridge Inc., see developing more infrastructure, particularly natural gas, as the way to bring down utility bills as well as meet demand from data centers supporting artificial intelligence. Rice, the head of the $31 billion natural gas supplier, discusses the opportunities and challenges within his industry with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.