Ryan Dezember
speaker
644 appearances
11 recordings
1 series
first heard May 2018
last heard Jun 2024
Ryan Dezember’s voice in public audio — every appearance, attributed to the second.
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Appearances
One of the things that American businesses and energy companies did when the shale drillers unlocked the glut of cheap natural gas is they built export terminals to sell that abroad where it fetched a higher price.
Now a lot of the world is hooked on American shale gas.
That's a lot more customers, right?
So demand has risen.
Meanwhile, producers have had to sort of dial back so that they could stay in business, you know, not drill so much and flood the market, sort of hold back, let supply and demand balance better so that they can keep drilling and so that they can appease shareholders who are getting sort of tired of the companies that they own flooding the market of their primary product and driving down the price.
You know, the supply picture, we're back on an upward trend.
You know, the pandemic really stopped a lot of markets and a lot of businesses in their tracks.
We still haven't gotten back up to the record per output that we had in the weeks and months before the economic lockdown in 2020.
But we're getting close.
Recent data suggests that producers, that there was about a 2% increase in production from October to November.
Now, that's a significant jump.
And it's not coming necessarily from the biggest gas producers that can kind of control the market.
It's coming from increased drilling in Louisiana, which feeds a lot of the export terminals on the Gulf Coast and the chemical facilities down there.
We're seeing the rise in oil prices in recent months.
has meant more drilling in West Texas, which those wells, although they're drilled to get to crude oil for gasoline, they produce a lot of natural gas as a byproduct.
So we're seeing an uptick in production there.
And you're also seeing, even though the big Appalachian drillers are sort of holding to their budgets and their drilling plans and their agreements with shareholders,
you have a lot of independent and smaller companies that said, look, $5 gas looks good to me because I'm used to $2 or $3 gas.
So they've gone out and started to ramp up production.
So we're seeing it get back on the upward trend where a lot of people, forecasters on Wall Street and in the energy industry see the price moderating into next year to be in the $3.50 range, which is a little higher than years past.
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