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The U.S. Appalachian Basin is home to some of the most significant natural gas reserves on the planet, but it also has high costs.Emissions will continue to rise due to “We simply lack the infrastructure“A frustrated Williams Cos.NYSE:WMBIn a Bloomberg interview, Alan Armstrong, CEO, stated the following.
Williams (WMB) is one of the biggest U.S. pipeline operators, and it has seen proposed projects – including its own Constitution pipeline – get killed by regulators, courts and lawmakers in recent years, as “people that are really serious about climate change… don’t seem to care about the next 10 or 15 years” of supplying energy to consumers, the CEO told Bloomberg.
Armstrong cited one example: New England is limited in its ability to bring natural gas via pipelines from neighboring states in Appalachia basin. However, the region has burned the most oil to create electricity in over a decade. The CEO maintained that emissions will likely continue to rise if the Northeast continues consuming more oil to produce power.
Armstrong stated that it is becoming increasingly difficult to build new pipelines in Northeast. Therefore, gains in reducing U.S. emissions will be made in the South and other areas of the country where it is more easy to obtain regulatory approval to build pipelines.
Armstrong stated that expanding natural gas capacity would be a fast and economical way to reduce carbon emissions in Northeast because of the increasing energy demand, constraints on building solar or wind facilities, and hydrogen produced from renewables not yet widely accessible.
Williams (WMB) last week reported Better than expected Q1 adjusted earnings, and higher full-year guidance.
