Decades ago, conventional wisdom held that the U.S. was about to run out of domestic oil and gas -- and doomed to be dependent on foreign countries for its supply.
But since then something astonishing happened. Domestic output of oil in the US has increased dramatically, while net petroleum imports have plunged to the lowest levels since 1991. And for the first time in seven decades, in 2020 the US was a net annual exporter.
How did this happen?
The shale revolution, an under-recognized story of innovation and achievement. To explore that story and its ramifications, Elan Journo interviews Nick Deiuliis, President and CEO of CNX Resources, who has had an insider’s perspective on the transformation of the energy industry.
Among the topics covered:
How Deiuliis became involved in the energy industry; [2:01]
The technological developments (horizontal drilling and hydraulic fracturing) that created the shale revolution; [6:57]
Why natural gas has a better risk-reward profile than solar and wind energy, as well as coal; [14:56]
How Europe’s anti-fossil fuel policies create a dependence on and embolden countries like Russia and China; [20:57]
Ongoing regulatory and social pressure campaigns that stifle the growth of the natural gas industry; [29:21]
The meaning of Deiuliis’s statement, “To be anti-carbon is to be anti-human.” [37:48]
00:00 Introduction 02:01 Getting into the energy industry 06:57 The shale revolution 14:56 Risk-reward profiles 20:57 Emboldening Russia and China 29:21 Stifling natural gas industry 37:48 Anti-carbon = anti-human