Good morning, here's what the Oilman has for you today:

• Gas Pipeline Shortage Looks Large: EQT Chief

• UK To Mandate Oil Gas Licensing

• Upcoming Oil and Gas Events

• Tweet of the Day

Gas Pipeline Shortage Looks Large: EQT Chief

A shortage of gas pipelines is threatening to turn some parts of the United States into Europe.

The warning was issued by the CEO of EQT, Toby Rice.

Rice also said this shortage is threatening the fabric of the U.S. economy.

Lots of supply but no way to move it

“The industrial world that we enjoy now is severely compromised because of the lawsuits, the pushback, and the movement to cancel energy infrastructures and modern society.”

That’s what Rice told the FT in an interview.

He was referring to all the climate lawsuits against new pipeline development with zero thought of the consequences.

These basically come down to limits on gas production…

Which is exactly what the environmentalists want.

What they probably don’t want are higher energy bills, but that’s what they’ll be getting in the absence of cheap local gas.

Future looks grim

Since 2016, four new pipeline projects in the U.S. have been canceled because of strong opposition.

Imagine how strong it must have been if even Trump’s administration couldn’t do anything about it.

But the current Congress is doing something about it.

Legislators had to pass a special act in order to greenlight the Mountain Valley Pipeline.

Per Rice, if you need a special law to approve a pipeline, that “should scare the hell out of people.”

He’s right, too.

Imagine Congress having to pass a law every time a company wants to build a gas pipeline.

That would be insane. And slow.

We might also have to forget about all that new LNG capacity.

You can’t build that if you can’t get the gas to the liquefaction trains.

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UK To Mandate Oil Gas Licensing

The UK government is moving to make oil and gas licensing mandatory.

It sounds like a joke, but it isn’t.

The Sunak government has realized local supply is better than imports.

Better late than never

The Tories are facing an uphill battle against the Left next year.

To gain some late points, Sunak has been rolling back some net-zero targets.

First, he delayed the ICE car ban by five years.

Then he issued 27 new oil and gas licenses for the North Sea…

And said he’ll issue hundreds more.

Now, he’s looking to make that licensing mandatory.

Transition’s evidently not going according to plan if it’s turning people away from your party.

The foundations of energy security

“It’s common sense to reduce our reliance on foreign imports and use our own supply,” said the UK’s Energy Security Secretary.

You think?

Can you imagine it took them so long to figure out what’s probably the number-one rule of energy security?

Of course, local is better than imported for energy security.

Plus, as Sunak has argued, local is greener.

He’s probably right, too.

The UK likely has a lot more stringent emission controls than, say, Qatar.

Regular licensing is a win-win.

Except for the professional street gluers, that is.

For everyone else, it’s a good thing.

And a green thing, obviously.

Upcoming Oil & Gas Events

• November 6-8: IPAA Annual Meeting, JW Marriott San Antonio Hill Country Resort and Spa, San Antonio, TX

• November 7: LOGA State of the Industry Series, Petroleum Club of Houston, Houston, TX

• November 8: Colorado Oil and Gas Association 39th Annual Meeting, Denver, CO

• November 8: IADC Annual General Meeting, Hyatt Regency Austin, TX

• November 9: Deepwater Executive Summit, Hyatt Houston West, Houston, TX

• November 13: LOGA State of the Industry Series, Le Pavillion Lafayette, LA

• November 14: LOGA State of the Industry Series, Petroleum Club of Shreveport, Shreveport, LA

Around the Global Patch

🇸🇦 Saudi halts flagship crude price surge.
🇰🇼 Kuwait national oil company's $45 billion funding challenge.
🇨🇳 Baltic Sea pipeline incident involving Chinese ship.

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