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🛢️ Millionaire of the Week: "Diamond" Glenn McCarthy
And US Gas Demand & LNG Delays
The Oilman
January 2nd, 2025
Good morning, here's what the OilPatch Team has for you today:
U.S. Gas Demand Falls on LNG Delays
Natural gas demand in the U.S. last year dipped lower.
It sounds absurd but there you have it.
The reason behind the dip were delays in new LNG terminal construction.
This is about to change.
Global LNG exports grew at the slowest pace in almost a decade 🚢⚠️
🗓️ Delays to US projects, sanctions against Russia's expansion have kept a lid on additional supply
💰 This threatens to keep prices elevated until new supply comes to meet rising demand
bloomberg.com/news/articles/…— Stephen Stapczynski (@SStapczynski)
5:06 AM • Dec 31, 2024
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Millionaire of the Week: Glenn McCarthy
“Diamond Glenn” with $1.50 in the pocket
One of the Texas oil legends, Glenn McCarthy, started with nothing.
Unless you count $1.50 as something, which he didn’t.
McCarthy started working at the oilfields at age 8. He was paid $0.50 a day.
So years later, when he dropped out of college, he had three days’ wages on him.
But “Diamond Glenn” had savings.
He put these into drilling with his dad and brother. It took him two years to strike oil. Over a decade between 1932 and 1942, he made 38 discoveries.
It was truly the golden age of oil.
Happy Birthday to the late Glenn McCarthy, out of Beaumont, Texas; American Oil Tycoon; The media often referred to him as “Diamond Glenn ” and “The King of the Wildcatters.” McCarthy was an oil prospector and entrepreneur who owned many businesses in various sectors of the… x.com/i/web/status/1…
— Larry in Missouri (@LarryInMissouri)
3:27 PM • Dec 25, 2023
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Tweet of the Day
Another year in Oil
— Texberta, PhD (Poor/Poorer) (@Albertagarbage)
6:30 PM • Dec 31, 2024
Thanks for reading today’s Oil Patch!
Stay oily, my friend.
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