Thanksgiving Special: a family debate about energy
Nov 17, 2023
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Danny and Toby Rice, two successful brothers in the energy industry, debate the role of gas as a climate solution, emphasizing the need for zero carbon energy. They discuss methods like net power and carbon capture to convert natural gas into zero carbon electricity. The speakers highlight the importance of objective, data-driven discussions and express gratitude for advancements in energy security.
The Rice brothers emphasize the role of natural gas in reducing emissions and strengthening energy security.
They highlight the industry's efforts to address methane emissions and advocate for transparency and third-party verification.
They stress the importance of being open to new technologies and taking an all-of-the-above approach to achieve effective decarbonization.
Deep dives
The importance of energy security and lower emissions
Toby and Danny Rice discuss the importance of energy security and lower emissions. They highlight the role of the US in reducing emissions by using natural gas to replace coal. They emphasize the need to focus on practical solutions, such as leveraging the vast natural gas resources to decarbonize the world. They also mention the significance of technologies like net power, which can convert natural gas into zero carbon electricity. The Rice brothers stress the importance of energy transition, highlighting the need for an unbiased and holistic view to explore all possible solutions.
Addressing concerns about methane emissions
The Rice brothers address concerns about methane emissions in the natural gas industry. They highlight the industry's efforts to address this issue, such as replacing pneumatic devices with zero methane emission technology. They emphasize the importance of transparency and third-party verification to ensure that methane emissions are effectively addressed. They mention initiatives like the Appalachian methane initiative, which conducts aerial flyovers to detect and address methane emissions. They reiterate their commitment to lower emissions and promote an objective discussion grounded in data and reality.
The role of carbon capture and sequestration
The Rice brothers discuss the role of carbon capture and sequestration in decarbonizing the energy industry. They emphasize the vast storage capacity for CO2 and the potential for decarbonizing coal power generation. They highlight the need for technologies like net power, which can achieve zero carbon emissions in power generation. They argue that focusing on just a few energy sources narrows down the possibilities and hinders progress. They stress the importance of being open to new technologies and having an all-of-the-above approach to achieve effective decarbonization.
Balancing the need for speed and long-term solutions
The Rice brothers acknowledge the urgency of reducing emissions and meeting climate goals. They discuss the deployment of existing technologies to reduce emissions swiftly while keeping the door open for new technologies to develop. They emphasize the importance of global-scale solutions, such as replacing foreign coal with natural gas and deploying technologies like net power. They caution against setting unrealistic deadlines that limit the options for achieving long-term decarbonization. They advocate for a comprehensive and objective approach to navigate the energy transition.
Embracing a diversity of perspectives and open dialogue
The Rice brothers express gratitude for those who think outside the box and challenge norms in the energy transition space. They emphasize the value of diverse perspectives and open dialogue to find the best policy framework for addressing the challenges of the energy transition. They underscore the importance of freedom of speech and respectful debates to foster innovation and progress. They encourage listeners to consider alternative viewpoints and approaches to accelerate the development of scalable and effective solutions.
Thanksgiving is a special time in America when families across the country get together and argue. In honor of that tradition, host Ed Crooks and regular Amy Myers-Jaffe are joined by Danny and Toby Rice, two brothers who have both had very successful careers in energy but have gone in somewhat different directions.
Toby Rice is president and chief executive of EQT, the largest producer of natural gas in the US. He is an advocate for the benefits of exporting liquefied natural gas, and makes the case for its importance in strengthening energy security, creating jobs, and cutting greenhouse gas emissions. Danny Rice is chief executive of NET Power, which is developing utility-scale power plants with its proprietary technology that uses natural gas while capturing more than 97% of its emissions.
With Ed and Amy, they debate the case for gas as a climate solution. Is gas really any better than coal when full life-cycle emissions are counted? And even if it can reduce emissions, how much good is that when what we need is not lower carbon but zero carbon? How much does the case for gas rely on carbon capture and storage, which has no clear path to large-scale deployment?
Join us at the Energy Gang table for a Thanksgiving debate on family, energy, and what we should be thankful for.
