Exploring the manipulation of natural gas as a green energy solution, the role of lobbying groups, the ambitions of a young oil CEO in the LNG industry, deceptive greenwashing practices, and the divide in the US gas industry with shale companies competing against oil majors.
The push to brand liquefied natural gas as 'green' is driven by North American producers for export terminals and lobbying efforts.
Monitoring and auditing emissions improvements in 'certified gas' are questioned for validity, revealing discrepancies in claims versus reality.
Deep dives
The Misleading Promotion of Natural Gas as a Green Energy Solution
The episode exposes a front group of North American natural gas producers constructing the narrative of natural gas as a green energy solution. This narrative is crucial for securing export terminals and lobbying efforts in the US and Europe. Toby Rice, CEO of EQT, positions himself as a proponent of making gas a sustainable business despite the industry's historical boom and bust cycles.
Challenges of 'Certified Gas' in Reducing Methane Emissions
The podcast delves into the concept of 'certified gas' aiming to reduce methane and CO2 emissions associated with natural gas production. However, the effectiveness of monitoring and auditing these emissions improvements is highly questionable. Projects like Project Canary have shown discrepancies between the industry's claims of responsibly sourced gas and the realities of pollution events.
Concerns Surrounding Long-term LNG Contracts and Market Glut
The discussion highlights the push by US gas producers for long-term contracts with European buyers, aiming to lock these consumers into LNG deals. However, European demand for LNG is decreasing, raising concerns about potential gas glut and oversupply. The episode emphasizes the risk of locking into extended contracts in a market with diminishing demand and increasing emphasis on renewable energy sources.
As part of our ongoing series looking into new climate problems the fossil fuel industry is peddling as solutions, we did a deep dive into the push to position liquefied natural gas—a fossil fuel—as "green" and discovered one particularly active lobbying group.