US Gas Exports can replace Russian Supply: Toby Rice

Amid the Russian invasion of Ukraine, when the world is concerned about the scarcity of crude oil and gas as most of the countries banned the import of Russian energy, One energy boss of the United States seems least bothered. Toby Rice, who runs the US largest natural gas producer EQT, thinks that the US could easily replace Russian supply. Mr. Rice said: "We've got the ability to do more, the desire to do more." He seems optimistic about the US supply capacity and said that the United States would likely quadruple its gas supply by 2030. Almost a week ago before Mr. Rice’s announcement, US Energy Secretary Jennifer Granholm requested the country's fuel industry to pump more oil. Mr. Granholm said: "We are on a war footing. That means you producing more right now, where and if you can.” In the past decade, oil producers have produced more oil in response to the higher oil prices, which eventually led prices to crash. Mr. Rice further said: "It's got to be demand first and not just chasing short term price signal."