1 / 10

July 2005 Annual Meeting The Plaza Resort & SPA Daytona Beach, FL

Going Up? Going Down? Exploring the Future Availability and Prices of Natural Gas Panel Discussion. July 2005 Annual Meeting The Plaza Resort & SPA Daytona Beach, FL. Purpose of Panel. Discuss Supply and Demand Picture Discuss what drives prices Where are future prices headed?.

lydia-olsen
Download Presentation

July 2005 Annual Meeting The Plaza Resort & SPA Daytona Beach, FL

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Going Up? Going Down?Exploring the Future Availability and Prices of Natural GasPanel Discussion July 2005 Annual Meeting The Plaza Resort & SPA Daytona Beach, FL

  2. Purpose of Panel • Discuss Supply and Demand Picture • Discuss what drives prices • Where are future prices headed?

  3. What is Causing the Problem? • Demand for natural gas is increasing • Production in older natural gas wells is declining • New wells are not being drilled fast enough to meet increasing demand • Political and environmental drilling restrictions • Natural gas reserves are limited, no new large discoveries

  4. U.S. House of RepresentativesSpeaker’s Task Force For Affordable Natural Gas (TFANG) TFANG’s Charge • The Cause of today’s natural gas shortages; • The impact of natural gas prices on the American economy; and, • Short and long-term ideas to encourage a stable supply of natural gas to ease prices.

  5. Access to America’s Abundant Gas Resources • Much of the natural gas located on private lands has been produced • Over 60% of our nation’s future gas reserves are on land controlled by the government • Gov. policies are making it increasingly difficult, if not impossible to access these promising reserves

  6. TFANG’s Conclusion “…..given the political difficulties Congress faces on many fronts, very-near-term solutions would require more political determination on the part of Congress than can be garnered.”

  7. May 31, 2001 “Yes, an oil spill is remote. And technology has improved over the years. But Florida can't afford to take that risk, no matter how remote.”

  8. Panel Speakers • Tom Fry, President National Ocean Industries Association. • Andrew Weissman, CEO Energy Ventures Group, • Les Deman, Director, Fundamental Research & Analysis Shell Trading Gas & Power Company • Jim Choukas-Bradley, Attorney Ballis & O’Neil, P.C.

  9. Viewpoints of Our Speakers • Recent surge in natural gas....prices due to tight overall supply/demand balance ..... • We are not running out of gas there is plenty of gas • Estimates understate significant potential for prices to rise far higher than predicted: Not 10-20% but 2-4x. • Producers do not believe $5, $6, and $7/MMBtu gas prices are sustainable

  10. Viewpoints of Our Speakers • Oil and gas prices remain on higher plane for several more years • And this too shall pass • Natural gas demand will increase in all regions • Less than 19% of OCS is open to development • Renewable resources alone cannot meet rising demand.

More Related