Energy Summit Panelist Profile

Jack Weixel

Session: Impacts of the Crude Price War and COVID-19 - Who Survives in an Oversupplied, Low Commodity Price Environment?

​With the failure of OPEC+ members to make a substantial cut to crude oil production, the forecast for crude oil prices remains grim as demand dries up across the world.  The crude oil and natural gas markets in North America are now faced with a series of unique and difficult challenges not seen in decades, if ever.  At the same time as crude oil and associated gas production is falling victim to a reduction in the price of crude oil, the spread of COVID-19 has disrupted both domestic and export demand of natural gas in North America and across the globe.  This session will provide a forecast of how long low price pain will endure, characteristics of operators who are most likely to survive and testimonial from individual operators who are navigating the choppy waters ahead. 

Senior Director
IHS Markit

Panelist Profile

---

back to schedule

session info

Register

---

About Jack 

Jack Weixel is a Senior Director with IHS Markit and leads a team focused on modeling real-time, short-term and long-term forecasts of natural gas demand and storage.  Jack comes to IHS Markit from OPIS where he helped build that company’s first ever natural gas fundamentals service, the PointLogic Energy Suite.  Prior to joining OPIS and IHS Markit, Jack was a director for Bentek Energy, managing its North American Natural Gas, European Gas, and GIS business units in addition to serving on the company’s Senior Leadership Team.  He previously led the company’s Client Services division along with the company’s Midcontinent and Canadian natural gas desks. Before joining Bentek in 2006, Jack spent seven years as a senior energy regulatory consultant for the EOP Group, Inc. in Washington, DC after working in the U.S. Senate. He holds a Master in Business Administration from George Washington University and a degree in Finance from Emory University in Atlanta, GA.  

2019 Energy Summit Panelist
Future of Natural Gas in an Emerging Renewables Economy​

The emergence of grid scale battery storage in combination with a growing share of renewable generation represents a real threat to natural gas’s reign as the fuel of choice to supply power to the grid. Already the competition between renewables and natural gas is limiting the potential for natural gas demand growth in the Rockies and greater Western United States, just look at the stagnant growth in natural gas export to states like California. Lack of demand bottlenecks supply, which means lower prices for producers. Where is the balance and what does the future hold for natural gas production in the region?

2019 Q&A with Jack Weixel

Why do you think this topic is critical in the oil and gas industry at this time?

The emergence of grid scale battery storage in combination with a growing share of renewable generation represents a real threat to natural gas’s reign as the fuel of choice to supply power to the grid. Already the competition between renewables and natural gas is limiting the potential for natural gas demand growth in the Rockies and greater Western United States, just look at the stagnant growth in natural gas export to states like California. Lack of demand bottlenecks supply, which means lower prices for producers. Where is the balance and what does the future hold for natural gas production in the region?

What do you expect to be the key takeaways from the panel discussion?

I’d hope attendees get to hear the issue from all sides because surely a moderate path is the preferred way to proceed, rather than rushing in. It will be interesting to hear how electric generators will balance system load, ideas that producers have to stimulate natural gas demand growth, and of course be able to better predict the breadth and depth of the emerging renewables economy and its ability to penetrate the power generation market.

How do you personally stay current on this topic?

At IHS Markit, we have a tremendous amount of data resources and subject matter experts at our disposal. In addition to power generation, capacity mix and natural gas production history and forecast data at the most granular levels, we also have dedicated renewables and grid storage teams who track announcements and technical documentation on some of the advancements in this field. Outside of that, Google Alerts can be extremely helpful! Type in a few keywords and then let the information flow to your inbox each morning as you get to the office.

---

Energy Summit Insights - Categories

All
2019
2020
Leadership Profile
Panelist Q&A

---