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 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.
August 28th is the last day of The Energy Summit, and also our closing evening event at Coors Field. Who will you be rooting for – Rockies or Red Sox?
For sure the Rockies. I’m originally from Vermont, and I understand the history of the hapless New England sports fan, but let’s be honest here – those fans made the transition from suffering to insufferable a few years go. Go Rox!
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.
About Jack Weixel
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.