Letters from the president
Imagine being in a business for forty years. What was once new and groundbreaking is now normal-course, commonplace; it makes you often say, “remember when?”.
There was no such thing as natural gas deregulation when we began our company almost 4 decades ago. In fact, natural gas was in very short supply in the mid 1970s. And then, ambitious laws were written to allow for competition and the free market to take hold (think The Natural Gas Policy Act as an example). Fast forward to today, and we see a boon to an industry making more gas than ever imaginable.
Yes, the shale revolution combined with well thought out pipeline regulations are creating inexpensive energy, industry and industry related jobs, national security and a sense of American pride sorely missing since Grand dad’s steel mill closed. We find the stuff here, we make it come out of the ground and we make sure it gets to those who need it. Safe, clean and profitable. The natural gas industry was good in 1978. It’s great today.
Our trading room lights up to a whirl of activity each morning. One day I said to the gang, “remember when you only had to drill a well, sell what comes out to a pipeline and then go home?”. I get blank stares. I’ll press further. “ Remember when we hit a well that made 300 mcfs per day and we drank champagne to celebrate?” A voice from behind a computer screen retorted, “Big deal Steve…as of this year, we market that amount of natural gas every minute of every day!”
Forty years ago we drilled a gas well in a Vineyard. Today, each day, we market one half a billion cubic feet of natural gas for and to some of the greatest companies in the United States. Imagine…