financetom
Business
financetom
/
Business
/
Harris understands fracking ban raises energy costs, industry execs say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Harris understands fracking ban raises energy costs, industry execs say
Sep 22, 2024 6:10 PM

HOUSTON, Sept 17 (Reuters) - U.S. Vice President Kamala

Harris understands natural gas prices will rise if fracking is

banned, industry executives said on Tuesday, explaining their

confidence that the Democratic candidate will not ban the

production method if she becomes president.

Fracking, a major industry in battleground state

Pennsylvania, has become a big issue in the presidential

campaign. Harris opposed fracking as a U.S. senator from

California, but now she says she would not ban it on federal

lands as president.

"I think she is changing her views," Baker Hughes ( BKR ) oil field

services Chief Executive Officer Lorenzo Simonelli said on the

sidelines of the GasTech conference in Houston, when asked about

Harris.

A spokesperson for Harris said she would not ban fracking,

and referred to her comments in a recent debate where she said:

"I was the tie-breaking vote on the Inflation Reduction Act,

which opened new leases for fracking. My position is that we

have got to invest in diverse sources of energy so we reduce our

reliance on foreign oil."

Harris's Republican rival, former President Donald Trump,

supports fracking and says he believes Harris would seek to ban

it.

The head of the largest U.S. liquefied natural gas (LNG)

exporter, in a separate conversation at GasTech, said Harris had

to pivot to being more open to fracking, because natural gas

prices would be much higher without it.

Cheniere Energy CEO Jack Fusco, whose Sabine Pass

facility in Louisiana is the largest U.S. LNG export plant, said

he trusts Harris's support of fracking unless proven otherwise

and wants cooler heads to prevail on the energy transition

debate.

Woodside CEO Meg O'Neill, whose Australian energy

company is buying U.S. LNG plant developer Tellurian,

voiced the same rationale.

"If you stop fracking in the U.S., it will be devastating

for the economy," O'Neill said. "I suspect the statements she

made earlier were made without full understanding of the benefit

and potential consequences."

Harris is locked in a tight race with Trump, and both are

campaigning hard in Pennsylvania, one of the nation's largest

producers of natural gas.

Several executives at the conference also called on the

Biden administration to make it easier for U.S. companies to

export LNG. The White House in January paused new LNG permits to

consider the environmental impact.

"You gotta stop this crazy LNG pause from going forward,"

said ConocoPhillips ( COP ) CEO Ryan Lance. A debate over

whether one is pro or against fracking "is not the right

question", he added.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Pivotal Manufacturing Partners and Declaration Partners Announce $74 Million Acquisition of Advanced Manufacturing Facility Serving as the Global Headquarters of Commonwealth Fusion Systems
Pivotal Manufacturing Partners and Declaration Partners Announce $74 Million Acquisition of Advanced Manufacturing Facility Serving as the Global Headquarters of Commonwealth Fusion Systems
Sep 24, 2025
Pivotal and Declaration Acquire 165,000 SF facility from King Street Properties and The Baupost Group; Goldman Sachs Provides Financing for the Transaction NEW YORK & WASHINGTON--(BUSINESS WIRE)-- Pivotal Manufacturing Partners, a real estate investment platform focused on next-generation advanced manufacturing, and Declaration Partners LP today announced the $74 million acquisition of the Commonwealth Fusion Systems (CFS) global headquarters building at...
Xcel Energy reaches settlement related to 2021 wildfire in Colorado
Xcel Energy reaches settlement related to 2021 wildfire in Colorado
Sep 24, 2025
Sept 24 (Reuters) - Xcel Energy ( XEL ) said on Wednesday it has reached settlement agreements that resolve all claims related to the 2021 Marshall Fire in Colorado. The U.S. utility's unit Public Service Company of Colorado expects to pay roughly $640 million related to these settlements. (Reporting by Vallari Srivastava in Bengaluru; Editing by Shinjini Ganguli) ...
Aris Mining Reports Safe Recovery of all Workers at Segovia Partner Mine Following Shaft Collapse
Aris Mining Reports Safe Recovery of all Workers at Segovia Partner Mine Following Shaft Collapse
Sep 24, 2025
02:20 PM EDT, 09/24/2025 (MT Newswires) -- Aris Mining ( ARMN ) on Wednesday said all 23 workers who were underground at the time of the La Reliquia Mine shaft collapse have been safely brought to surface. The group included five Aris Mining ( ARMN ) employees conducting a routine monthly review of La Reliquia's operations. The company on Tuesday...
Capital One $425 million settlement with depositors should be rejected, US states say
Capital One $425 million settlement with depositors should be rejected, US states say
Sep 24, 2025
(Reuters) -A bipartisan group of 18 U.S. states told a federal judge that Capital One's $425 million settlement with depositors who felt cheated out of high interest rates should be rejected, because it lets the bank continue short-changing customers. Led by New York Attorney General Letitia James, the states objected in a filing made public on Wednesday in federal court...
Copyright 2023-2026 - www.financetom.com All Rights Reserved