Frank C. Fisher Weighs in on Current Oil, Natural Gas Debate
With high gasoline prices but low natural gas prices, many energy experts are arguing over the future of the American fuel industry, including veteran oil and gas expert Frank C. Fisher.
NEW YORK, NY, May 01, 2012 /24-7PressRelease/ -- The cost and production of fuel are always topics of intense discussion and scrutiny, but recently, they have proven more volatile topics than ever before. Many American families are struggling with high prices at the gasoline pump, even as the prices of natural gas are very low. This has led to intense debate within the energy production industry, something a recent news report makes clear. The debate has even drawn the attention of long-time industry leaders like Frank C. Fisher, a retired Houston attorney and oil and gas professional who responds to the current oil and gas debates in a statement to the press.
According to the news report from Oklahoma, many fuel companies are backing away from the exploration and production of natural gas. This stems from the current low prices of the fuel. However, there are some who believe natural gas remains essential, and that production of it should carry on as normal. Aubrey McClendon, controversial CEO of Chesapeake Energy Corporation, has made the point in speeches that natural gas has been foundational to the economy for decades, and that giving up on it in any way would be a mistake.
Frank C. Fisher, in his press statement, responds with his own viewpoint. "The bottom line is that the oil and gas industry must do right by their own stakeholders while also doing right by the consumer," writes Fisher. "In the long run, it is going to benefit everyone to have both oil and natural gas on the table, as well as continued exploration of other fuel sources."
Frank C. Fisher's comments are affirmed by John Richels, the CEO of Devon Energy Corp. Both of these industry leaders note that the current low prices on natural gas will not last. Regardless, domestically produced gas will remain "a bargain" compared to imported oil, meaning it ultimately remains an essential option and a good investment for fuel companies and consumers alike.
The current discussion and debate over the state of natural gas comes, ironically, after an unprecedented boom in gas production. Currently, supplies of natural gas are estimated to be higher than they have been in a hundred years. Prices, meanwhile, are lower than they have been in a decade. The industry response has been to decrease drilling for natural gas while also focusing their resources on oil drilling.
But according to Frank C. Fisher, this response is only half correct. "There is certainly much to be said for pushing consumers to use natural gas in new ways, to take advantage of the abundant supply we have," says Fisher. "However, it is important to remember that the supply of natural gas we have is ultimately a boon to consumers, and that should be celebrated and utilized to strengthen our nation. Oil drilling is definitely vital and desirable, but a great supply of natural gas is hardly a problem. It is, rather, an opportunity."
Frank C. Fisher is a Texas-based retired attorney with a significant history of consultation in the oil industry. Mr. Fisher works in Houston, Texas and consults on behalf of some of the area's leading producers of oil and natural gas, plus ancillary industries.
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