SHALE Magazine July/August 2022 by SHALE Oil & Gas Business Magazine

JULY/AUGUST 2022

ENERGY CRISIS IS AN OPPORTUNITY FOR U.S. LEADERSHIP AN ART-FULL APPROACH TO LEARNING

BIDEN’S CONTINUED ASSAULT ON OIL AND NATURAL GAS WHAT IT WILL TAKE TO BRIDGE THE E&P’S WORKFORCE AGE AND SKILLS GAP DURING THE GREAT RESIGNATION

ANNE BRADBURY THRIVING IN A BIG JOB LEADING AXPC

O I L & G A S P L AY E R S

BUSINESS

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MOVING AMERICA’S ENERGY The Port of Corpus Christi puts its energy into what matters most - the needs of our customers. With our proximity and connections to Eagle Ford Shale, the Permian Basin, and beyond, we are built to meet the increasing production throughout Texas and the rising demand for energy across the globe.

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SHALE MAGAZINE  JULY/AUGUST 2022

JULY/AUGUST 2022

CONTENTS 16

SHALE UPDATE

Shale Play Short Takes

COVER STORY

Anne Bradbury has been at the frontline of the expansion of AXPC since 2019. Bradbury’s experience on Capitol Hill and as a House Floor Director during the SHALE Revolution prepared her perfectly for this new venture. She has taken the knowledge she gained about the negative storyline that is told about oil and gas and is rewriting the narrative.

INDUSTRY

From Oil to Eternity: Unleash Those Renewables

POLICY

INDUSTRY

LIFESTYLE

32 Energy Crisis is an Opportunity for U.S. Leadership 34 The Great Green Reset Scam

54 An Art-FULL Approach

POLICY

SOCIAL

40 Policy Decisions by Dim Bulbs Leave The U.S. Power Grid Short of Capacity

42 House Passes FAIR Act to Ban Pre-Dispute Arbitration Agreements

BUSINESS 48 What It Will Take to Bridge the E&P’s Workforce Age and Skills Gap During The Great Resignation

50 War! What Is It Good For? Helping Your Business Avoid Insurance Coverage Battles for Losses Flowing from the Russo-Ukrainian Conflict

to Learning

60 ACIT Honor Industry Achievements

62 Roseland Golf Tournament 64 American Association of Port Authorities’ Mixer

64 San Jacinto College 66 Greater Houston Partnership’s

Future of Global Energy Conference

Biden’s Continued Assault on Oil and Natural Gas

BUSINESS

Deloitte Greenhouse: The Future of Energy at Your Fingertips

LIFESTYLE

Texas Business Hall of Fame Celebrates 2022 Business Legends

SOCIAL

Annual Wine & Food Week SHALEMAG.COM

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For editorial comments and suggestions, please email editor@shalemag.com. SHALE MAGAZINE OFFICE: 5150 Broadway St., Suite 493, San Antonio, Texas 78209 For general inquiries, call 210.240.7188. Copyright © 2022 Shale Magazine. All rights reserved. Reproduction without the expressed written permission of the publisher is prohibited.

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LETTER FROM THE CEO

IT’S ALMOST HARD TO BELIEVE THAT WE HAVE REACHED THE HALFWAY MARK FOR 2022. So many groundbreaking developments have happened within the oil and gas field, and it has encouraged SHALE to grow along with it. We are excited to announce that our coverage is now expanding, not only into energy transition, but also into changes in Environmental Social Governance, and upstream, midstream, and downstream development. Our expansion has also not only been limited to our content. We have established a new base within Houston, Texas, the hotspot of oil and gas activity! This expansion is also seen within the content of our sister media platform, the nationally syndicated radio show In the Oil Patch. In this issue of SHALE Magazine, you will meet Anne Bradbury. The way she blends her background in politics with the interests and representation of producers within oil and gas is trail-blazing. And as always, we have the latest news about the energy industry, business, and policy. To keep up with the ever-changing landscape, don’t forget to follow SHALE on all our social media platforms and visit SHALEmag.com to sign up for our e-newsletter. Significant changes are coming in 2022, so be looking out for our press releases.

KYM BOLADO

CEO/Editor-in-Chief kym@shalemag.com

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SHALE UPDATE

SHALE PLAY SHORT TAKES By: David Blackmon

Bakken Shale – North Dakota/Montana

The North Dakota Industrial Commission, which regulates the oil and gas industry in the state, said in May that drilling and production levels in the Bakken Shale play had achieved 2-year highs. With 40 rigs active in the Basin as of mid-May, oil and natural gas production in the state rose by 3% and 4.5%, respectively, in March versus February. Oil output grew to 1.12 million b/d while natural gas output swelled to 3.0 Bcf/d.

Denver/Julesberg (DJ) Basin - Colorado

A new report from the Payne Institute for Public Policy at the Colorado School of Mines predicts little growth in drilling and production activities in the DJ Basin in the coming years. The report cites limitations on capital availability and disruptions in supply chains as larger limiters to growth rather than over-regulation by the state and federal governments.

Permian Basin – Texas/New Mexico

Norway-based research firm Rystad Energy issued a new report in May in which it projects that oil production from the massive Permian Basin in West Texas/Southeast New Mexico will rise by 1 million barrels per day over the coming 12 months. As investment in and production from other oil basins has stagnated, the Permian has seen explosive growth over the last year. Its current production of 5.6 million barrels of oil per day will rank it as the 4th largest producer of oil globally, trailing only Saudi Arabia, Russia and (barely) the remainder of the U.S.

SHALE MAGAZINE  JULY/AUGUST 2022

Eagle Ford Shale – Texas

Don’t look now, but the Austin Chalk formation that lies just above the Eagle Ford Shale is becoming a hot play one more time. The Chalk first became a major boom area in the late 1970’s, and has seen a series of revivals in the five decades since. Houston-based company Magnolia Oil and Gas Corp. said in May that it has been experiencing good success with its drilling program in the Chalk. They are one of several companies who is experiencing renewed success wringing more oil and gas from the unique formation.

Marcellus/Utica Shale – Pennsylvania/West Virginia/Ohio

A new report from GlobalData projects that the Marcellus/Utica Shale region will continue to see significant production growth through 2025. The firm estimates production growth from the two massive formations will average a compounded annual rate of 5.1% for the next four years. GlobalData also predicted that consolidation for the coming years would be focused among the smaller to mid-size producers in the region.

Haynesville/Bossier Play – Louisiana/East Texas SCOOP/STACK Play – Oklahoma

Big Oklahoma-based producer Continental Resources went against the industry grain of static drilling budgets in its most recent quarterly report, announcing significant increases in its production and capital budgets for the remainder of 2022. Continental reported average daily production of 373,810 boe/d during the first quarter, including 194,767 b/d oil and 1.07 Bcf/d natural gas. Those numbers compare to 307,942 boe/d, 151,852 b/d and 936 MMcf/d for the same period in 2021.

The low emissions profile of Haynesville Shale natural gas, and the play's proximity to LNG export terminals, have made the basin a hub for thirdparty certification, giving it a leg up on other natural gas basins in the whole cottage industry that have sprung up around ESG-related (environment, social, governance) priorities. As ESG gains momentum, the ability to have natural gas certified as “responsibly produced” under the ESG paradigms has become increasingly important to overseas customers for LNG.

About the author: David Blackmon is the Editor of SHALE Oil & Gas Business Magazine. He previously spent 37 years in the oil and natural gas industry in a variety of roles — the last 22 years engaging in public policy issues at the state and national levels. Contact David Blackmon at editor@shalemag.com. SHALEMAG.COM

SHALE MAGAZINE  JULY/AUGUST 2022

PHOTOS PROVIDED BY ANNE BRADBURY

cover story

ANNE BRADBURY THRIVING IN A BIG JOB LEADING AXPC By: David Blackmon

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THE 18

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U.S. oil and gas industry has traditionally been broken down into three distinct business sectors: upstream, midstream and downstream. The upstream sector consists of those individuals and companies who explore for and drill wells to produce the oil and natural gas. The midstream sector consists of companies that build and operate pipelines and plants that break the natural gas streams down into their individual components. And the downstream sector is made up of refiners of crude oil and exporters of both crude and liquefied natural gas. These are the widely recognized and accepted sectors of the domestic industry. The upstream industry sector is very diverse, consisting of thousands of producers of all shapes, organizational structures and sizes. There are the small private independent producers we like to refer to as the “moms and pops.” At the other end of the spectrum are the fully-integrated, “major” companies with recognizable brands like ExxonMobil, Chevron and the domestic segments of Shell and BP. Situated in between those two extremes are the companies that make up the sub-segment typically referred to as the “large independents.” These are the predominately corporate upstream companies with multi-billion-dollar market valuations who have been the most active drillers and producers in the U.S. shale industry for the last quarter-century. This high degree of diversity in the upstream sector has historically been the reason why the industry has been represented by a large number of different trade associations in the various states, and the nation’s capital. In Washington, DC, the interests of the majors have traditionally been represented by the American Petroleum Institute (API), while those of the independent producers have been looked after by the Independent Petroleum Association of America (IPAA). As the number of big, multi-billion-dollar independents multiplied during the 1990s, their public policy interests began to diverge somewhat on several key issues from those of the smaller moms and pops. As a result, it became increasingly apparent that there was a growing space for another association that would focus exclusively on representing those interests in the halls of congress and with the executive branch of government. To fill that perceived void, the Domestic Production Council (DPC) was established by a group of large independents in the late 1990s. As the shale revolution gathered force during the first decade of this century, driven in large part by these big independents, the name was changed to the American Exploration and Production Council, or AXPC.

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I can attest from many years of personal involvement with first DPC and later AXPC that it has always been a very effective voice for the large independents on Capitol Hill and in the presidential administrations of Bill Clinton, George W. Bush, Barack Obama and Donald Trump. The AXPC board of directors consists mainly of CEOs of the 30 or so member companies, and the willingness of these most senior executives from major corporations to personally engage with the political class has always engendered a great deal of credibility. Maintaining that level of influence that has become substantially more difficult during the Biden presidency, not just for AXPC but for all the industry’s trade associations, as officials in it regularly refuse to conduct meetings with anyone from the oil and gas industry. The same has unfortunately been true in the current congress, as anti-industry sentiments have hardened among a radicalized Democratic Party caucus. Shortly before the 2020 elections, the AXPC board decided to expand the scope of the association’s mission, increasing the group’s staff and budget to enable it to engage in more public communications and outreach with the media. This expanded staff and mission coincided with the retirement of AXPC’s previous CEO, Bruce Thompson. Into this brave and challenging new world for AXPC stepped Anne Bradbury, the association’s new and current CEO.

As a result, it became increasingly apparent that there was a growing space for another association that would focus exclusively on representing those interests in the halls of congress and with the executive branch of government 20

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“I SAW HOW IMPACTFUL THE INDUSTRY CAN BE.” “When the Biden administration was transitioning into office, they specifically excluded most political appointees who had experience with the oil and gas industry,” Bradford said during our recent interview. “Which is really unfortunate, because clearly that expertise is needed right now. There are certainly a couple of exceptions here and there, and we work really hard to find, build and maintain relationships with the administration and with Democrat advocates in congress, but it is a challenge.” Our interview coincided with the May runoff elections in Texas. One incumbent congressional Democrat facing a very close challenge for his seat was Henry Cuellar, whose district is centered in the border city of Laredo. Given that Cuellar is one of just a handful of remaining House Democrats who is willing to defend the oil and gas industry, I asked Bradbury how highly she valued that relationship. “It is so important to have Democrat pro-oil and

gas voices in Congress. It is really critical, and Henry Cuellar is one of the most outspoken advocates of our industry,” she said. “We supported him, and we thought that it was important that he be re-elected to maintain that voice.” Bradbury also singled out Houston Democrat Lizzie Fletcher as another Texas Democrat who is always willing to meet with her and her board members and consider their views. “[Rep. Fletcher] was one of the few Democrats who voted against the FTC bill when it went through the House, so we appreciated her leadership on that,” she added. “We do want to support people from both parties, including Democrats who support our industry,” she said. “The national politics don’t always make that easy for them to do, so we want to make sure that we can help them when they need us.” Bradbury knows from years of personal experience on Capitol Hill how crucial it is not just for oil and gas, but for any business sector to enjoy bipartisan goodwill. Before moving into a private sector public policy firm, she spent a decade as the House Floor Director for two Republican House Speakers, Paul Ryan and his predecessor, John Boehner. A graduate of the University of Richmond with a double major in International Studies and Political Science, Bradbury’s interests have always revolved around the political world. That became even more clear when her first job out of college was working on the staff for Virginia Governor Jim Gilmore. “I loved history and I loved politics,” she said. “I probably loved politics even more then than I do now.” When asked what led to her interests in oil and gas, Bradbury pointed to her time in the U.S. House as one germinating factor. “From my time on Capitol Hill, I was there, and I got to see from a 10,000 ft level everything that we did on the house floor,” she remarked. “I really liked energy issues, I was really drawn to them, and I realized that they're very important. I worked on the floor during the duration of the Shale Revolution, and so saw a lot of that from a policy perspective and found those issues very compelling.” Bradbury also points out her personal experience interacting with the industry related to some property she previously owned in Pennsylvania, the center of the huge

Shortly before the 2020 elections, the AXPC board decided to expand the scope of the association’s mission, increasing the group’s staff and budget to enable it to engage in more public communications and outreach with the media Marcellus Shale natural gas resource play. “I’ve had this other really interesting experience where I used to own land in Pennsylvania,” she told us. “It was actually leased to Chesapeake Energy when they started exploring and producing up in Pennsylvania during the Shale Revolution, and in the Marcellus. So, I’ve seen it from that perspective as well, and saw how impactful the industry can be in small towns and farming communities in a place like Northeast Pennsylvania, where it has allowed family farmers to keep their farms and has revitalized these small towns.” It is notable, of course, that Bradbury is the first woman to head-up AXPC, and one of a handful of women who have led any of the industry’s DC-based trade associations. It is a distinction that is not lost on her, but one with which she has a great deal of personal comfort. “I have two awesome boys aged 12 and 14,” she told us. “I also have three brothers and one sister, so I feel very comfortable having been surrounded by boys in my life. Funny, because I’ve always worked in industries where usually I always seem to be surrounded by men. So, I’m very comfortable with males because of my upbringing.” While only one of her board members is a woman, Bradbury also notes that the general trend towards a

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“But to meet additional global growth and global demand we need more LNG export facilities, and then we need more pipeline capacity to be able to get it from places like Appalachia or the Permian to the export facilities, so we need pipelines to support all of that as well.” 22

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higher level of diversity is happening across the entire industry. “Here at AXPC we’re 80% women at our association, and you see more and more women throughout the industry, and certainly in senior roles.” Indeed, as part of the expansion of the AXPC scope and public visibility, Bradbury has been able to expand the association’s staff for the first time in its history. The staff includes Vice President of Communications Liz Bowman, who previously served as Communications Director for U.S. Senator Joni Ernst (R-IA), and as the Associate Administrator for Public Affairs at the U.S. Environmental Protection Agency; Vice President of Regulatory Policy Wendy Kirchoff, an industry veteran with prior roles at Noble Energy and Chevron, among others; Vice President for Government Affairs Troy Lyons, who previously served as the Associate Administrator for the Office of Congressional and Intergovernmental Relations at the U.S. Environmental Protection Agency; and Manager of Operations Carolyn Quinn, who joined AXPC from No Labels, where she worked directly for the founder and CEO on special projects to advance the organization’s mission to promote bipartisanship in Congress and across the country. These are all welcome changes for a prominent segment of the industry that wants to raise its profile with policymakers and the public.

“THE MIXED MESSAGES FROM THIS ADMINISTRATION ARE FRUSTRATING.” One central question Bradbury is frequently asked about has to do with the motivations behind the AXPC board’s decision to expand the association’s mission and raise its voice in the public debate. When we became the latest to pose the question to her, Bradbury said, “Yeah, that’s a great question. I think my members saw all the great progress they’ve made for the industry, and this country, over the last 10-15 years. And there was a feeling that, from a Washington perspective, the industry was being vilified,” she said. “They wanted to have a voice that was distinct in the energy narrative because the large upstream producers have this unique story to

It is notable, of course, that Bradbury is the first woman to head-up AXPC, and one of a handful of women who have led any of the industry’s DC-based trade associations tell about the strong, critical role they play in the world of energy production. And so, I think that they wanted to make sure that that narrative was better understood, and better appreciated. Hopefully, to some extent, that will translate into better legislative and regulatory policies coming out of Washington.” But the highly-ideological bias of the Biden administration and the Democratic majorities in both houses of congress have made achieving that outcome a very tough nut to crack. As of this writing, we are 16 months into the Biden administration, and it still has not conducted a single successful federal lease sale. Despite court orders to resume the traditional lease sale processes required by federal statute, Biden and his Interior Secretary, Deb Haaland (a lifelong anti-oil and gas activist) continue to offer excuses for their ongoing delaying tactics. We asked Bradbury if AXPC expects this administration to ever actually conduct a successful lease sale. Her answer was a thoughtful one. “You know, the mixed messages we’re getting from the administration on this are quite frustrating,” she began. “I think it’s important to contrast this with the Obama administration which obviously was not always the most friendly to this industry, either. But at this point

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SHALE MAGAZINE  JULY/AUGUST 2022

“I think it’s important to contrast this with the Obama administration which obviously was not always the most friendly to this industry, either. But at this point in the first Obama administration, they had held almost 50 onshore lease sales. This administration has held zero.”

in the first Obama administration, they had held almost 50 onshore lease sales. This administration has held zero.” Noting a recent announcement by Secretary Haaland of a planned, if limited, renewal of the leasing program, Bradbury said “When they announced they will resume an onshore lease sale, they did it with 80% less land, a 50% increase in royalty rate, and enhanced environmental analysis required. So, in particular, the 80% reduced land available for leasing in conjunction with the royalty rate increase is very concerning. Because American energy has never been more important and we’re going to need energy leadership not just today, but for decades to come. About 10% of our total domestic production is federal onshore, so when you're choking off the pipeline of that production, it not only has implications for today’s energy realities, but it’s certainly putting us at a disadvantage for years to come.” Earlier during the week our interview was conducted, the President appeared to admit that high prices for fossil fuels are a part of the energy transition, a part of his Green New Deal energy policies. We asked Bradbury if she believes that is the case, that there is an intention on the part of the pushers of renewable energy to artificially increase the prices for fossil fuels as a part of that strategy? “You know, whether it’s intentional or not, it is clearly the result of policies that are intended to ramp down fossil fuels before there is an acceptable replacement,” she answered. “The inevitable results of that, which any economist, or frankly my kids, could probably figure out, is that that is going to result in increased prices. Whether that is by design or not, it is not hard to figure out that if you're trying to phase out fossil fuels, which is roughly 80% of what we use to power the world, and if you don’t have sufficient infrastructure or capacity to replace them, you are creating a scarcity situation.” She paused before continuing. “I hope that’s not an intentional part of the plan. I know this administration certainly has a lot of concerns about high energy prices, but I think the lack of a coherent energy policy and climate policy that reflects these realities, is certainly a consequence of that policy.” The anti-oil and gas policies promoted by the Biden administration don’t just impact the upstream part of the industry directly through restrictions in leasing and permitting. Bradbury noted that the Federal Energy Regulatory Commission’s (FERC) ongoing efforts to hold up major pipeline projects also have negative impacts on producers. “We see this acutely in the Northeast, where Maine and Massachusetts are importing LNG from overseas, and paying international prices because they don’t have the pipeline capacity to bring affordable natural gas from the Marcellus region just a couple of hundred miles away,” she said. “So, that is a very real-world example of what happens when you don’t have adequate infrastructure. Prices go up, emissions go up in what is certainly not an environmentally friendly way to keep people warm in the winter, and it hurts those who can least afford it. “FERC is certainly a problem with the rules and regulations that they are working on implementing to make it harder to build pipelines. Litigation is also a huge problem

One central question Bradbury is frequently asked about has to do with the motivations behind the AXPC board’s decision to expand the association’s mission and raise its voice in the public debate

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across the country because environmental groups have taken to litigation to try to block pipelines, and they’ve done it quite successfully. We’ve seen it with the Mountain Valley Pipeline and Atlantic Coast Pipeline, which is hampering the ability to get products where they are needed most. And the irony is, that many times this natural gas would be displacing higher emitting fuels. Not only would it be more affordable for consumers, but it would also be better for the environment. So, lack of pipeline capacity is a huge and growing problem. We noted that this all has international implications because President Biden made his commitment in March that the U.S. would provide more LNG to Europe, with a goal of more than doubling those exported volumes by 2030. It is a commitment the President made without first consulting a single major producer of natural gas or LNG export company, and one that would require a significant expansion of energy infrastructure, all of which would have to be permitted by federal agencies. Bradbury acknowledged the challenges this presents. “Right now, we are exporting LNG at capacity around the world — certainly to Europe, but all over the world where it’s very much needed,” she said. “But to meet additional global growth and global demand we need more LNG export facilities, and then we need more pipeline capacity to be able to get it from places like Appalachia or the Permian to the export facilities, so we need pipelines to support all of that as well.” Another issue was also coming to a head at the time we conducted our interview. Democrats in the U.S. Senate were in the process of marking up a bill to address specious and unsupported accusations of “price gouging” on the part of the industry. Noting that we see these allegations leveled at the industry by Democrats in Washington every time prices go up, we asked Bradbury AXPC’s position on the matter. “The FTC has looked at this probably half a dozen times, maybe more, and they have never found any evidence of price gouging,” she began. “That is partly because prices are set by supply and demand and this is a global commodity, so gasoline prices are tied to crude, crude is tied to the global marketplace, and the only way or the primary way to affect gas prices is to affect supply or demand. So, we saw prices go down over the last decade because of the incredible supply brought about by the American Shale Revolution, and we also saw prices go down when demand plummeted during the COVID pandemic. “Now, we have demand continuing to go up, you have supply continuing to go up, but not quite at the same pace, and you have policy discouraging more supply. It’s not a hard formula to figure out what policies are going to reduce gasoline prices: It’s how do you increase supply in the global marketplace? And we think it’s really important that the government work collaboratively with the U.S. industry to try to make that happen. Unfortunately, we’re seeing political finger-pointing instead.” Despite all the anti-oil and gas policy proposals coming from the administration and most congressional Democrats, Bradbury was happy to point to one pro-energy stalwart in the Senate: West Virginia Senator Joe Manchin.

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“Litigation is also a huge problem across the country because environmental groups have taken to litigation to try to block pipelines, and they’ve done it quite successfully.” “When we talk about having democrat energy advocates in Congress, the industry is very fortunate that Joe Manchin is the chair of the Senate Energy Committee,” she said. “Senator Manchin just gets it more than anybody does. He understands the importance of made-inAmerica energy. So, he is certainly a critical voice to have at this table.” On the subject of Senator Manchin, we brought up current rumors that he has been holding discussions with Senate Majority Leader Chuck Schumer (D-NY) about legislation to revive some energy and tax provisions that were contained in last year’s failed Build Back Better bill. We asked Bradbury her views on the prospects of that or other significant energy-related legislation making its way out of Congress this year. “There could be a slimmed-down version of a reconciliation bill that contains some energy tax credits. Right now, it feels like that’s a long shot, but there’s still discussions of it,” she said. “Then there are also discussions around a bipartisan energy bill which I also would put in the category of being a long shot as of today. But I do think that it’s important that members of both parties are talking about areas of common ground.” She continued: “The renewables industries are going to need permitting reform to get the grid built out in a way that will support the electrification that is the objective of a lot of environmental groups. So, if you're doing permitting reform, there’s some permitting reform that could be done that would benefit the oil and gas industry as well. LNG exports are an area where there’s a lot of common ground around right now, and crude exports as well. American energy is such a critical component of helping Europe and the world combat Russia right now. So, I do think there are

some narrow areas of agreement, and whether it happens this year, next year, or the year after, you can see the contours of where a potential deal might be.”

SAVING TIME FOR FAMILY AND COMMUNITY As the mother of two boys, Bradbury must carve out time to enjoy her personal life in the midst of what is undoubtedly an incredibly hectic professional schedule. “I hang out with my kids as much as I can,” she said. “I also like to exercise more for the mental health benefits than anything else, and I do love to travel when I can.” She then turned to her seat on board of an organization called the Eluna Foundation (elunanetwork.org). “It’s a neat organization. Its’ mission is to support kids in crisis, and it does that in two very specific types of camps that they run for kids,” she told us. “One is for kids who are grieving the loss of a loved one — a sibling or a parent. These kids often feel very alone in that. Eluna’s program gets them together with other kids and lets them engage in fun activities together. It allows them to try to process their grief in a setting that lets them realize they're not alone. “The other type of camp that Eluna runs is called Camp Mariposa, and that’s for kids who have experienced addiction in the family. This is so important because obviously, these kids are at really high risk of also going into substance abuse themselves. These camps are designed to try to break the cycle and provide support. This is more of an ongoing camp for kids who may have an older sibling or a parent who has experienced substance abuse to provide support and alternative programming, to try to help prevent these kids from abusing substances themselves. “It’s a neat program. There’s a lot of help out there, as there should be, for the substance abusers themselves, but not a lot necessary for the family members to try to prevent more from going down that path. It’s a neat organization and I love being a part of it.” In closing our interview, we asked Bradbury if there was a closing message she would like to send to someone coming out of college and considering a career in the oil and gas industry right now, what would she tell them about the industry and whether it’s a good place to spend a career right now? “Oh, I would love to have that conversation,” she beamed. “First, I would talk about the great pride my companies take in the technology and innovation that they are investing in to reduce emissions and produce under an ever-lower emissions footprint and how committed industry is to that across the board. I would also talk about the incredible amount of good that energy does around the world. And how we’ve provided energy for Americans, and how energy exports are literally lifting people around

Bradbury knows from years of personal experience on Capitol Hill how crucial it is not just for oil and gas, but for any business sector to enjoy bipartisan goodwill the world out of poverty. For all of those reasons I think it is an industry that a young person should be really proud to work in.” One of the most rewarding aspects of being involved with SHALE Magazine over the years is that, when you have the opportunity to talk with the leaders in this great industry regularly, you gain a full understanding of the crucial roles they play, not just in delivering the energy resources that are so important for the maintenance of our modern way of life, but in investing their personal time to perform good works in the communities they serve. Anne Bradbury is one of these people. She has a big job that consumes an inordinate amount of her time, talent and energy, but like so many of her peers, she never forgets the importance of saving time for her family and giving back to her community.

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INDUSTRY

From Oil to Eternity UNLEASH THOSE RENEWABLES

ast Oct, Rystad Energy warned that inflation could freeze as much as half of the planned global solar power capacity additions this year. In Sept of last year, the Wall Street Journal’s Rochelle Toplensky wrote that wind power companies are suffering the lingering supply chain effects of the pandemic. When Rystad Energy was making its forecasts, the biggest problem was broken supply chains, and delivery delays because of the pandemic. Now, there’s an energy crisis, and a U.S. federal investigation into imported solar panels that, according to the local solar industry, could cost it some 1 GW in planned capacity. When the WSJ’s Toplensky was discussing the pandemicrelated troubles of the wind power industry, the big players in that industry had not yet started warning on profits, due to the wind drought that hit Europe last year. Wood Mac analyst Rory McCarthy hadn’t yet told Reuters that “If we had high winds or just reasonable winds over that period, we wouldn’t have seen these price spikes.” The IEA, however, must have known about this. It must have heard about the cost inflation in both wind and solar, and it must have heard the complaints industry players have been making for months now. Inflation has been eating into their margins, and compromising the competitiveness of their products. And yet, the IEA is happily predicting record renewable power additions globally this year. In fact, IEA praised the record wind and solar capacity additions

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made last year, saying in its latest Renewable Energy Market Update that “New capacity for generating electricity from solar, wind and other renewables increased to a record level worldwide in 2021, and will grow further this year as governments increasingly seek to take advantage of renewables’ energy security and climate benefits.” One might pause here and wonder briefly what energy security the IEA is talking about if Europe has been scrambling to secure enough fossil fuels since last Sept. Despite its record-high or near-record-high wind and solar capacity. “Energy market developments in recent months – especially in Europe – have proven once again the essential role of renewables in improving energy security, in addition to their well-established effectiveness at reducing emissions,” said IEA’s Fatih Birol in comments on the cheerful forecast. “Cutting red tape, accelerating permitting, and providing the right incentives for faster deployment of renewables are some of the most important actions governments can take to address today’s energy security and market challenges, while keeping alive the possibility of reaching our international climate goals.” The wind and solar industries are complaining about red tape. So is the oil and gas industry, or those few from it, who dare complain about anything in this Anti-Oil Age. It’s true that accelerated permitting will spur faster capacity additions. It is also obviously true that “the right incentives,” which could

only mean one thing — subsidies will motivate businesses to build more wind and solar farms. But what will we do on overcast days and when the wind takes a break? What will we do then if even renewables champion California has to keep its gas power plants on for after the sun sets? These are questions I and many others have been asking for years,

and the answer is typically “energy storage” or backup generation. I imagine, in a renewable-ambitious world, this would be wind as a backup for solar, and maybe solar as a backup for wind, because — remember the energy security profile of renewables. It will be important to note this profile, as promoted by the IEA and others right now, when

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By: Irina Slav

energy security has temporarily displaced carbon emissions from the number-one spot in the political agenda of Our Biggest Problems Ever. The security of local electricity generation, as represented by wind and solar is, I’ve always said, the biggest argument in their favor. This security is neither absolute nor very reliable. Yet, the lack of

we currently find ourselves in is not to abandon the energy transition but to double down,” the head of climate solutions at the UK’s Legal & General, Nick Stansbury, told the Financial Times this week. “We need to get the lowest cost energy with the lowest possible carbon intensity.” This, of course, sounds wonderful, and it would have been

reliability is not a problem at all. Because there seems to be a lot of money to be made from the energy transition. It is not only the IEA and the European Commission that are calling for more renewables as fast as possible. Institutional investors are doing the same. “The way out of the situation

wonderful were it possible but, alas, there is serious doubt this is the case. One could reasonably argue that wind and solar are still cheaper than gas, at least in Europe,and on the spot market. But just how long will they remain cheaper? Once the massive buildout starts, or when all that annoying red tape is cut, permits

are accelerated and “the right incentives” are put in place? Reuters reported earlier this month that the wind power industry is struggling with profits, because of a change in the subsidies they get from governments — a change aimed at encouraging lower wind power prices, by the way — and because of increasingly intense competition. “The competition is rather fierce and, in the past, there was an element where people wanted to gain market share at the expense of profitability too often,” the chief executive of Siemens Gamesa (the same Siemens Gamesa that was just taken private by its parent) said. “What I’m seeing is a colossal market failure,” said Ben Backwell, chief executive of the Global Wind Energy Council, as quoted by Bloomberg in April. “The risk is we’re not on track for net-zero [emissions] — and the other risk is the supply chain contracts, instead of expanding.” Interestingly, there seems to be little news about solar industry profits as a whole, and the latest company-by-company information is mixed. This could mean that solar is in a stronger position than wind and, at least in Europe, this seems to be the case. After all, the EU has vowed to make solar “the kingpin” of its move away from Russian oil and gas. On a general basis, solar farms appear to be reasonably profitable, depending, of course, on location, actual output, and raw material costs as well. However, if we are talking about foreign dependencies, solar is far from perfect, even for Europe, because while it has some 22.1GW of polysilicon production capacity, solar wafer production capacity was just 1.25GW as of end-2020.

Also, the EU had a substantial trade deficit when it came to solar modules: 2020 imports totaled 8 billion euros versus exports of just 1.8 billion euros, according to Eurostat, which reported the figures last December. Most of the imported modules came from China. Reducing this dependency is not happening any time soon because of the uncomfortable truth about energy costs, which for many reasons are lower in China and more likely than not to remain so, not least because of the sanction regime the EU has happily embraced in its relations with Russia. The above facts seem to compromise the “energy security” narrative about renewables that the IEA and some institutional investors are so enthusiastic about. The wind industry’s troubles with profitability are also a cause for concern. Energy storage, which is going to be crucial for the energy transition, is a whole other can of worms and those are some expensive worms. Yet all this is being swept under the rug in what is more than figuratively looking like a crusade on the current global energy system — a crusade that, according to some of its proponents, will make a lot of money for the knights taking part in it. If it doesn’t make them money, at least it will make them feel responsible and change-making, or, as the director of the UK’s Centre for Greening Finance and Investment put it to the FT, financial institutions that want to take part in the transition, must “think about what they want to change in the world and come up with a strategy to realize that change. We’re scratching the surface of the ability of responsible investors to make a difference.”

About the author: Irina Slav has been writing about energy, with a focus on the oil and gas industry, since 2006. Her articles have appeared in Oilprice, Fortune, Insider, and Time magazine, among others.

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INDUSTRY

Energy Crisis is an Opportunity for U.S. Leadership

he United States and the world are experiencing an energy crisis. AAA reports that the national average for a gallon of gasoline is over $4.61, pushing record inflationary pressures on groceries and daily costs even higher. News from Arkansas, California, Illinois, and Michigan report the possibility of electricity interruptions with brownouts and blackouts this summer. Overseas, Europe and Asia face short supplies of natural gas, diesel, and other refined products necessary to supply the inputs critical for agriculture, medicine and modern materials. War in eastern Europe has exacerbated the problems, but they are not the sole cause of them. The energy crisis is fundamentally a supply problem. Artificial political constraints are undermining growth and investment in oil and natural gas resources in the United States, while real physical constraints are limiting demand from being met efficiently. This imbalance harms everyone, but is more devastating to the lower class. At the start of the latest Ukraine invasion by Russian forces in February 2022, U.S. Energy Secretary Jennifer Granholm implored to oil executives at the CERAWeek by S&P Global conference that, “we are on a war footing. We need oil and gas production to rise.” The contrast between the Biden Administration’s rhetorical aims and their policy actions have been stark. The administration has limited federal leasing, unleashing a “whole of government” approach to constraining domestic oil and natural gas production. They have consistently berated companies to provide both low-cost energy and eliminate necessary production assets in favor of costly government-sponsored alternatives. There have been few bright spots. Recognizing energy security as a higher priority, the Biden Administration made new commitments to the European Union to supply them with liquified natural gas (LNG), and approved two new export terminals from the Gulf Coast to help fill those orders. Similarly, recognizing the importance of low-cost energy to the American public, President Biden made the decision to

SHALE MAGAZINE  JULY/AUGUST 2022

draw down an unprecedented level from the Strategic Petroleum Reserve in an attempt to stall a climb to even higher prices. While these steps are positive for Americans and our allies’ energy security and well-being, they are entirely temporary, and will not fix the fundamentals of demand growing faster than supplies. Diesel prices have jumped 56 percent, more than two dollars a gallon since January, and are rising faster as inventories of the fuel stored at commercial tank farms have plummeted. This is particularly challenging in the Northeast U.S. There, pipelines are limited, which is leading to supply shortages. While gasoline stockpiles are slightly below normal seasonal levels for this part of the summer, diesel is significantly lower as demand soars, and refineries struggle to produce enough to keep up. Demand is exceeding supply, leading to soaring prices which typically attracts more investment to ramp up production activity. That is the case in Texas, where oil and gas

Reducing global emissions starts with prioritizing domestic energy production, which is also where consumers can rely on fair labor standards rather than outsourcing heavy mining or assembly to countries that rely on child and forced labor to meet their supply chains

producers will set new overall production records in 2022, surpassing the previous records set in 2019. Unfortunately, supply chain issues, coupled with federal policy uncertainty, have limited the rest of the country getting back up to full production at pre-COVID levels. Policies that shrink domestic oil and natural gas production do not transition the U.S. to demand alternatives. Instead, they will make us more heavily reliant on overseas production to balance global markets, and meet our own demands for heavier crude supplies to match our refineries. This seems counter to priorities on the environment, not only in terms of climate, but also clean air and water, advancement of labor rights, and economic well-being. U.S. oil production leads the world thanks to technology, innovative production techniques and robust private property rights. Despite what those who want to “Keep-ItIn-The-Ground” proclaim, importing more of our energy from countries with lower environmental standards results in higher rates of emissions. The reason is twofold. First, the United States produces oil and gas more efficiently — keeping methane and CO2 emissions lower per barrel than other top global producers. Second, by increasing production from Russia and Venezuela, you increase emissions significantly. One analysis by the Global Energy Institute found methane emissions per barrel are 63% higher in Russia than the United States. The bottom-line is the world needs energy, the majority of which will come from fossil fuels. With global energy consumption continuing to rise, where should it be responsibly sourced from? Reducing global emissions starts with prioritizing domestic energy production, which is also where consumers can rely on fair labor standards rather than outsourcing heavy mining or assembly to countries that rely on child and forced labor to meet their supply chains. Texas producers pioneered hydraulic fracturing and horizontal drilling, which were the key technologies and techniques necessary to unlock the shale revolution. This revolution enabled the U.S. to quadruple natural gas

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By: Jason Modglin

Despite what those who want to “Keep-It-In-The-Ground” proclaim, importing more of our energy from countries with lower environmental standards results in higher rates of emissions

production over the last decade. Texas also has the most miles of pipelines and the most seaports and LNG terminals necessary to help balance global markets. Beyond good rock and good pipe, the Texas oil and natural gas workforce is robust, resilient and rapidly growing in response to the right signals from the market and Texas regulators. Those factors make responsible energy production secure, clean, and affordable. Texas is well-positioned, but so are many states like Louisiana, Montana, North Dakota, and Oklahoma who embrace the opportunity and responsibility over their natural resources for the benefit of their state residents, and their future generations. U.S. producers can continue to lead and meet the energy needs at home and abroad, but they need a partner in Washington willing to embrace low cost energy for the American consumers, jobs, investments here at home, cleaner fuels, energy security and reliability. Congress and the Administration should work

to review executive actions limiting domestic energy production. For environmental regulations, do they improve the overall environment by displacing dirtier fuels domestically, or expanding opportunities for cleaner American fuels to compete globally? On shareholder regulations, do they allow American producers to compete globally, or encourage outsourcing pollution to countries with lower environmental and labor standards? On tax policy, are they rewarding investments and jobs in the United States or punishing it? On trade policy, are we maximizing our relationships in North America with our top trading partners in Canada and Mexico, or putting Venezuela and Iran ahead of them? These are good national questions, but we should also encourage lawmakers and policy makers closer to home to embrace the vision of secure, affordable, and clean energy sourced from Texas. Lawmakers should continue to look at the state tax code to find solutions on high property taxes. State regulators,

facing continued growth in production, should work with industry groups and innovative producers to find solutions to air and water concerns with predictable regulation. Texas and the United States have a role to play in meeting the world’s growing energy demands. The energy crisis has been made worse by artificial political constraints that undermine growth and investment in oil and natural gas resources in the United States. It has led to higher prices and a growing dependency on overseas to map our future. Voters will weigh in soon to give Congress direction on the path Americans are looking for.

About the author: Jason Modglin serves as the President of the Texas Alliance of Energy Producers.

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INDUSTRY

The Great Green Reset Scam By: Tom Shepstone

f you want to understand what’s happening in the world, and specifically, the world of energy, one needs only to watch what elites do as opposed to what they say. By this, I’m not talking about their hypocrisy. We do far too much of that, which accomplishes precisely nothing. This is because elites are proud of their hypocrisy; it demonstrates they are so important as to be above the rules. Focusing on it simply throws us off the real scent, which is one of implicit corruption. It is endemic throughout the world’s ruling class, and that’s what we need to understand and defeat if we want the benefits of shale gas to be fully enjoyed. There is a fascinating example of what I’m talking about. It is a report from a foreign group called Reclaim Finance. It is all about what big banks are doing, as opposed to what they’re saying about global warming. It is the work of extremists who say this is their mission:

Our team, directed by Goldman prize winner Lucie Pinson, has backgrounds in a variety of sectors – such as finance, public administration, non-profits and law – and is united by our desire for a financial system working for people and the planet. Headquartered in Paris, we have employees around the world from London to California. Our staff team is supported by an experienced Board of Directors, who have together spent more than 60 years working in NGOs on environmental and climate finance issues. Notice the emphasis on “climate finance.” While the goal is conveyed superficially as one of denying capital for exploration and development of shale gas and other fossil fuels, there is already the implicit intention to finance “green energy” replacements. That is to say, Reclaim Finance is part of the plan for someone — namely elites — to rob trillions in green rent from ratepayers and taxpayers, using big banks to finance the thievery for big returns themselves.

SHALE MAGAZINE  JULY/AUGUST 2022

Who is paying for this? The answer, as usual, is behind several doors. Reclaim Finance, and the report itself, was financed by private foundations, including one called the Sunrise Foundation. A quick visit to its website and its annual reports shows it is, in turn, funded by a third NGO called the Oak Foundation. It has funded, in a big way, organizations such as Rockefeller Philanthropies, 350.org (another Rockefeller outfit), the Duke University Nicholas School (producer of anti-fracking junk science), the NRDC (more Rockefeller), the Energy Foundation (majorly funded by solar investor Nat Simons) and Tides (Teresa Heinz Kerry’s non-profit political money laundering operation). Every one of these is anti-fracking. But, that’s not the most important thing here. These two items from Influence Watch‘s report are what are really significant: • In 2018, Oak gave $1 million to ClimateWorks Foundation “to support the greening of the Belt and Road Initiative,” a global trade infrastructure project pushed by Chinese leader Xi

Jinping to link the communist country with the rest of Eurasia. Oak Foundation has also given grants to the World Wide Fund for Nature (WWF) and Global Environmental Institute in support of Belt and Road-related activities. • British-born businessman Alan M. Parker, currently living in Geneva, Switzerland with an estimated net worth of about $2 billion, is the founder and main funder of the Oak Foundation. He was an accountant and key early partner of the Hong Kong-based firm Duty Free Shoppers (today DFS Group) which retails luxury goods in major airports and resorts worldwide. Parker eventually became the CFO of the DFS Group as well as its third-largest shareholder. The Oak Foundation, in other words, has been closely allied with the Chinese Communist Party and Parker is a big-time investor. He is, in fact, the big guy behind the Brunswick Group, which has a very specific agenda. Consider these excerpts from his writing, which emphasizes “evolving ESG metrics.”

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Reclaim Finance was founded in March 2020 with one simple mission: making finance work for the climate. Since then, we have grown from strength to strength, expanding our team as we strive to shift the world’s largest financial institutions away from fossil fuels…

As a revolution it is interesting because it is not just bottom-up; there are pitchforks in the hands of the aristocrats as well…

not just on their market dominance but their role in being the guardians of the internet, a role the regulators feel that they should play. In the same way, we are seeing increasing legislation on producer responsibilities, so self-regulation and [the] neo-liberal views of Friedrich Hayek are clearly on the wane. So business is now also seeing the arc of popular

inspiring examples of creativity and positive action. We are seeing that business, at its best, is one of the greatest forces for progress on the planet. But we have to be at our best to meet today’s challenges. In many cases, this means urgent action. The call for climate action is no longer about setting out plans for 2030, it is about what can you do by 2030.

The focus is naturally turning to the people who are seen to have vast resources and great competence to deliver…

sentiment playing out in the increasing activism of its staff, its regulators and the whole raft of its stakeholders.

Much of this shift has started quite recently but already Milton Friedman’s free enterprise philosophy looks quite outdated in a world of cataclysmic climate change…

So the call has moved beyond individual company change, to addressing broader issues in society and, in many cases, systemic change. The actions of many leading companies are showing what is possible.

It is an absolutely amazing essay on corporatism and globalism by someone who plainly rejects the laws of economics in favor of political control by big banks and other rich elites; in other words himself. He’s a wannabe emperor who, from the perch of big business, wants to control the state and, with it, all of us. He wants a merger of big business and the state. He’s the Great Reset personified, another Klaus Schwab or Bill Gates if you will. He wants to rule with China’s Xi at his side, both hoping to exploit the other until the tragic divorce takes place. Better that we understand and defeat both now.

Politicians are seen not to have delivered solutions on climate change or the environment…

There seems no doubt that the new order of stakeholder capitalism is here to stay. This plays out in very different ways in different parts of the world. European capitalism is still different from the UK, American or Asian capitalism, and now the new Chinese capitalism is a major factor in all our lives. All of which now have to be factored in, and all of which keep moving. In several markets, we are already seeing a response to the scale of business and its social influence. In the tech sector, the politicians and regulators are challenging the major platforms,

Businesses have visibly risen to many challenges; through the pandemic, we have seen how agile and effective corporate engagement can be. It has responded on many fronts with

About the author: Tom Shepstone is the owner of Shepstone Management Company Inc., a planning and research consulting firm located in northeastern Pennsylvania. He has advised many counties in both New York state and Pennsylvania, as well as other states, on economic development strategies, especially as they relate to rural and agricultural areas. He is also the publisher of NaturalGasNOW.org, a blog focused on the same objective.

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SHALE MAGAZINE  JULY/AUGUST 2022

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POLICY

Biden’s Continued Assault On Oil And Natural Gas

n Thursday, Feb. 10, President Joe Biden promised to “work like the devil” to lower gas prices. However, from day one this administration has ignored the root causes of high oil prices. Instead, they have done everything in their power to limit supply by erecting barriers to new production of oil and natural gas in the United States. At the American Energy Alliance, we have documented 100 actions the Biden Administration and Congressional Democrats have taken since the inauguration that make it more

difficult to produce oil and natural gas in the United States. Some of those actions, like the cancellation of the Keystone pipeline and the temporary ban on all new oil and gas leases on federal lands, have dominated energy headlines over the past year. However, not enough attention has been paid to the “whole of government approach” this administration has taken to limit new production of oil and natural gas. A subtle example of this approach can be found in the candidates that the Biden Administration has chosen to nominate to key positions within the federal bureaucracy. Po-

At the American Energy Alliance, we have documented 100 actions the Biden Administration and Congressional Democrats have taken since the inauguration that make it more difficult to produce oil and natural gas in the United States

SHALE MAGAZINE  JULY/AUGUST 2022

sitions that most people typically don’t associate with energy and environmental policy. On Nov. 15, 2021, the Biden Administration nominated Saule Omarova to serve as Comptroller of the Currency. Omarova’s past comments speak for themselves: “A lot of the smaller players in [the fossil fuel] industry are going to, probably, go bankrupt in short order—at least, we want them to go bankrupt if we want to tackle climate change.” Another example was the nomination of Sarah Raskin to serve as Vice Chair of the Federal Reserve. Raskin was explicitly nominated

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By: Alex Stevens

because of her belief that the Federal Reserve’s policies should be guided by environmental factors, which is a big departure from the Federal Reserve’s traditional dual mandate to maintain full employment and to keep prices stable. In both of these cases, the nominations were withdrawn as the candidates were deemed too radical as their nominations gained bipartisan opposition. Although these nominations were ultimately unsuccessful, they served an important purpose in that they signaled the eagerness of the administration to expand the scale and scope of regulation so that every arm of government is involved in regulating the industry in the name of climate change. While the Biden Administration has sought to blame the increase in gas prices solely on the Russian invasion of Ukraine, gasoline prices were already averaging over $3.50 a gallon before the war even started. From December 2020 through March 2022, U.S. monthly average unleaded regular gasoline prices doubled. In response to the invasion of Ukraine, instead of acknowledging the root causes of higher prices, the Biden Administration, and Democrats more generally, have

offered up a bevy of non-solutions, as well as policies that would be outright destructive to oil and gas markets. One thing that’s striking about the administration’s hostile approach to oil and natural gas is that they have not backed off their attack since the invasion of Ukraine. Since the invasion on Feb. 24, many people close to the administration have continued to signal their commitment to hindering the supply of oil and natural gas through their public pronouncements. On April 15, a few months after banning new permitting on federal lands, the Biden Administration finally announced 144,000 acres of the federal mineral estate opened for oil and gas leasing — just 0.00589 percent of the 2.46 billion acres the American people own. But, even with that small nod that something should be done to increase supply, the White House’s messages remained the same. They choose once again to signal that the administration does not approve of new oil and gas development. White House Press Secretary Jen Psaki said, “Today’s action…was the result of a court injunction that we continue to appeal, and it’s not in line with the president’s policy, which is to ban additional leasing.” Just a few days later, U.S. Climate Envoy John Kerry said the world’s reliance on natural gas should be limited to a decade. He said, “We have to put the industry on notice: You’ve got six years, eight years, no more than ten years or so, within which you’ve got to come up with a means by which you’re going to capture, and if you’re not capturing, then we have to deploy alternative sources of energy.” Repeated statements like this from administration officials tell investors not to sponsor energy investments in the U.S., since it implies the use of those energy sources will be approved by the government. In addition to these public statements, since the invasion, the administration has taken several other key actions that haven’t made headlines, all of which will constrain new oil and natural gas development. On March 11, the administration introduced new natural gas infrastructure reviews. This is an interim regulation that will increase the regulatory burden on natural gas facilities by, among other things, requiring climate change impacts be considered when determining whether a project is in the public interest. Then, on March 21, the SEC announced a proposed rule that would require public companies to disclose greenhouse gas emissions, and their exposure to climate change. This rule would massively increase costs of regulatory compliance. It’s the type of regulation that specifically harms smaller companies that don’t have teams of lawyers and compliance officers ready to handle the regulatory burden.

On April 15, The Interior Department reversed a Trump Administration decision which limited the scope of “compensatory mitigation” the Department could force upon projects on federal land as a condition of receiving a permit. This will hit energy and mining projects especially hard. Under the new guidance, opponents in the federal government could require mitigation located far from the project with little relevance, effectively giving bureaucrats a blank check to request whatever they wish of a permit seeker with little controls. On April 19, the Biden Administration completed reforms on how agencies implement the National Environmental Policy Act, effectively undoing one of the Trump administration’s most important environmental regulatory rollbacks. This opens the door for officials to cook up whatever justification they desire to impede energy development under the guise of NEPA. And on April 25, the Biden Administration released a management plan for the National Petroleum Reserve Alaska. The final decision reverses a Trump-era plan that had opened most of the reserve to oil and gas leasing and withdraws some of the most prospective oil and gas areas from consideration. If the administration’s actions weren’t harmful enough, since the invasion, Democrats in Congress have been cooking up new schemes that would cripple oil and gas markets. Most notably, the House passed HR. 7688. Dubbed the “Consumer Fuel Price Gouging Prevention Act,” it would give the President vast powers to set price controls by executive fiat. Price controls on fuel don’t work, and our experience during the gas lines of the 1970s should remind us that they will lead to shortages. In polling commissioned for former Vice President Mike Pence’s political nonprofit group, 25 percent of registered voters in four battleground House districts cited “inflation and rising gas prices” as the issues they are most concerned about. Another 12 percent said their top priority was the “economy and jobs.” It’s clear, that despite the rhetoric coming out of the White House, the Biden Administration is not concerned with these issues as they have done everything in their power to limit the development of American oil and natural gas. Alex Stevens is a Manager of Policy and Communications at the Institute for Energy Research. About the author: Alex Stevens is a Manager of Policy and Communications at the Institute for Energy Research.

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POLICY

Policy Decisions by Dim Bulbs Leave The U.S. Power Grid Short of Capacity By: David Blackmon

The area, along with large parts of Michigan, Wisconsin, Minnesota and other states linked to the regional grid, has been put on notice in the forecast that it is facing a “high risk of energy emergencies during peak summer conditions.” A major reason is that some of the coal plants that regulators assumed would keep running for another year or two are instead coming offline. Some plant operators are choosing to shut down rather than invest in upgrades for coal plants that do not fit with states’ and the federal government’s long-term goals for clean energy.

SHALE MAGAZINE  JULY/AUGUST 2022

Oh. But, climate change, right? Sure. You betcha. We are all expected to believe that the looming blackouts, caused by lack of firm dispatchable capacity, has nothing to do with governmental policies that have literally been designed to crush any new investments in additional, reliable baseload capacity fired by natural gas, coal and nuclear. It’s all because of the catch-all boogeyman of “climate change.” Mind you: This is not just the case in places like California, New York and Massachusetts, where we all expect to see crazy energy policies. This is happening across the Midwest, the Rocky Mountain states, and even in Texas. Where the grid is concerned, the only real difference between the Democrats who have led California into becoming a third-world energy basket case and the Republicans in Texas is that the Republicans in Texas are moving in the same direction at a slower pace. If the fatal blackouts in February of last year taught Texans nothing else, they should have awakened everyone to the reality of our grid’s deteriorating situation. While the legislature and Governor Greg Abbott acted to correct some of the many maladies currently impacting the grid and Texans’ energy security, they still have done nothing to encourage the building of new, reliable, 24/7 baseload generating capacity on the state’s power grid. Sure, we’ve added a bunch

of new wind and solar, but wind and solar are useless in a weather emergency, by their own admission. That became quite clear when, in one of the post-freeze legislative hearings that followed the 2021 Big Freeze, the representative for the renewables industry said that her sector had “performed as expected.” A study by Rice University’s Baker Institute showed that wind and solar were the first generation sources to drop off the grid during the freeze, which means they are expected to be useless. But that reality is not preventing Gov. Abbott and his appointees at the PUC from betting our state’s energy future on wind and solar, and not much else. This is a slow-rolling recipe for disaster, and that disaster could arrive this August if a handful of baseload plants suddenly drop offline unexpectedly, as they did a couple of days in early May. That event forced Texas grid managers at ERCOT to plead with consumers to conserve electricity during a very mild weather day in the spring. What if it happens on an August day when the entire state is seeing temperatures above 100 degrees?

No one seems to be even thinking about what this shrinking baseload capacity all over the country will mean for supposed growth in the electric vehicles industry. We will have to somehow double the generating capacity on the nation’s grids by 2035 just to accommodate the EV growth targets. That isn’t conjecture — it’s what Elon Musk said last September. Yet, we’re short of capacity in 2022, and our policymakers believe that we can do that with windmills and solar panels made in China. Nevermind that the prices for the array of critical minerals that go into making those things are skyrocketing as they come into ever-shorter supply, or that their supply chains are a mess and getting worse every day. Because, hey, China is this friendly, huggable country that would never try to use its dominance of renewable energy production and supply chains as geopolitical leverage, right? Sure. You betcha. We’ll go with that. Historians 50 years from now will be writing entire trilogies of books dedicated to detailing what a pack of short-sighted dim bulbs we have running the country in 2022.

ANDREW GARDNER/STOCK.ADOBE.COM

he Washington Post published a news story on June 2nd entitled, “A Summer of Blackouts? Wheezing power grid leaves states at risk.” Well, yes. Or, as John McClane would say, “Welcome to the party, pals.” It’s nice of the Green New Deal promoters, who staff the WaPo, to start talking about the new, under-powered reality facing the nation, after leading the cheers for 20 years of under-investment in new baseload capacity in favor of hundreds of billions in subsidies for unreliable and unpredictable wind and solar. After speaking about nebulous “climate change” impacts being the real problem here, the Post’s writers managed to wander right up to the precipice of stumbling across the real problem in this paragraph:

If the fatal blackouts in February of last year taught Texans nothing else, they should have awakened everyone to the reality of our grid’s deteriorating situation SHALEMAG.COM

POLICY

House Passes FAIR Act to Ban Pre-Dispute Arbitration Agreements By: Kellen Scott

SHALE MAGAZINE  JULY/AUGUST 2022

The goal is to ‘restore fairness to the American justice system by reasserting individuals’ right to access the court system,’ and individuals are not ‘forced into private arbitration, where the bigger party often has the advantage of choosing the arbitrator in an unappealable decision’.” employment, antitrust, consumer, and civil rights matters. For employment disputes, the Act would apply to discord surrounding the working relationship or prospective work relationship, including the terms of payment, discipline, or discharge. With a broad definition of employment and civil rights disputes, the Act would cover most employment-based claims, including discrimination, retaliation, and wage and hour disagreements, and apply to both employees and independent contractors. The Fair Act is not limited to employment disputes either. It extends to consumer disputes as well, which the Act defines as disputes involving one who seeks or acquires real or personal property, services, securities, investments, money, or credit for personal, family, or household purposes. The reach of the FAIR Act goes far beyond the types of claims addressed by the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act. Similar to the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act, the FAIR Act would invalidate clauses

that delegate resolution of certain issues to an arbitrator instead of a judge in court. Whether the FAIR Act applies to a dispute and, therefore, cancels an arbitration agreement, is to be determined by a court and not an arbitrator. It is important to note, that the new law would only apply to pre-dispute agreements. Parties would still be free to elect arbitration once disputes arise. To be sure though, most parties who agree to arbitrate disputes do so before the dissension arises—not after. Moreover, the bill would not apply to arbitration provisions in collective bargaining agreements between employers and labor unions, such as grievance and arbitration provisions in labor contracts. However, employees would be able to seek judicial enforcement of any right arising under the Constitution, a state constitution, or a federal or state statute or public policy, despite the presence of a collective agreement. While the chances of the FAIR Act passing the Senate are uncertain, employers should closely monitor related developments. If en-

W.SCOTT MCGILL/STOCK.ADOBE.COM

n March 17, 2022, the U.S. House of Representatives passed the Forced Arbitration Injustice Repeal (FAIR) Act, H.R. 963. The bill, if enacted into law, would void all pre-dispute mandatory arbitration agreements in employment, antitrust, consumer, and civil rights matters. The FAIR Act also purports to eliminate pre-dispute class and collective action waiver provisions. The bill’s sponsor has stated the goal is to “restore fairness to the American justice system by reasserting individuals’ right to access the court system,” and individuals are not “forced into private arbitration, where the bigger party often has the advantage of choosing the arbitrator in an unappealable decision.” The FAIR Act quickly follows on the heels of the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021, which President Biden signed into law on March 3, 2022. That new legislation renders unenforceable pre-dispute arbitration agreements in cases involving claims of sexual harassment or sexual assault. But, while Congress passed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act with some bipartisan support, the legislative success of the FAIR Act is less certain. In 2019, the Senate declined to pass a prior version of the FAIR Act after the House passed the bill. After the FAIR Act garnered the support of only one Republican member of the House, several industry groups, including the Society for Human Resource Management and HR Policy Association, stood in opposition to the FAIR Act. Opponents argue the bill would deprive employees, consumers, and companies of a faster, more accessible, and affordable alternative to court. They also point out the added burden on the country’s judicial system. And, while several Republican lawmakers have expressed support for overall arbitration reform, they are concerned about the sweeping scope of the proposed bill. If the FAIR Act were to pass in the Senate and be signed into law, it would nullify pre-dispute arbitration agreements and pre-dispute joint-action waivers concerning

With a broad definition of employment and civil rights disputes, the Act would cover most employment-based claims, including discrimination, retaliation, and wage and hour disagreements, and apply to both employees and independent contractors.”

acted, the bill would go into effect immediately, significantly limiting their dispute resolution options, and likely affecting countless existing contracts. Employers should also remember that the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act has taken effect, and applies to sexual harassment and assault claims arising after the Act was adopted, regardless of when the arbitration agreement was signed. Any claims pending before the law came into effect are not covered and the pre-dispute agreements remain enforceable.

About the author: Dr Alistair Davidson is Director of CBI, managing all the consortium’s work programs. Alistair attended the University of Oxford and obtained a PhD at the University of Edinburgh. He has lectured at both Washington State University, USA and the University of Chongqing, China.

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BUSINESS

Deloitte Greenhouse:

The Future of Energy at Your Fingertips CREATING YOUR BUSINESS’ FUTURE AT YOUR FINGERTIPS By: Anastasia Zoe Vastakis

SHALE MAGAZINE  JULY/AUGUST 2022

an emphasis on group breakout sessions and teamwork. From there, we were taken into The Gallery. Chronis stated that the “gallery is curated for the client to highlight the assets and solutions that are most beneficial for them”. This room brings the concept to life with the use of their advanced technologies. Within the gallery, you will five separate areas specially designed for the client: Industry Search, Risk Connect, Sustainability Solutions, The Art of the Possible, and a Virtual Reality Room. The Cafe Space is where the team not only gathers for their meals, but also where they end their day with a glass of

They create this experience by focusing on five key topic areas: the future of energy, smart operations and asset ecosystems, cyber and everything that entails, the future of work, and the experience of the connected customer

PHOTOS COURTESY OF DELOITTE

HALE Magazine was recently granted the privilege of touring Deloitte Energy’s Greenhouse, located in Houston, Texas. This 14,000-square-foot Greenhouse is a powerhouse of individualized innovative business strategy, and is able to create a bespoke experience for the client, from the Immersion Dome all the way to the guardrails on the ceiling. The Greenhouse was established in order to create an immersive experience that allows Deloitte’s clients to visualize the growth of their business. They create this experience by focusing on five key topic areas: the future of energy, smart operations and asset ecosystems, cyber and everything that entails, the future of work, and the experience of the connected customer. When first entering the Greenhouse, you step into the Antichamber. The Antichamber is used to help eliminate all prior stresses, such as Houston traffic and prepare your mind to be explorative about the potential of your business. From there, you will enter the Emersion Dome, which is a 270-degree theater. With the use of their projectors, you can enter whatever world you wish, whether that is the Singapore airport or a wind farm in West Texas. This room is the first example of the Greenhouse’s ability to craft a unique experience for the client and allow their visions to come to life. The beginning stage of planning your business’ future begins in the Breakthrough Lab. According to Amy Chronis, Deloitte’s Managing Partner, “everything within the Breakthrough Lab is designed with human centered design principles’’. Everything in the room is on wheels because Deloitte understands that flexibility is key. The room is structured to encourage collaborative thinking through

The Greenhouse was established in order to create an immersive experience to allow Deloitte’s clients to visualize the growth of their business champagne to celebrate their accomplishments and the growth of their clients. The walls feature a photo of the Houston skyline and a growing collection of skateboards. Believe it or not, they aren’t for riding. The skateboards serve as an homage to the Buffalo Bayou SkatePark. Each board contains a design that celebrates a product successfully created with their clients, and their collection is steadily increasing. While the majority of this facility is organized and cohesive, the Make A Mess Space is where you begin to bring your imagination to life. They have a collection of 3D Printers that are able to use both plastic and metal to create potential prototypes for additive properties. They also have a snack bar within this room that does more than provide a quick bite to eat. Rather, it serves as another example of the advanced technology provided at the Greenhouse. The snack bar is located beneath a camera attached to the guardrails on the ceiling. This camera is able to take pictures of missing snacks, and send notifications to the respec-

tive departments to alert them of a necessary restock, or trigger an automatic ordering process. Lastly, there is the Executive Transition Room Lab. This is the only room in the entire facility that focuses on the individual experience, rather than that of your business. Here you don’t work with teams or in a collaborative environment. This is the room that emphasizes crunch time and enables you to evaluate the different facets of your business. How long will your business plan take? Who is on your team, and how will you utilize those relationships to establish a strong foundation? What third parties will you bring in to work with you, and how will they elevate your business to another level of effectiveness in terms of ESG levels and cost efficiency? Deloitte understands that every business, while all within the field of energy, has a different mission they want to accomplish. With their advanced technology, along with their five key principles, they are able to bring those missions and visions to fruition.

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BUSINESS

What It Will Take to Bridge the E&P’s Workforce Age and Skills Gap During The Great Resignation By: Vince Dawkins

What makes the Great Resignation so complex for E&P? The E&P industry needs a particular set of skills to thrive. Generations with expertise and experience, people who know the foundations of the industry inside out, are the ones about to retire. Younger generations often have a different set of priorities and interests, and don’t necessarily spend the time to learn about these foundational elements of E&P. At the same time, the use of technology is becoming more critical for all generations of E&P workers, and younger generations bring this new depth of

SHALE MAGAZINE  JULY/AUGUST 2022

Prioritizing training and development is a good way to show the younger talent that they can imagine a future in this industry knowledge. However, they’re not always able or equipped to share that knowledge with previous generations. On top of those lost-in-translation skills, projects in the E&P industry are just very complex and challenging. The sheer range of skills needed to bring a project to completion is immense. Whether a project is a new asset or a refurbishment, contract lifecycle management, compliance, facility safety, and cost management are just a few of the arenas that new hires have to confront. How can employers attract and retain workers despite the skills gap? With the effects of the Great Resignation making themselves felt in the E&P industry, company leaders need to get proactive to attract new talent and new skills, while keeping current workers content and motivated.

1. Invest in up-to-date tech Begin speaking to younger workers, and get them fired up to join the industry. By 2030, millennials and Gen Z-ers are predicted to comprise 74 percent of the industry’s workers. The generation now entering the workforce is tech-native; tech helps them understand and navigate the world, so if your company isn’t adopting technology, these younger workers are likely to feel a little alienated or struggle to find opportunities for themselves. Research shows they prefer to use a range of tools to get their work done, from more traditional productivity tools to apps and virtual assistants. They want to choose their security measures, for example, and they’d prefer to work for a company that applies cloud software solutions to maximize organizational data.

2. Help employees learn and grow Prioritizing training and development is a good way to show the younger talent that they can imagine a future in this industry. For today’s job seekers, opportunities that offer continuous learning have an immediate competitive advantage, and for existing employees, 94 percent say they would be more likely to stay at a company that was actively invested in their learning. Learning and development opportunities don’t have to be serious or expensive commitments. Smaller gestures towards learning, like arranging mentorship conversations or offering afternoons off for training courses, show workers that the company cares about their future. Cross-training can especially be beneficial. This is where employees are equipped and encouraged to teach other team members from different departments. This type of training works because it offers new skills, learned on the job, while also strengthening the culture of mentorship and community within the team. 3. Practice more robust succession planning Leaders often leave succession planning alone because it involves having some tough conversations, and it seems like the reality

AUREMAR/STOCK.ADOBE.COM

he Great Resignation has struck all industries, leaving employers scrambling to try and fill the skill gap. For the oil and gas industry, the skills gap is even wider, because there’s also an age gap. The average age of someone working in the oil and gas workforce is 56, and over half of skilled engineering workers will be able to retire in the next ten years. The industry is facing many challenges in finding and keeping a talented, skilled workforce. In the immediate future, there will be a predicted 1.9 million oil and gas positions that will need filling, and a deficit of hundreds of thousands will remain because of the skills and age gap.

In the immediate future, there will be a predicted 1.9 million oil and gas positions that will need filling, and a deficit of hundreds of thousands will remain because of the skills and age gap of succession will always be far away. But these conversations could be an important way to come together as a team and get yourselves on the same page, along with growing some more motivation for the future. Establishing a mentorship program could be an awesome place to start with succession planning. Succession plans don’t just relate to senior executives — the whole team can benefit from planning for the future of the company, and feeling involved in it. 4. Develop a culture that Gen Z and millennials want to work for

Culture is correlated with performance when it comes to millennials and Gen Z-ers. They want to work in an environment that places company culture as a priority. Today’s workers don’t want to slot into a company; they want their personalities and their personal goals to matter, and to work amongst a group of unique people who bring their backgrounds to the work environment. Showing younger generations that you’re aware of how the world is changing, and that you are willing to evolve the way things work in the E&P industry, is

a great idea. These demographics are likely to have a vision of oil and gas that is stuck in the past; they need to see that flexibility and change are possible, and that they can be part of your organization’s growth. The Great Resignation may have hit the oil and gas industry

pretty hard, but we now have opportunities to fill the skills and age gaps that exist in our workplaces. Build a culture that bridges these gaps, and you’ll see new and existing workers get a fresh injection of energy and motivation for the challenges ahead.

About the author: Vince Dawkins, president and CEO of Enertia Software, has worked with industry-leading organizations, and he has been integral in developing the Enertia application into a resource used by over 150 leaders in the upstream oil and gas industry.

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BUSINESS

War! What Is It Good For?

HELPING YOUR BUSINESS AVOID INSURANCE COVERAGE BATTLES FOR LOSSES FLOWING FROM THE RUSSO-UKRAINIAN CONFLICT By: William Edward McMichael

Businesses should treat claims arising out of the Russo-Ukrainian Conflict with extreme care, lest they lose policy benefits to which they may be entitled 50

SHALE MAGAZINE  JULY/AUGUST 2022

from an illegitimate Western government. How should we regard losses flowing from economic sanctions imposed against Russia by nations who believe the conflict to be a “war,” but are not themselves involved in the physical fighting? What about when Ukrainian civilians fight back? What happens when an event looks like a “war,” but may not fall within its special

NATTAKORN/STOCK.ADOBE.COM

s the conflict in Ukraine rages on, media outlets continue to report Western businesses pulling out of eastern Europe. Undoubtedly, many businesses will seek insurance coverage for losses flowing from the conflict. After all, is this not what insurance is designed to cover? Sudden, unexpected events that cause significant losses? As risk managers and insurers alike review these claims, one may be tempted to dismiss attempts to obtain coverage for losses flowing from the conflict as “desperate.” Indeed, nearly all modern insurance policies include some version of a “War Exclusion,” a standard provision that excludes coverage for losses arising out of “war” or “warlike action.” However, the path to recovery may not be as bleak as one might anticipate. Businesses should treat claims arising out of the Russo-Ukrainian Conflict with extreme care, lest they lose policy benefits to which they may be entitled. The insurance industry traditionally defined “war” to mean a formal conflict between entities that bore indicia of sovereign nations. However, modern understandings of “war” are not as restrictive. For example, the United States spent two decades “at war” in the Middle East, but never was in conflict with the nations where it waged its conflict (i.e., the “War on Terror.”) Consider also that Russia’s official position in the early stages of the conflict was that it was not “at war,” but rather engaged in a targeted mission to liberate ethnic Russians

definition (of which even the most experienced underwriters or insurance agents may not be aware)? This was the exact scenario in Universal Cable Productions v. Atlantic Specialty Insurance Company. In that case, Universal made an insurance claim after relocating a television production from Israel when Hamas launched rockets into Israel, and then Israel launched a counter-attack into the Gaza Strip. The district court initially ruled for the insurer, because the “plain and

What happens when an event looks like a “war,” but may not fall within its special definition (of which even the most experienced underwriters or insurance agents may not be aware) held that Israel’s counter-attack did not affect its analysis because the insurer did not establish that Israel’s response caused Universal’s need to relocate. As such, the Court sent the case back to the district court for trial. Similarly, in the Merck & Co., Inc. v. ACE American Insurance Company case earlier this year, the New Jersey Superior Court found coverage after Merck suffered over a $1 billion loss when a Russian state-sponsored cyber-attack on Ukraine then morphed and damaged Merck’s computer systems. In that case, the insurer denied coverage, citing the War Exclusion and arguing that a state-sponsored cyber-attack was a “hostile or warlike action...by any government or sovereign power.” However, the Court disagreed with the insurer’s coverage position because the plain meaning of the phrase “hostile or warlike action” did not apply to cyber-attacks, but instead only to “actual hostilities” or things that are actually “like war.” In other words, because the Russian cyber-attack did not look like a traditional war (i.e., computer virus vs. Kalashnikovs), Merck’s insurers could not rely on the War Exclusion to bar coverage. In short, whether a loss flowing from the Russo-Ukrainian Conflict is barred from coverage requires a highly fact-intensive analysis. But until the insurance industry updates the War Exclusion to comport with modern realities of conflict among nations, there are steps your business can take to maximize recovery for potential losses flowing from the Conflict. 1. Do Your Homework. In modern times, we have the benefit of real-time reporting of facts and circumstances. We also have the benefit of electronic communication records, including records of communications among key decision-makers. One

ordinary meaning” of the term “war” applied to the conflict. However, the Ninth Circuit reversed, citing authorities affirming that the insurance industry defines “war” to mean “a course of hostility…between states or state-like entities.” The Ninth Circuit then held that Hamas was not a de jure or de facto “state” or “state-like entity,” and, therefore, could not be involved in a “war” or “warlike action.” The Ninth Circuit further

never knows what nugget of information will affect how a claim is evaluated. Policyholders should take precautions to document their claims carefully, as one tidbit may be the key to establishing coverage. 2. Beware Bad Causation Arguments. There will be an ocean of claims that cite the Russo-Ukrainian conflict as the basis for the loss. While the plain language of many “War Exclusions” bars coverage for losses that “indirectly arise” out of a conflict, nearly all states’ laws interpret “arising out of” language to mean “proximate cause.” This is particularly relevant in the War Exclusion context, as there may be losses that are the ultimate result of the war, but which the war did not directly cause (e.g., an increase in fuel prices because of the embargo on Russian oil). Policyholders should be careful to articulate the cause for their loss in a clear manner, and to anticipate insurers’ arguments as to why a loss may not be covered. 3. Hire Qualified Counsel. Few attorneys understand the nuances of complex insurance coverage work. Even fewer have handled claims that implicate the War Exclusion. Still, fewer have litigated such claims. In short, there are only a handful of attorneys in the country who are prepared to handle these claims. If you believe your interests could be affected, be sure your coverage lawyers can articulate why they are qualified to handle the claim. Alternatively, be on guard if your opposing lawyers are not aware of the nuances of this area of the law, as they may make arguments that are persuasive under ordinary circumstances, but should not apply to your case.

About the author: William Edward McMichael is a trial lawyer who maintains a nationwide practice with an emphasis on complex insurance coverage and bad faith litigation. He has successfully represented both insurance carriers and policyholders in state and federal courts in more than a dozen states across the nation, including in insurance coverage disputes implicating the War Exclusion and other governmental risks. He currently works as an Associate Attorney at Chamberlain Hrdlicka in Houston, Texas. chamberlainlaw.com/ people-william_mcmichael

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LIFESTYLE

TEXAS BUSINESS HALL OF FAME CELEBRATES 2022 BUSINESS LEGENDS By: Meredith Walker

he Texas Business Hall of Fame Foundation honors the accomplishments and contributions of outstanding business leaders in our state by celebrating and telling their stories. These stories, and the business “Legends” behind them, perpetuate the notion and ideal of the transformational business leader through their unparalleled commitment to enterprise, excellence and community. In addition to recognizing six extraordinary business leaders each year, the Texas Business Hall of Fame awards more than forty $15,000 awards to scholars and veterans who have demonstrated an early inclination for entrepreneurship and innovation, through its Future Legends Scholar & Veteran Award Program. This program is active in 24 universities throughout Texas. Both established and emerging leaders in the community are recognized at the annual Texas Business Hall of Fame Induction Dinner. John Arnold, Founder of Centaurus Capital LP, an energy-focused, family office investment fund, also

SHALE MAGAZINE  JULY/AUGUST 2022

founded Arnold Ventures, a philanthropy dedicated to investing in evidence-based solutions that maximize opportunity and minimize injustice. Arnold also serves on the boards of Breakthrough Energy Ventures, Civica, Inc. and The City Fund. Fellow Houston inductee, Ric Campo has acted as Camden’s Chief Executive Officer since 1993. He has also sat on the Board of Directors of several organizations that focus on Houston’s economic development and quality of life, like Central Houston, Inc., Greater Houston Partnership, Baker Ripley, The Coalition for the Homeless, and more. In addition to being the former owner of the Dallas Stars and Dallas Rangers, Dallas-based inductee Thomas O. Hicks is the Chairman, Founder and Partner of Hicks Holdings LLC, a family office that owns and manages real estate, corporate assets and investments, and a private equity firm. Hicks served on the Board of Regents at The University of Texas, and he was instrumental in forming and getting legislation

approval to establish UTIMCO, The University of Texas’ Investment Management Company, where he served as its first chairman. Houstonian Jeffery D. Hildebrand is the Executive Chairman and Founder of Hilcorp Energy Company, Harvest Midstream Company and JDH Capital. Active in his community, Hildebrand serves on the boards of Central Houston, Inc., the Houston Livestock Show and Rodeo, Houston Police Foundation, Rice University’s Baker Institute for Public Policy, Chairman of The University of Texas Investment Management Company and the Texas Parks and Wildlife Commission. Paul W. Hobby is a Founding Partner of Genesis Park and GP Capital. His executive roles include Columbine JDS Systems, Alpheus Communications and Texas Monthly. Hobby has served as the Chairman of the Texas Ethics Commission, the Greater Houston Partnership, the Houston Branch of the Federal Reserve Bank of Dallas and the Texas General Services Commission. Finally, Whitney Wolfe Herd is the Founder and CEO of Bumble, Inc., the parent company that operates Badoo, Fruitz, and Bumble, which are three of the world’s fastest-growing dating apps worldwide. Herd led Bumble’s IPO in 2021 as the youngest woman CEO to ever take a company public, and has repeatedly been recognized for her achievements. For example, being named in TIME Magazine’s 100 Most Influential People and Forbes “30 Under 30” list. Presented by Texas Capital Bank, the annual Induction Dinner will be hosted in Houston at Hilton Americas on November 3, 2022. The dinner is preceded by a private awards luncheon, sponsored by Deloitte, for the Hall of Fame’s 2022 Scholar & Veteran Award recipients.

PHOTOS PROVIDED BY ALANNA MULLINS/PRBOUTIQUE

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LIFESTYLE

AN ART-FULL APPROACH TO LEARNING By: Melanie Schwebke, Curator of Education at the Briscoe Western Art Museum

he words “art museum” tend to bring to mind a sterile environment where you can hear a pin drop. And certainly not a place for children to roam, explore and get their hands dirty. But the days of museums being someplace where children are shushed, and kept at arm’s length, are long gone. Museums like the Briscoe Western Art Museum in San Antonio open their doors, and actively encourage children to interact with, and learn, through art programming. Far more than just looking at art, museum programming like drop-in classes and artist demonstrations provide children with a way to connect with information in different ways. Whether it’s reading, listening, creating or even smelling, museum programming takes information taught in classrooms, and presents it in a variety of ways that children can connect with. And that includes hands-on learning. Why does that matter? The brain actually goes through changes when we look at art. Studies have shown that looking at a painting, sculpture, or other artwork increases blood flow to the brain by as much as 10%. That’s the same reaction you get when you look at someone you love! Regular exposure to creativity also results in higher test scores. Young people who participate regularly in the arts are four times more likely to be recognized for academic achievement. Many studies show that children regularly engaged in creativity — such as painting and drawing classes and handson activities — develop a greater capacity for problem solving, risk taking, visual understanding and communication skills. These are vital life skills that allow children to grow and develop into successful and healthy adults. Through programming, children can also learn more deeply about the world. They can discover new things about their way of life, city, and home, or experience positive affirmation of their prior experiences. These experiences lead to a greater love of themselves and their world. A greater understand-

ing of the world around them leads to greater empathy, tolerance and critical thinking. Museum programming can also be the space that families learn, explore and discover new things about each other and their world. Ideally, families will gain a greater understanding of art, science, history but also find the personal connection and flash of curiosity. Through the personal connection, the spark to learn and question will continue within the family even after they have left the museum. One of the goals of family programming is to ignite a curiosity that will linger long after the program is over. Wondering how your family can step into the world of art? Seek out experiences like this summer’s “The Sons of Charlie Russell: Cowboy Artists of America” at the Briscoe. The exhibition’s gallery guide turns your family into art investigators, showing you how to evaluate art. You can then put those skills to work evaluating works and voting for the ones you feel best fit. And for sheer fun, your family can truly step into some of the paintings on display: our interactive shadow wall puts you in the picture. You can also meet some of the artists featured in the exhibition. Through Labor Day, enjoy “Cowboy Creations” featuring members of the Cowboy Artists of America demonstrating their artistic techniques, talking about

MANY STUDIES SHOW THAT CHILDREN REGULARLY ENGAGED IN CREATIVITY — SUCH AS PAINTING AND DRAWING CLASSES AND HANDS-ON ACTIVITIES — DEVELOP A GREATER CAPACITY FOR PROBLEM SOLVING, RISK TAKING, VISUAL UNDERSTANDING AND COMMUNICATION SKILLS

PHOTOS PROVIDED BY VALERIE GRANT, CEO AT GRANT HOUSE COMMUNICATIONS LLC

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their inspirations and sharing insights on their art. Events include a paint-along session, as well as sculpture demonstrations, giving everyone a chance to learn from these talented cowboy artists. The Briscoe also offers a variety of ways for children to directly engage in hands-on learning. Go “Full STEAM Ahead” each month, exploring a different topic or theme inspired by a painting or piece from the museum’s collection. Combining science, technology, engineering, the arts, and math to guide student inquiry, discussion, and problem-solving, each session features an activity that brings everything together to enhance learning. Children 12 and under receive free general admission to the Briscoe, making the program an affordable, and engaging, family outing.

An event not to miss is the Briscoe’s annual National Day of the Cowboy Celebration. Held on the fourth Saturday of July, the free community event features indoor and outdoor activities for cowpokes of all ages. This year’s celebration will feature “The Sons of Charlie Russell” with artist demonstrations to include leatherworking and metalsmithing, while children can spend the day doing handson crafts and fun. Saddle up with your family and head west for a day you won’t forget. Art is a creative, approachable way to engage young minds. Whether it’s through storytime programs, hands-on activities, or STEAM learning experiences, help unlock your children’s potential by making museums and museum programming part of your family activities.

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STEAMing into the West with The Sons of Charlie Russell Families and visitors of all ages are invited to learn about the American West through the works featured in The Sons of Charlie Russell during the museum’s “Full STEAM Ahead” series on the third Saturday of each month. From transportation and weather to animals, astronomy and engineering, each program explores an aspect of life in the West to engage and inspire learning. Full STEAM Ahead is included with museum general admission. Children 12 and under receive free admission to the Briscoe. Full STEAM Ahead: Red Moon Saturday, June 18, 11 a.m. – 1 p.m. Participants will learn about the lunar eclipse, and the significance the moon had on the people of the American West. Guests will also learn and practice perspective and contrast in creating art, exploring “Red Moon,” by CAA member Phil Epp and featured in The Sons of Charlie Russell. Children and families will paint their own fizzy moons using special combinations of baking soda and paint to create uniquely textured and colorful moons. Full STEAM Ahead: All A-Gnome Saturday, July 16, 11 a.m. – 1 p.m.

MUSEUM PROGRAMMING CAN ALSO BE THE SPACE WHERE FAMILIES LEARN, EXPLORE AND DISCOVER KNEW THINGS ABOUT EACH OTHER AND THEIR WORLD

A List of Summer Programs: Cowboy Creations: Learn from Cowboy Artists Bringing the art of The Sons of Charlie Russell to life, members of the Cowboy Artists of America are appearing in a series of demonstrations and talks throughout the exhibition. Guests can enjoy meeting and watching these talented cowboy artists share the processes behind their work. All sessions are included in general museum admission. Mikel Donahue Saturday, June 25 Chad Poppleton (Paint-along) Saturday, Aug, 6

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Jason Scull (Sculpture demonstration, part of the Briscoe’s National Day of the Cowboy Celebration) Saturday, July 23, 10 a.m. – 3 p.m. Bruce Greene (part of The Lessons of Our Fathers Panel) Saturday, Aug. 27, 10 – 11:30 a.m. Teal Blake (Paint-along) Saturday, Sept. 3, 11 a.m. – 1 p.m. Jason Scull (Sculpture Demonstration) Saturday, Sept. 3, 11 a.m. – 3 p.m.

Families will make their own gnomes inspired by the beloved children’s book “Charlie Russell and the Gnomes of Bullhead Lodge” by renowned author and Briscoe curator Emily Wilson. Wilson curated The Sons of Charlie Russell exhibition. Full STEAM Ahead: Whimsical Windmills Saturday, August 20, 11 a.m. – 1 p.m. While conservation and renewable energy efforts may seem like new solutions to the energy crisis, cowboys and settlers alike used renewable energy long before access to gas and electricity was ever invented. Guests will learn how windmills were some of our first sources of alternative energy. Free Cowboy Fun: National Day of the Cowboy Celebration Tippin’ its hat and celebrating the legacy of the cowboy, cowgirl and vaquero, the Briscoe Western Art Museum presents its annual National Day of the Cowboy celebration on Saturday, July 23, 10 a.m. – 4 p.m. at the Briscoe. The free community event, which includes free admission to the museum and its exhibitions, features indoor and outdoor activities for cowpokes of all ages. This year’s celebration will feature The Sons of Charlie Russell, with artist demonstrations to include leatherworking, metalsmithing and more. Saddle up with your family and head west for a day you won’t forget.

STUDIES HAVE SHOWN THAT LOOKING AT A PAINTING, SCULPTURE, OR OTHER ARTWORK INCREASES BLOOD FLOW TO THE BRAIN BY AS MUCH AS 10% About Melanie Schwebke: Melanie has a MA in Museum Education from Tufts University and over a decade of experience working in museums. She has experience developing curriculum, creating and planning professional development workshops, creating and leading school tours and feels passionately about supporting teachers any way possible. As a museum educator, Melanie also strives to create public and family programming that connects western art to the community. About The Briscoe Western Art Museum: Preserving and presenting the art, history and culture of the American West through engaging exhibitions, educational programs and public events reflective of the region’s rich traditions and shared heritage, the Briscoe Western Art Museum is located on the San Antonio River Walk. From its McNutt Sculpture Garden to the museum’s beautifully restored historic home inside the former San Antonio Public Library building, the Briscoe collection spans 14 galleries, with special exhibitions, events and a fantastic Museum Store, providing art, culture, history and entertainment. Admission is always free for children 12 and under and for active duty military members.

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Annual Wine & Food Week

PHOTOS PROVIDED BY DEBRA FORD WITH D. FORD & COMPANY

SHALE Magazine’s CEO Kym Bolado attended the Annual Wine & Food Week presented by HEB, which had been on a two-year-long hiatus due to Covid. This week-long festivity concluded with Chef Daisuke Igataki, from Shimogamo in Chandler, Arizona winning the $5,000 check and the Waterford Crystal Trophy, presented by GOYA Foods.

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ACIT Honor Industry Achievements

PHOTOS PROVIDED BY THE TEXAS CHEMICAL COUNCIL

The Texas Chemical Council had their ACIT Honor Industry Achievements in Safety and Community Annual Awards Banquet on June 9th. SHALE Magazine was fortunate enough to attend this banquet, and see TCC members recognized for their outstanding efforts to establish safe operations and care for Texas.

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Roseland Golf Tournament

PHOTOS COURTESY OF SHALE

SHALE/In the Oil Patch Radio Show was one of 36 teams to play at the Roseland Golf Tournament on June 23rd. Our team consisted of our CEO Kym Bolado, Keith Martin with DHW Well Services, and Michelle Archer.

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River City Dental Solutions

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American Association of Port Authorities’ mixer

San Jacinto College

Kym was invited to speak at San Jacinto College in Pasadena, Texas with the Gulf Coast Industrial Group.

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PHOTOS COURTESY OF SHALE

SHALE Magazine was invited to the American Association of Port Authorities’ mixer, where they promoted their organization and their Port Opportunities with Energy, Resilience, and Sustainability (POWERS) Program.

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Greater Houston Partnership’s Future of Global Energy Conference

PHOTOS PROVIDED BY D. ORTIZ/GHP PHOTOS GREATER HOUSTON PARTNERSHIP

We had the pleasure of attending the Greater Houston Partnership’s Future of Global Energy Conference. Kym Bolado got to speak to the Chair of Houston Energy Transition Initiative and CEO of Artemis Energy Partners Bobby Tudor and Jane Stricker, the Executive Director of the Partnership’s HETI.

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SHALE Magazine July/August 2022

Articles inside

Energy Crisis is an Opportunity for U.S. Leadership

What It Will Take to Bridge the E&P’s Workforce Age and Skills Gap During The Great Resignation

An Art-FULL Approach to Learning

War! What Is It Good For? Helping Your Business Avoid Insurance Coverage Battles for Losses Flowing from the

The Great Green Reset Scam

Roseland Golf Tournament

Policy Decisions by Dim Bulbs Leave The U.S Power Grid Short of Capacity