The problem isn’t the gas. It’s the plumbing.
EQT Corporation CEO Toby Z. Rice basically argued that America’s natural gas market has a shipping problem dressed up as a supply story. Gas can be cheap in Appalachia, but without enough pipeline capacity, New England can end up paying a wild premium — the kind that turns a $4 commodity into a $20 headache.
Why investors should care
That gap matters because it shows how regional bottlenecks can distort prices even when supply is abundant. If you’re a producer, that can mean stranded molecules and weaker realized pricing. If you’re a pipeline or midstream company, it’s a reminder that infrastructure can be a toll booth on the energy highway.
Big picture:
The energy market doesn’t just run on supply and demand. It runs on permits, pipes, and a whole lot of patience. Until infrastructure catches up, cheap gas in one ZIP code can still mean expensive gas in another.