Stephen Riney

President, APA Corporation

Search every verified Stephen Riney interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Stephen Riney, president and chief financial officer of APA Corporation, discussed the global energy landscape in a May 2024 podcast appearance. He argued that the term "energy transition" is misleading, describing the current period instead as an "energy expansion" that is beneficial because the world needs more energy, not less. Riney noted that about 10% of the global population lacks access to electricity and a third lacks clean cooking fuels, framing these as ongoing issues of energy poverty. He also stated that calls to immediately stop oil and gas production are "preposterous," asserting that such a move would lead to global chaos, and that oil and gas will remain necessary for decades. Riney also addressed the economics of natural gas, explaining that low U.S. prices of around $2 per thousand cubic feet do not support increased domestic drilling, while exporting liquefied natural gas to markets like Europe, where prices are around $10, offers more attractive returns. He described the challenges and opportunities of operating as a multinational energy company, noting that while there are difficulties, the opportunities outweigh them. Additionally, Riney expressed skepticism about rapid tipping points in the energy sector, suggesting that significant technological breakthroughs and large-scale funding capacity are required, which he said the oil and gas industry does not typically experience.