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Toby Rice

President, Chief Executive Officer & Director, EQT Corporation

Search every verified Toby Rice interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Toby Rice, president and CEO of EQT Corporation, has recently discussed the role of natural gas in meeting rising electricity demand from artificial intelligence and data centers, as well as the need for energy infrastructure permitting reform. In a series of interviews and podcast appearances, Rice argued that American energy bills have risen about 40% since 2020 and said this increase predates the recent AI demand and the Iran conflict. He described a disconnect between low natural gas prices at the Henry Hub and higher consumer bills, noting that Appalachian gas was selling for about $4 while New England prices approached $20. Rice attributed these price differences to insufficient pipeline and transmission infrastructure and called for permit reform, saying political opposition has blocked projects like the Mountain Valley Pipeline, which he said took eight years and $8 billion to build after originally being projected to cost $3 billion over three years. Rice also addressed U.S. energy security in international context, noting European natural gas prices around $25 compared with under $3 in the United States. He claimed that the U.S. shut down over 174 gigawatts of reliable power generation, mostly coal and some nuclear, and said the country added only six gigawatts of reliable power generation last year compared with 60 gigawatts in China. He stated that natural gas demand could rise by 20% to fuel AI-related power generation and described data centers as major customers for oil and gas companies. Rice said that if an overbuild occurs in behind-the-meter power solutions, that would benefit the public through lower energy bills, and that the risk is borne by the industry building the projects.

Recent appearances

Verified interview transcripts

Notable quotes

“When you look at what's happening in China, just the reliable forms of power generation, last year, they added 60 gigawatts of reliable power gen. That's coal, natural gas, and nuclear. In United States, we added six. That's a problem. They built and delivered 982 ships. We built and delivered seven.”

“When people talk about shutting down hydrocarbons and only doing solar and wind, a lot of people act like it's a no risk opportunity. And I mean, I was listening to Mark Cuban describe this and he said, you know, I think he was having a debate with a VC and he said, you know, VC, even if we're wrong, we spend all this money on completely overhauling our energy infrastructure, which is impossible to take place. But ev”

“Energy dominance means that Americans continue to benefit from the lowest energy prices in the world. As I mentioned, in Europe they're paying $27 for the natural gas, in the US you're paying less than $3. That's energy dominance. We need to preserve and fight to continue to do that. Building infrastructure is going to be key. Second factor of energy dominance is we need to extend and defend our technological leaders”

“We've seen electricity prices increase over 50% and now people are looking at the conflict in Iran and they're looking this massive AI data center build up and they're saying, 'My goodness, my electricity prices are going up.' Well, guess what? Your electricity prices were going up before data centers, before Iran. Electricity prices in this country have been going up since 2020 is when we've seen a massive rise in e”

“People do not understand how much energy is needed in this world. It's a big thing to get your head wrapped around. But understand this, three billion people in this world live on less electricity than it takes to run a fridge. Think about that. Billions in this world are living in poverty. And when we look at what are the ways that we can help eliminate poverty, giving people access to energy is one of the fastest, ”

“My hottest take right now is that there is a tremendous energy demand for natural gas in this country thanks to the AI revolution that's taking place and the massive amount of power generation that's needed to fuel it. It's going to be powered by natural gas. We see a 20% increase in natural gas demand to fuel this power generation. Important thing for people to understand, power generation needs is not just based on”

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