Souki in 2014. Photo: Anthony Harvey/Getty Images for The New York Times

Charif Souki is considered one of the pioneers of America’s natural-gas export boom. I recently spoke with Souki, who founded a new company called Tellurian Inc., for my latest Harder Line column. Here are more highlights from our December interview:

  • On the glut of natural gas: “The notion that there was an oversupply of LNG [liquefied natural gas] is slowly disappearing, not slowly, disappearing fast, much faster than people expected.”
  • On how companies are selling and buying natural gas: “If you look at oil indexation -- people don’t want to do oil indexation. The buyer says, ‘if oil goes back to $100 a barrel, I can’t afford your gas.’ If prices go back to $30 a barrel, we can’t afford to sell you the gas. Oil indexation doesn’t work in most cases.”
  • On the natural-gas market becoming increasingly liquid like an oil market: “If you’re a buyer around the world, pick up the phone, there is a cargo not too far from where I am [you say], ‘can you redirect it for $2 more,’ in most cases the answer is yes. … The gas market is very quickly catching up [to the oil market] in terms of liquidity. What you still don’t have is transparency.”
  • On coal: “In my mind, you really can’t save coal. It’s kind of like cigarettes. It does not mean that some people won’t continue to smoke. But today, cigarettes are a bad thing, and coal is going to be a bad thing, but some people will continue to use coal because they have no choice. It’s fine. The energy world is big enough to accommodate everything.”
  • On meeting Elon Musk, founder of electric vehicle and solar company Tesla: “I wish, because he’s a visionary. Fascinating, and he is cool. Whether he’s going to make money this time around…”
  • On emissions of methane, which is the primary component of natural gas and a potent greenhouse gas: “The government should put [in place] rules that are necessary...History is slow, and it goes with hiccups and moves up and down and some regulations make sense and some don’t.”

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Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

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Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.