While the Department of Energy is calling it Freedom Gas, shale gas has been changing the energy industry in the United States and one billionaire, Wes Edens, is confident in it as an investment. While his history of co-founding Fortress Investment Group and being the co-owner of the Milwaukee Bucks basketball team may not indicate that he’d have much to do with Freedom Gas as an investment, but he is going strong in the industry on many different levels. Wes Edens has been providing super-chilled natural gas exports to regions like West Africa, Central America, and different parts of the Carribean. In addition to the efforts that the investor and entrepreneur is already making, he is also making plans to construct a terminal in Pennsylvania designed for exporting the cargo. Read more about Wes Edens at sportsbusinessdaily.com
The gas industry in the United States has been experiencing a considerable export boom and Wes Edens and others have found that there is a great deal of money to be made in the current market. As the shale revolution continues to transform the American gas industry, Trump has been encouraging this exportation effort. While the majority of the projects can take several years to complete, Wes Edens has been focusing on smaller facilities that will be able to function and start producing natural gas and oil much faster than some other companies’ projects. There are many countries that rely on imported oil to fuel their power plants and the shale oil exportation boom is providing them with more affordable options.
While about 99% of the energy used in the United States is supplied by oil, this isn’t the case in many developing countries across the globe according to Wes Edens. He began taking an interest in the gas industry after Fortress Investment Group purchased the Florida East Coast Railway and converted to using LNG instead of diesel fuel. Unfortunately, they could not find a suitable supplier to work with so they decided to try to handle the situation themselves in order to power its locomotives. They went on to build their own facility in Miami to produce LNG and it has grown since then. Read: https://gazetteday.com/2019/03/wes-edens-expands-his-sports-holdings-with-purchase-of-english-soccer-club/