MDN’s Energy Stories of Interest: Mon, Jun 30, 2025 [FREE ACCESS]
MARCELLUS/UTICA REGION: Impact fee just part of gas industry’s success; NATIONAL: U.S. natural gas prices rise 3% as LNG feedgas edges higher; From JFK to Zohran Mamdani…what caused the decay of the Democrat Party?; Shattered Green Dreams – The Environmental Costs of Wind and Solar; INTERNATIONAL: Oil steady as OPEC+ weighs output hike; Are we heading to sub-$60 oil?; European Council, Parliament reach deal on gas storage rule extension; Who is the upstream industry’s most admired explorer?
MARCELLUS/UTICA REGION
Impact fee just part of gas industry’s success
Williamsport (PA) Sun-Gazette/Editorial Staff
Lycoming County and its municipalities have received a $6.9 million disbursement from the natural gas impact fee, contributing to a total of $134.5 million since the fee’s inception. This funding supports projects that enhance the region’s quality of life, sparing local governments from diverting tax revenue or raising taxes. The natural gas industry has been a significant economic driver, creating jobs that bolster local businesses and expand the tax base. It provides a domestic energy source that reduces reliance on foreign energy from oppressive regimes, emits fewer pollutants than other fossil fuels, and offers reliability compared to solar and wind. The industry’s diverse energy portfolio helps stabilize prices, benefiting families and employers. The $6.9 million is just one aspect of the broader opportunities brought by Marcellus Shale development, which continues to foster economic growth and community improvement in Lycoming County and surrounding areas. [MDN: An editorial from the newspaper’s editors praising the Marcellus industry not only for the revenue it generates via the impact fee, but all of the other economic and jobs impacts it has had in the Lycoming County region.]
NATIONAL
U.S. natural gas prices rise 3% as LNG feedgas edges higher
Reuters/Pipeline & Gas Journal
On June 27, U.S. natural gas futures for August delivery rose 3% to $3.631 per million British thermal units, a 12% increase from the July contract’s close, driven by increased gas flows to LNG export plants as they resumed operations post-maintenance. Despite forecasts of continued warmer-than-normal weather through mid-July, temperatures were not expected to reach earlier peaks, leading some analysts to suggest the market’s summer high of $4.15 per MMBtu on June 20 may have passed. September 2025 futures traded at a premium over August, signaling expectations of tighter supplies or higher demand. Gas output in June averaged 105.6 billion cubic feet per day, up slightly from May, while LNG export feedgas dropped to 14.2 Bcf/d from April’s record high. A recent heat wave reduced gas storage injections, and the U.S. remains the top global LNG supplier, with international prices at four-week lows in Europe and two-week lows in Asia. [MDN: Good old LNG helping to keep the price of natgas out of the basement.]
From JFK to Zohran Mamdani…what caused the decay of the Democrat Party?
America Out Loud News/Dean Bowen
Benny Johnson contrasts the Democratic Party of 50 years ago, led by figures like JFK—a decorated war hero and anti-communist who advanced space exploration—with its current state, exemplified by figures like Zohran Mamdani, whom he describes as a foreign-born, communist-leaning activist pushing extreme ideologies like defunding the police. Johnson attributes this “decay” to open borders, claiming Democrats have shifted their voter base by appealing to third-world immigrants’ radical views. However, the article argues this is a symptom, not the cause. Trevor Loudon, in a June 2024 piece, traces the decay to communist infiltration of the Democratic Party over three decades, achieved through ideological manipulation rather than direct confrontation. This influence, spread via labor unions and figures like Randi Weingarten, has pushed policies like open borders and radical social agendas. Candidates like Alexandria Ocasio-Cortez and Ilhan Omar reflect this shift, with the party now openly embracing communist-leaning policies, a trend Loudon says began 25–30 years ago. [MDN: This article isn’t directly connected to oil and gas, but it’s related. Can NYC really, actually, elect a Communist Muslim as its next Mayor? We shudder to think it’s even possible. We seriously doubt Mamdani will win, but the fact he has a good chance is shocking. Much of the anti-shale movement in this country is funded by Communist countries like China and Russia. Mamdani is a symptom, not the disease. Communism is the disease. JFK understood that, to his credit.]
Shattered Green Dreams – The Environmental Costs of Wind and Solar
The American Experiment/Sarah Montalbano
This report warns that the environmental costs of wind, solar, and battery storage are routinely underestimated in public policy discussions, while the benefits of conventional energy sources such as nuclear, natural gas, oil, and coal are increasingly ignored. It offers a comprehensive analysis of the hidden tradeoffs involved in large-scale renewable energy deployment. Contrary to popular perception, the report argues that wind and solar power are not environmentally benign, and their widespread adoption entails significant ecological and material costs. [MDN: We encourage you to download the Shattered Green Dreams report and read it.]
INTERNATIONAL
Oil steady as OPEC+ weighs output hike
Bloomberg/Mia Gindis, Julia Fanzeres
Oil prices stabilized as traders evaluated the uncertain US-Iran nuclear talks and potential OPEC+ production increases. West Texas Intermediate settled at $65.52 per barrel, while Brent crude reached $67.77. Reports suggest OPEC+ may consider another 411,000 barrel-a-day increase for August, following similar hikes in prior months, though some expect even larger boosts, potentially leading to a supply overhang. This comes as Russia shifts toward supporting increased output, raising concerns about oversupply. Meanwhile, US Energy Secretary Chris Wright confirmed sanctions on Iran will persist, despite earlier suggestions of nuclear talks, which Iran denied. A recent Israel-Iran ceasefire eased supply disruption fears, contributing to a 13% weekly price drop. Additionally, progress in US-China trade talks, including a finalized deal on rare earths, and looming US tariff decisions further influenced market dynamics. Analysts warn that further OPEC+ supply expansions could pressure prices, testing market stability. [MDN: The market is quite stable and maintaining in the $60s.]
Are we heading to sub-$60 oil?
Forbes/Gaurav Sharma
The Forbes article by Gaurav Sharma discusses the recent stabilization of oil prices following a brief spike due to Middle East tensions, with Brent crude dropping from high $70s to low $60s by June 2025. The market has de-risked after Iran’s muted response to U.S. attacks on its nuclear facilities, reducing fears of disruptions in the Strait of Hormuz. Despite OPEC+ increasing production by 411,000 barrels per day for July, weak demand growth forecasts from the International Energy Agency (720,000 bpd for 2025) and a potential supply surplus, particularly in light sweet crude, are pushing prices downward. Goldman Sachs and other analysts predict Brent and WTI prices could fall to $56 and $52 per barrel, respectively, by 2026, driven by rising non-OPEC production and subdued global demand. The article suggests oil prices may dip below $60 unless significant geopolitical or macroeconomic events occur. [MDN: Even if the price dips into the $50s, it’s not the end of the world for the oil industry. They will survive, and the better companies will still make a profit.]
European Council, Parliament reach deal on gas storage rule extension
Rigzone/Jov Onsat
The European Council and Parliament have provisionally agreed to extend the EU’s Gas Storage Regulation, initially set to expire in 2025, until 2027 to ensure energy security amid ongoing challenges from the energy crisis. The regulation mandates that natural gas storage facilities be filled to at least 90 percent capacity before winter, with a new flexible timeline allowing this target to be met between October 1 and December 1, rather than the previous fixed November 1 deadline. While intermediary storage targets remain indicative to provide market flexibility, the agreement aims to maintain gas supply security and market stability. The European Commission will collaborate with Member States to optimize storage refilling, including through the AggregateEU mechanism, now permanent, which facilitates joint gas purchasing. Additionally, the Commission proposed phasing out Russian natural gas, oil, and oil product imports by 2027, ensuring support for Member States to avoid energy shortages. The agreement and proposal await formal adoption by both institutions. [MDN: You can mark our words right here and right now (and someday turn back to them to remind yourself MDN is rarely wrong), that Europe will NEVER phase out buying Russian oil and natural gas. Not gonna happen. Europe has no spine.]
Who is the upstream industry’s most admired explorer?
Rigzone/Andreas Exarheas
ExxonMobil was named the “most admired upstream explorer” in Wood Mackenzie’s 2025 Annual Exploration Summit Survey, recognized for its exceptional exploration and development achievements, particularly in Guyana, where it has generated nearly $30 billion in value and exceeded 700,000 barrels per day in new oil production. The company discovered over eight billion barrels of new field resources since 2015, outpacing all competitors. At an awards ceremony, ExxonMobil was one of four standout performers, alongside Galp Energia, honored for its Mopane discovery in Namibia; Murphy Oil, recognized for oil finds in Vietnam; and CNOOC, which secured second place with over seven billion barrels of oil equivalent discovered, notably in China and Guyana. Wood Mackenzie’s survey highlights the industry’s focus on targeting advantaged resources to meet demand for cost-effective, sustainable energy, with successful explorers like these companies driving new plays and basins to support the energy transition. [MDN: Imagine that, an American company is considered the #1 most admired upstream explorer. Wonders never cease. Congrats to Exxon!]