MDN’s Energy Stories of Interest: Fri, Nov 21, 2025 [FREE ACCESS]

OTHER U.S. REGIONS: Texas gains primacy to lead in carbon capture and storage; Maura Healey deflects blame for soaring energy bills; NATIONAL: U.S. natural gas futures retreat on weather data; Natural gas price continues to consolidate; USA crude oil stocks drop by 3.4 million barrels WoW; FERC explores blanket authorizations for LNG, hydroelectric; How tariffs are impacting the U.S. oil and gas industry; As US expands NLG exports, fractionation capacity risk emerges; INTERNATIONAL: Oil slips as peace talks advance; Norway gas output hits six-month high; Colombia urges world to quit fossil fuels as its own effort founders.

OTHER U.S. REGIONS

Texas gains primacy to lead in carbon capture and storage
Energy in Depth/Willa Shannon
The EPA has officially granted Texas primacy to oversee Class VI carbon storage wells, transferring permitting authority to the state’s Railroad Commission. This decision streamlines the approval process, eliminating duplicative federal reviews and reducing significant backlogs that previously delayed projects. Industry groups hail the move, predicting it will accelerate carbon capture and storage (CCS) development and cement Texas as a global energy leader. By cutting red tape, the state expects to generate billions in economic growth and create thousands of jobs while safely managing geologic CO2 sequestration. This milestone empowers Texas to drive innovation in emissions reduction technology. [MDN: Interesting that WV got its primacy certification from the EPA in January of this year, but Texas is just now getting it. Both PA and OH are pursuing it, too. We personally think storing CO2 underground to please the global warmers is nuts, but, whatever.]

Maura Healey deflects blame for soaring energy bills
Boston (MA) Herald/Tim Dunn
Massachusetts Governor Maura Healey recently rejected claims that her past actions blocking gas pipelines contributed to the state’s soaring energy costs, instead attributing the rise to President Donald Trump’s tariffs on Canadian products. However, a new report from the Fiscal Alliance Foundation contradicts her stance, arguing that her pipeline opposition and state-mandated climate programs are the primary drivers of the expense. The report reveals that policy surcharges have quadrupled since 2014, now constituting nearly one-third of residential electric bills. While Healey pushes for accelerated solar expansion to address costs, critics maintain that state policies are costing ratepayers billions annually. [MDN: Healey is about as sleazy as politicians get. She now denies she actually blocked two major pipeline projects, which is 100% false. We’ve given up on voters doing the right thing in Massachusetts, but if they were to do the right thing, they would never return her to any office, particularly governor.]

NATIONAL

U.S. natural gas futures retreat on weather data
Wall Street Journal
U.S. natural gas futures settle lower in a choppy session with the market moving up and down on daily shifts in the weather outlook. “Today, weather trends are warmer over the eastern half of the U.S. for Dec 1-7, and that’s likely part of the reason for selling,” NatGasWeather.com says in a note. The EIA reported a 14 Bcf inventory reduction for last week, the first withdrawal of the season and in line with market expectations. Next week’s report is expected to show a small build, increasing the surplus over the five-year average, the forecaster adds. Nymex natural gas settles down 1.7% at $4.474/mmBtu. [MDN: Weather forecasts have been all over the place this week—from the same NOAA forecasters! You need a scorecard to keep track.]

Natural gas price continues to consolidate
FX Empire/Christopher Lewis
Natural gas prices edged lower Thursday, consolidating within a $4.20 to $4.70 range following a recent 30% surge. Although the outlook remains bullish due to seasonal heating demand in the U.S. and Europe, the article warns traders against chasing these elevated prices. Instead, it recommends waiting for a pullback to support levels around $4.20, $4.00, or the 50-day EMA at $3.77 before buying. While shorting is discouraged during this high-demand season, patience is necessary to secure a better entry point and avoid the risks associated with buying at the top of a rally. [MDN: The view of the NYMEX price from a trader’s perspective.]

USA crude oil stocks drop by 3.4 million barrels WoW
Rigzone/Andreas Exarheas
According to the latest EIA report, U.S. commercial crude oil inventories fell by 3.4 million barrels to 424.2 million for the week ending November 14, placing them five percent below the five-year average. While crude stocks declined, refinery utilization rose to 90 percent, and gasoline and distillate inventories increased. Analysts attribute the crude draw to heightened refinery activity, even as product demand softened. This decrease, which aligns closely with Macquarie forecasts, reverses the previous week’s significant build. Additionally, total petroleum stocks dipped by 2.2 million barrels weekly, though they remain up year-over-year, reflecting a tighter crude balance. [MDN: Less oil in inventory would argue for higher prices, yet the price for WTI remains below $60 based on international concerns that if peace breaks out between Russia and Ukraine and if sanctions are lifted on Russian oil, the world market will be flooded with oil. That’s the current primary driver of the price right now.]

FERC explores blanket authorizations for LNG, hydroelectric
Federal Energy Regulatory Commission
To enhance grid reliability and expedite infrastructure development, the Federal Energy Regulatory Commission (FERC) has initiated a process to streamline permitting for Liquified Natural Gas (LNG) and hydroelectric projects. Chairman Laura Swett announced that the Commission voted on two Notices of Inquiry seeking stakeholder feedback on establishing “blanket authorizations.” These proposed regulatory changes would allow specific activities at LNG plants and post-licensing maintenance or upgrades at hydropower facilities to proceed without case-specific orders. This move aims to simplify processes and improve efficiency for energy infrastructure. Public comments on these proposals are due 60 days after publication in the Federal Register. [MDN: Basically, Swett is looking to cut some of the red tape involved in having to have official approvals for every step of commissioning at LNG export facilities. Another Trump move to make the government more efficient and less costly.]

How tariffs are impacting the U.S. oil and gas industry
Forbes/Robert Rapier
President Trump’s second-term tariff strategy creates a distinct split in the oil and gas sector by explicitly exempting crude oil and fuel imports while heavily taxing essential infrastructure materials. While the administration spares feedstock to protect Gulf Coast refinery economics and prevent politically damaging gas price spikes, upstream and midstream companies face significantly higher costs for steel, aluminum, and electronics. These tariffs, particularly on goods from China, Canada, and Mexico, have inflated project budgets and introduced planning risks. Consequently, the industry is absorbing increased operational costs to build and maintain infrastructure, even as the core commodity remains shielded to ensure market stability. [MDN: The aim is to force production of things like pipes and electronics back here at home. We fully support Trump’s tariffs. The O&G industry needs to keep its trap shut and suck it up until manufacturing returns here, instead of carping about it.]

As US expands NLG exports, fractionation capacity risk emerges
Bloomberg/Christopher Charleston
US midstream companies are aggressively expanding natural gas liquids (NGL) export capacity to meet surging global demand, yet analysts warn a critical processing bottleneck could derail these ambitions. While NGL production has hit record highs of 7.7 million barrels daily, fractionation capacity—essential for converting raw hydrocarbons into usable products—lags significantly at 6.8 million barrels. This deficit risks clogging the supply chain and forcing production shutdowns, even as companies like Enterprise and Targa build new terminals. Ultimately, analysts caution that export infrastructure is becoming overbuilt while the system remains constrained by its limited processing capabilities. [MDN: Easy fix: Build more fractionation plants!]

INTERNATIONAL

Oil slips as peace talks advance
Bloomberg/Will Kubzansky, Mia Gindis
West Texas Intermediate crude fell 0.5% to settle near $59 a barrel after Ukrainian President Volodymyr Zelenskiy agreed to consider a peace plan drafted by the US and Russia. Markets reacted to the possibility that a deal could eventually lift sanctions on Russian exports, unleashing supply from the world’s third-largest producer into a market already fearing a global surplus. This diplomatic activity emerged just hours before new US sanctions on Russian oil giants were set to take effect. However, a final agreement remains highly uncertain given Kyiv’s past rejection of Russian demands, while traders largely shrugged off the impending sanctions, anticipating illicit flows would continue. [MDN: WTI for December delivery, which expired on Thursday, dropped 0.5% to settle at $59.14 a barrel. Brent for January settlement slipped 0.20% to settle at $63.38 a barrel.]

Norway gas output hits six-month high
Rigzone/Jov Onsat
Norway’s natural gas production reached a six-month high of 336.76 million standard cubic meters per day in October 2025, surpassing regulatory forecasts despite a slight year-over-year decline. Oil production averaged 1.82 million barrels per day, rising 2.1 percent from October 2024. Although total year-to-date petroleum volume currently trails 2024 levels, state-owned energy giant Equinor reported strong third-quarter growth on the Norwegian Continental Shelf. This increase was driven by high efficiency and new fields coming onstream, including Johan Castberg and Halten East. Consequently, Equinor maintains a positive outlook, projecting four percent annual production growth across its global portfolio despite maintenance impacts. [MDN: The country that changed the name of its state-owned company from Statoil to Equinor because it was ashamed of the word “oil” is producing more oil and gas than ever. Go figure. Only in the world of Euro weenies.]

Colombia urges world to quit fossil fuels as its own effort founders
Bloomberg/Andrea Jaramillo, Renata Carlos Daou, Laura Millan
At COP30, Colombia leads the global push to transition away from fossil fuels, yet faces severe domestic challenges in implementing this vision. President Gustavo Petro’s ban on new drilling caused gas shortages and increased costs, forcing the nation to import liquefied natural gas. This economic strain has made the policy unpopular, with leading presidential candidates now advocating for a return to fracking to secure energy reserves. While Colombia champions an international exit roadmap, the country’s heavy reliance on oil and coal exports highlights the difficulty of balancing climate goals with economic stability, signaling a potential future policy reversal. [MDN: How much longer must we put up with radical leftists who demand we end the use of fossil fuels, yet their own governments can’t quit them. They are HYPOCRITES. And really, really dumb.]