MDN’s Energy Stories of Interest: Mon, Jan 26, 2026 [FREE ACCESS]

MARCELLUS/UTICA REGION: US DOE issues order allowing PJM power plants to run without regard to air quality; OTHER U.S. REGIONS: Will Governor Spanberger return to common sense and moderation?; NATIONAL: U.S. natural gas adds to gains in choppy trade; Winter weather to disrupt U.S. gas production, increase prices; INTERNATIONAL: Crude closes higher on Iran, cold weather; SLB predicts worst is behind global oil market.

MARCELLUS/UTICA REGION

US DOE issues order allowing PJM power plants to run without regard to air quality
PA Environment Digest Blog
On January 25, PJM Interconnection obtained a Department of Energy emergency order allowing power plants to bypass environmental permits and fuel restrictions through January 31. While current resources are sufficient, this proactive measure prepares for record-breaking electricity demand and extreme cold forecasted for the week. PJM also activated Demand Response programs across Mid-Atlantic regions—including BGE, Dominion, and Pepco—to alleviate localized transmission stress and conserve generator capacity. By incentivizing customers to reduce consumption, PJM aims to maintain system reliability and manage the anticipated load surge during this critical winter period, ensuring power remains available for all residents. [MDN: This is a sensible precaution to avoid power outages due to the increase in unreliable renewable power sources that don’t perform during winter storms like Fern.]

OTHER U.S. REGIONS

Will Governor Spanberger return to common sense and moderation?
Townhall.org
In this piece, Paul Driessen questions whether Virginia’s Democratic Governor Abigail Spanberger will uphold her moderate campaign promises or follow “radical” energy paths seen in California and New York. Driessen argues that despite Spanberger’s rhetoric on affordability, her administration’s early push for green energy—including wind, solar, and costly battery storage mandates—threatens grid reliability and significantly increases costs for families. He critiques these policies as scientifically and economically flawed, highlighting environmental risks like battery fires and toxic waste. Ultimately, Driessen urges the governor and legislature to prioritize common sense and economic reality over aggressive climate agendas to ensure stability. [MDN: The lying Democrats (like Spanberger) are trying to blame soaring electricity prices on Trump. It is their own policies (and the lingering effects of the Biden disaster) that are forcing prices higher.]

NATIONAL

U.S. natural gas adds to gains in choppy trade
Wall Street Journal
Driven by a severe winter blast and surging heating demand, U.S. natural gas futures continued their record-breaking rally, with the Nymex February contract rising 1.6% to $5.124/mmBtu. Eli Rubin of EBW Analytics indicates that while the depletion of short positions may eventually dampen some momentum, physical market prices are already soaring in anticipation of the coldest storage week of the shale era. This volatility is clearly reflected in spot prices, which reached $8.14/mmBtu at the Henry Hub and spiked to as high as $30 in New England, with experts cautioning that even higher daily figures likely lie ahead as the extreme weather persists. [MDN: Yikes! Spot prices are through the roof right now. They will fall back to earth (most likely) sometime this week. Still, let’s all enjoy it while it lasts!]

Winter weather to disrupt U.S. gas production, increase prices
The Center Square – Energy
Widespread extreme cold is poised to slash U.S. natural gas production by 10%, as “freeze-offs” block pipelines and wellheads. This supply disruption triggered a record 59% surge in natural gas futures, the largest weekly jump since 1990, likely leading to higher residential utility bills. While current inventories remain above average, significant storage withdrawals are anticipated to meet demand. The situation mirrors the 2021 Texas energy crisis, which caused massive power outages and financial losses. Vulnerable regions, particularly the Haynesville and Marcellus shale basins, face the greatest risk as temperatures plummet, testing infrastructure readiness and weatherization standards. [MDN: Look for spot prices, and even the NYMEX futures price for natural gas, to remain elevated for at least the next few days due to the storm and freeze-offs.]

INTERNATIONAL

Crude closes higher on Iran, cold weather
Bloomberg/Rigzone
Oil prices rose nearly 3%, with WTI settling above $61, as traders factored in potential US military action against Iran and a severe domestic winter storm. Geopolitical instability, driven by threats to Iranian leadership and the ongoing war in Ukraine, has reintroduced a risk premium despite projected supply gluts. A weakening US dollar also bolstered prices by making crude cheaper for international buyers. Although the IEA warns of rising stockpiles, increased hedge fund interest and industry optimism suggest a bullish turnaround after 2025’s slump, leaving the market highly sensitive to breaking news and shifting military assets. [MDN: Imagine that…the price of oil will be higher this year than originally forecast by everybody…except MDN. Which has told you there are far too many variables to say that oil will crash into the $40s and $50s and stay there. We’ve told you the $60s is where it’s likely to live for the foreseeable future.]

SLB predicts worst is behind global oil market
Bloomberg/Rigzone
SLB, the world’s largest oilfield-services provider, beat fourth-quarter earnings estimates and increased its dividend, bolstered by a 121% surge in its data-center business and accelerating Middle East activity. CEO Olivier Le Peuch predicts a drilling recovery in 2026, particularly among OPEC nations, as the company pivots toward production efficiency and oilfield tech to offset market volatility. Additionally, SLB is poised to re-enter Venezuela’s oil sector following potential regulatory shifts. By diversifying its revenue streams and capitalizing on international growth, SLB has reinforced its status as an industry bellwether, resulting in a notable rise in share prices. [MDN: SLB, formerly Schlumberger, says the worst of the oil slump is behind us. They should know since their business depends on management being right about things like that.]