EIA Feb. STEO Makes Huge Change (+$0.85) re 2026 Avg Spot Price
The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook (STEO) yesterday. The STEO is the agency’s monthly best estimate of where energy prices and production will head over the next 12 months. There was a major revision to the agency’s prediction about the spot price (at the Henry Hub) for natural gas in 2026. Just last month, EIA predicted the HH spot price would average $3.46 per million British thermal units (see EIA Jan. STEO Predicts HH Spot Price Avg $3.46 2026, $4.59 2027). Yesterday, given the sharp price spike due to Winter Storm Fern and an expected drawdown in gas in storage, the EIA said its new estimate is that the HH spot price will average $4.31/MMBtu. That’s an 85-cent (a full 25%) increase in just one month. Haul out the EIA price dartboard! Read More “EIA Feb. STEO Makes Huge Change (+$0.85) re 2026 Avg Spot Price”
Duke Energy, headquartered in Charlotte, N.C., is one of the largest U.S. energy holding companies, serving 8.7 million electric customers and 1.8 million gas customers across six states as of early 2026. While the company dabbles in unreliable renewables like solar and wind, its bread-and-butter, go-to source for new electric power generation is natural gas, which it gets from the Marcellus/Utica. We’ve reported on many of Duke’s announced new gas-fired power plant projects (
In December, MDN told you that three anti-shale drilling groups—the PA Council of Trout Unlimited, the Keystone Trails Association, and the Responsible Drilling Alliance—requested the Pennsylvania Department of Environmental Protection (DEP) hold a hearing on the Chapter 105 permit requested for a 3.9-mile shale gas access road and staging area proposed by PA General Energy (PGE) in the Loyalsock State Forest (see 
Antis somehow got to the board of commissioners in Montour County, PA. Yesterday, the commissioners voted unanimously to reject Talen Energy’s request to rezone empty agricultural land near Talen’s Montour Power Plant (converted from coal to run on Marcellus gas in 2023) for a proposed data center. This decision followed community concerns stoked by lying groups like Food & Water Watch regarding “potential environmental impacts” on the nearby Montour Preserve. 
A Cleanview report reveals that nearly 75% of planned on-site power for U.S. data centers is natural gas-fired as operators bypass traditional grid connections. Driven by surging AI demands and grid delays of up to seven years, this trend involves 46 projects totaling 56 gigawatts. While developers publicly highlight renewables, immediate capacity remains dominated by gas due to its reliability. Development is concentrated in gas-rich regions like Texas and Pennsylvania. To overcome equipment shortages, some firms use creative solutions, such as repurposed jet engines. This shift underscores natural gas’s vital role in supporting the rapid expansion of American AI infrastructure. 
McKinsey & Company’s 2025 LNG Buyers Survey (full copy below) reveals a strategic shift toward flexibility and risk mitigation as global markets stabilize with upcoming supply from North America and the Middle East. Faced with geopolitical uncertainty, buyers are prioritizing supply diversification and flexible contract terms, specifically regarding destination and volume. While demand is expected to rise in Asia due to price-sensitive coal-to-gas switching, European demand will likely decline as renewables expand. To manage volatility, 70% of buyers are pursuing a mix of short- and long-term contracts (instead of just long-term). Overall, the survey emphasizes that adaptive procurement strategies are essential for navigating today’s evolving energy landscape. 
In an op-ed appearing on the Fox News website, Dan Doyle, the president of Reliance Well Services and Arena Resources, draws on decades of firsthand experience to defend hydraulic fracturing against activist criticism. He argues that fracking is a safe, highly regulated process that is essential to American energy independence and economic prosperity. By debunking common myths regarding groundwater contamination and seismic activity, Doyle emphasizes that technological advancements have significantly minimized environmental risks. Furthermore, horizontal fracking has lowered energy costs for families and reduced reliance on foreign energy sources. Ultimately, Doyle contends that the industry’s benefits to national security and the economy far outweigh the concerns raised by what he characterizes as misinformed rhetoric. 
MARCELLUS/UTICA REGION: Part-time Governor Shapiro promotes cotton candy budget; OTHER U.S. REGIONS: Severe climate act impacts threaten New York State; Oklahoma exits cement Houston as America’s oil and gas capital; NATIONAL: U.S. natural gas futures slip in choppy trade; USDA revise oil, gas approval process on National Forest Land; America’s irreversible goodbye to climate governance; U.S. feedgas demand strengthens; AGA’s 2026 Playbook highlights affordability of natural gas; INTERNATIONAL: Oil edges down; North Sea sees Europe’s first Grade A methane-certified gas project; BofA report compares Big Oil companies; Exxon says EU methane rules would add 13% to refiners’ oil costs; The perils of petronomics in a warring world; China’s “clean” energy boom still rests on coal, oil, and gas; The Great Oil Conspiracy – oil is not a fossil fuel.