MDN’s Energy Stories of Interest: Mon, Aug 25, 2025 [FREE ACCESS]
OTHER U.S. REGIONS: ConocoPhillips raises offtake from Port Arthur LNG; Wisconsin judge lets lawsuit challenging Bloomberg-funded SAAG move forward; NATIONAL: Oil rises on fed rate cut hopes; Natural gas futures sink ahead of ‘most bearish’ close of summer in nearly 50 years; Chevron explains transforming boom-and-bust shale into steady profits; The myth of an easy transition’s extinction burst; Climate campaign lawsuit seeks to censor scientists; Surging US LNG exports to fuel growth in shale gas production; Ethane exports surge in first half of August; Climate zealots must be stopped from abusing courts for political goals; The New York Times publishes false energy and climate information and refuses to correct its errors; INTERNATIONAL: Aramco’s $2 trillion dream turns into investor letdown; Germany’s natural gas reserves plunge to record low.
OTHER U.S. REGIONS
ConocoPhillips raises offtake from Port Arthur LNG
Rigzone/Jov Onsat
ConocoPhillips has expanded its role in U.S. liquefied natural gas (LNG) exports by signing a 20-year agreement to purchase 4 million metric tons per annum (MMtpa) from Sempra’s Port Arthur LNG Phase 2 project in Texas, adding to its existing 5 MMtpa commitment and 30% equity stake in Phase 1. The deal secures long-term LNG supply on a free-on-board basis, strengthening ConocoPhillips’ ability to deliver natural gas to global markets. Phase 2, which includes trains 3 and 4, has U.S. Department of Energy authorization to export 13.5 MMtpa through 2050 to both free trade and non-free trade countries, following a pause in permitting under the previous administration. Additional Phase 2 offtake agreements include Japan’s JERA (1.5 MMtpa) and Saudi Aramco (5 MMtpa plus a potential 25% equity stake). Sempra, targeting a final investment decision in 2025, expects Phase 1 to begin operations in 2027–2028, with further expansions under early development. [MDN: The LNG space continues to expand rapidly under the Trump administration, proving yet again how critical it is to elect the right person as president.]
Wisconsin judge lets lawsuit challenging Bloomberg-funded SAAG move forward
Energy in Depth – Climate & Environment/Mandi Risko
On August 8, a Calumet County Circuit Court judge in Wisconsin denied Attorney General Josh Kaul’s motion to dismiss a lawsuit filed earlier this year by dairy groups challenging his use of a “Special Assistant Attorney General” (SAAG) whose salary is funded by Michael Bloomberg’s program via NYU’s State Energy & Environmental Impact Center; the judge concluded that the plaintiffs—who dispute both the procurement method and the duties of the SAAG—clearly have adverse interests and a legitimate legal interest to contest what they perceive as an improper expenditure of taxpayer funds. [MDN: It’s time to excise the cancer of Bloomberg insider lawyers that are eating this country alive legally. Hopefully, this lawsuit against the practice will light the way to dump SAAGs in other states, too.]
NATIONAL
Oil rises on fed rate cut hopes
Bloomberg/Julia Fanzeres, Alex Longley
Oil prices rose modestly on Friday after Federal Reserve Chair Jerome Powell signaled a potential September interest rate cut, sparking hopes for stronger economic activity and higher fuel demand despite an otherwise bearish outlook. West Texas Intermediate settled at $63.66 a barrel and Brent at $67.73, with gains supported by the prospect of cheaper borrowing costs that reduce financing and storage burdens for oil investors. However, prices remain pressured by expectations of a global supply glut as peak summer demand fades, OPEC+ production returns, and U.S. tariffs weigh on growth. Crude has already dropped over 10% this year, and geopolitical tensions add further uncertainty: White House trade adviser Peter Navarro criticized India’s resumed Russian crude purchases and reaffirmed planned tariff hikes, while Moscow signaled flows would continue. Meanwhile, no progress was made toward ending the war in Ukraine. Analysts at Morgan Stanley warned that an unusually large but anticipated surplus will likely weaken prices without triggering market chaos. [MDN: We like the price right where it is. However, we can’t wait until Jerome Powell is gone from the Fed. He’s blocking an economic renaissance under Trump. Time for Powell to go.]
Natural gas futures sink ahead of ‘most bearish’ close of summer in nearly 50 years
NGI’s Daily Gas Price Index/Chris Newman
September natural gas futures sank to a new nine-month low on Friday as unseasonably cool weather crushed demand outlooks, overwhelming Thursday’s bullish storage report and a late week rebound in LNG exports. The September Nymex contract fell 12.8 cents to settle at $2.698/MMBtu, off an intraday low of $2.692, the weakest level for prompt month futures since November. NGI’s Spot Gas National Avg. fell 15.0 cents to $2.345 as prices fell across the board. The spot price for Lower 48 benchmark Henry Hub at $2.790 was down 9.0 cents day/day and down 18.0 cents week/week. In futures trading, September ground lower through most of the day after a morning bounce failed to regain an overnight high of $2.819. Adding to weak near-term fundamentals, the contract’s approaching monthly expiration on Wednesday could inject volatility into trading next week. [MDN: Yuck. The price continues to sink. Let’s see what this week brings.]
Chevron explains transforming boom-and-bust shale into steady profits
Fortune/Jordan Blum
Chevron is shifting its U.S. shale strategy from aggressive growth to stable cash generation, aiming to turn its vast Permian Basin operations into a “cash machine” after years of heavy investment. With the $53 billion Hess acquisition, Chevron not only expands in the Bakken Shale but also gains a major stake offshore Guyana, one of the century’s largest oil discoveries. Now, U.S. shale makes up 40% of Chevron’s global output, but instead of chasing growth, the company is plateauing production while cutting shale spending by $1.5 billion annually, boosting efficiency through technology and AI. Chevron has reduced active Permian drilling rigs while still hitting its goal of producing 1 million barrels a day, aided by legacy mineral rights and joint ventures that provide unique low-cost advantages. Analysts praise the pivot as Wall Street favors discipline, while Chevron weighs global exploration opportunities and portfolio divestments, positioning itself against Exxon’s continued growth-driven strategy. [MDN: Interesting article about Chevron’s strategy of creating an ongoing cash cow out of shale. It proves that shale is not a flash in the pan as critics claim, but a sustainable, cash-generating business.]
The myth of an easy transition’s extinction burst
Both of These Things are True/Tisha Schuller
The article critiques the narrative that the recently passed “One Big Beautiful Bill” (BBB) is solely to blame for rising energy prices, arguing that these increases were already inevitable due to poorly coordinated climate mandates, grid constraints, and reliability issues. It frames the backlash against the BBB as an “extinction burst”—a last-ditch tantrum by the long-standing “Myth of an Easy Energy Transition,” which falsely promised cheap, seamless decarbonization. The author stresses that while energy prices will rise, blaming the BBB oversimplifies a more complex reality. Instead, companies and leaders should use this moment (“The Moment”) to move beyond myth-making by avoiding overreaction, clearly explaining the structural drivers of energy costs, and embracing pragmatic strategies focused on affordability, reliability, and realistic decarbonization. By leading with transparency and constructive engagement, industry stakeholders can inoculate themselves against political blame, strengthen credibility, and make the outdated myth of an easy transition irrelevant. [MDN: In essence, stupid people are trying to fool other stupid people into believing the OBBBA is to blame for the “sudden” rise in the price of electricity, something that was predicted last year and already coming at us like a freight train. Lesson: Don’t be stupid.]
Climate campaign lawsuit seeks to censor scientists
Committee For A Constructive Tomorrow (CFACT)/Craig Rucker
Two left-wing campaign groups—the Environmental Defense Fund (EDF) and the Union of Concerned Scientists (UCS)—have filed a lawsuit in federal court in Massachusetts seeking to suppress and censor a climate assessment recently submitted by five climate-science experts to the Department of Energy (DOE). The complaint apparently does not seek monetary damages but aims to legally prohibit Energy Secretary Wright from thinking, communicating, or accepting public commentary regarding what CFACT characterizes as “the most sound and unbiased climate assessment” produced in years. CFACT questions why the scientific perspectives of these five experts must be silenced and provocatively suggests that the DOE report must “terrify the climate/Left.” CFACT also promotes an associated commentary by Rear Admiral Tim Gallaudet, who held a senior role at NOAA, that purportedly supports the DOE’s approach. [MDN: The left, particularly EDF and UCS, is all about muzzling free speech. Their bankrupt ideas can’t compete in the arena of free and open dialogue that challenges their mythology.]
Surging US LNG exports to fuel growth in shale gas production
Reuters/Scott Disavino
U.S. liquefied natural gas (LNG) exports are expected to grow by roughly 10% annually through 2030, rising from 11.9 billion cubic feet per day (bcfd) in 2024 to 21.5 bcfd, as global demand increases and countries shift from coal to gas, prompting construction of new export terminals and infrastructure. Major shale regions—Haynesville, Permian Basin, Marcellus, and Utica—are projected to see production gains of up to 41% in Haynesville and 21% in the Permian by 2027. These prospects are bolstered by favorable federal permitting policies under President Trump. Although domestic gas use, particularly for electricity, is waning due to renewable energy growth, total U.S. gas demand, including exports, is forecast to inch up by around 1% annually through 2030. However, constrained pipeline capacity—especially in the Northeast—may limit growth unless significant investment in transportation infrastructure occurs. [MDN: The demand is there and growing. What we need now are new pipelines.]
Ethane exports surge in first half of August
RBN Energy/Kristen Holmquist
U.S. ethane exports rebounded sharply in August after a June slump tied to Bureau of Industry and Security (BIS) licensing requirements for shipments to China, which were later lifted. Exports fell to 372 Mb/d in June, with Energy Transfer’s Nederland terminal dropping from 180 Mb/d in May to 101 Mb/d in June, before partially recovering in July. By the first half of August, total ethane exports surged to a record 625 Mb/d, up 37% from July, driven largely by an 88% jump from Nederland, where volumes reached 308 Mb/d as the company’s new 250 Mb/d flex terminal entered ethane service. Enterprise also began shipping from its new Neches River terminal, sending two cargoes at 38 Mb/d, though full capacity is 120 Mb/d and a flex unit is not expected until next year. Most of these additional flows are bound for Asia, as exports to Europe declined, and none were directed to Latin America. [MDN: And just like that, ethane exports bounce right back after the kerfuffle over Trump’s temporary pause on exports to China. A lot of hot air was expressed over nothing.]
Climate zealots must be stopped from abusing courts for political goals
The Empowerment Alliance/Gary Abernathy
In recent years, political disputes that once played out primarily in elections or legislatures have increasingly shifted into the courts, with opponents of policy outcomes using lawsuits to achieve what they could not secure through democratic means. Under the Trump administration, this trend has accelerated, with legal challenges targeting efforts to restrict illegal immigration, shrink government, dismantle DEI programs, adjust tariffs, and reverse Biden-era environmental and climate policies. Environmental activists, in particular, have long leveraged the courts to challenge fossil fuel companies, often seeking damages or emission cuts based on alleged contributions to climate change. Since the 2015 Paris climate accord, such lawsuits have nearly tripled, but many courts are now rejecting them as frivolous or outside jurisdiction. A recent South Carolina ruling dismissed Charleston’s claims against oil companies, stressing that climate issues are political questions for federal branches, not local courts. Similar dismissals elsewhere highlight growing judicial pushback against politicized litigation. [MDN: Again, we must stop this lawfare. Much of it is financed by international NGOs. The first step is to rip away their tax-exempt status. They violate that status by engaging in political activities.]
The New York Times publishes false energy and climate information and refuses to correct its errors
RealClearEnergy/Howard Gruenspecht
The article critiques The New York Times (NYT) for publishing inaccurate and misleading information in its energy and climate reporting and for failing to uphold its stated corrections policy. Drawing on decades of experience in energy policy and data analysis, the author reviews three recent NYT pieces: Max Bearak’s July 2025 article on UN Secretary-General Guterres’ remarks, Ivan Penn’s May 2025 article on electric vehicles, and David Wallace-Wells’ April 2025 column on climate change momentum. Each, the author argues, contains factual errors—such as misrepresenting China’s reliance on coal, inaccurately attributing the historical demise of EVs to oil tax policy, and falsely reporting U.S. renewable energy generation levels. Even when errors are acknowledged, the NYT often issues incomplete, misleading, or evasive corrections, prioritizing narrative preservation over accuracy. The article concludes that this pattern undermines journalistic integrity, erodes reader trust, and betrays the NYT’s duty to provide reliable information, particularly on complex issues like energy and climate. [MDN: The New York Times lies to you. You know that and understand it, right?]
INTERNATIONAL
Aramco’s $2 trillion dream turns into investor letdown
OilPrice.com/Irina Slav
Since its $29.4 billion IPO on the Tadawul in December 2019, which gave Aramco a $1.7 trillion valuation, the company has disappointed investors with only a 16% shareholder return — far trailing Exxon, Shell, and Chevron. Its underperformance stems from persistently weak oil prices, waning demand from China, and heavy state spending demands that have dragged on its financials. Crown Prince Mohammed bin Salman’s ambitious $2 trillion valuation target was meant to underpin massive diversification projects like the $500 billion Neom smart city, but funding strains have forced the sovereign wealth fund to take an $8 billion writedown on those plans. Although Saudi Arabia’s non-oil GDP is rising and accounted for 39% of total GDP in 2024, megaprojects like Neom are struggling, and Aramco has even borrowed to sustain dividend payments amid a 20% profit slump and rising costs. [MDN: Couldn’t happen to a nicer thug dictatorship. You can tell we’re all broken up over it.]
Germany’s natural gas reserves plunge to record low
Amman (Jordan) Middle East North Africa Financial News (MENAFN)
Germany’s natural gas reserves have dropped to just 67% capacity, far below historical levels and significantly trailing neighboring countries, raising concerns about energy security if a harsh winter arrives. By comparison, storage stood at 75% in 2022, 90% in 2023, and nearly 92% in 2024 during the same period, while France, Poland, and Austria currently hold around 77–80% and Belgium leads at 92%. Opposition leaders, such as Michael Kellner of the Green Party, warn that supply security may not be guaranteed during extreme cold, though the government seeks to downplay risks, citing four new floating LNG terminals that provide flexible year-round imports and reduce reliance on storage. The shift reflects Germany’s post-2022 energy strategy, after sanctions on Russia and the Nord Stream sabotage ended dependence on Russian supplies, which once accounted for over half of its gas. Germany now leans on Norway, the Netherlands, and Belgium for more expensive but diversified imports. [MDN: Sooner or later, a Euro weenie country like Germany is going to get caught with its energy pants down, and it won’t be pretty. Will it be this winter?]