MDN’s Energy Stories of Interest: Thu, Oct 16, 2025 [FREE ACCESS]
MARCELLUS/UTICA REGION: Panelists warn data centers, oil and gas threaten water resources; OTHER U.S. REGIONS: Long Island Senate GOP delegation urges Gov. Hochul to advance NESE; N.Y. Democrats urge Hochul to reject NESE pipeline over climate concerns; NATIONAL: U.S. natural gas futures slip ahead of storage data; America confronts its next great energy crisis – rare earth minerals; INTERNATIONAL: Oil slips to five-month low; Gunvor CEO says oil oversupply finally emerging; Oxy CEO sees tight oil price range through 2026; UK sanctions major Russian oil producers; Who’s afraid of American LNG?; Net-zero squeeze on oil firms ‘losing steam’, says energy executive.
MARCELLUS/UTICA REGION
Panelists warn data centers, oil and gas threaten water resources
Citizen Portal
At a Columbus Metropolitan Club forum, panelists highlighted growing threats to water quantity and quality from industrial expansion and energy activity. Representative Dontavious Jarrells warned that data centers and large users will drive up demand beyond the current 157 million gallons per day, urging water recycling and conservation by businesses and households. Discussion also focused on oil-and-gas activity, with concerns over fracking-related contamination of private wells and legislative efforts to address it. Bill Stanley of The Nature Conservancy stressed that land use, energy development, and water management are interconnected, calling for stronger planning, monitoring, and corporate recycling initiatives. [MDN: Have you ever noticed that the same exact arguments are made against fracking and (now) data centers, year in and year out? “Fracking (and data centers) uses too much water. It pollutes groundwater supplies. It needs more regulation. It needs to stop. We’re all one or two years away from extinction.” Yada yada yada. The left never gets tired of spewing this garbage, and we never get tired of calling them out for it.]
OTHER U.S. REGIONS
Long Island Senate GOP delegation urges Gov. Hochul to advance NESE
New York State Senator Mario R. Mattera
The Long Island Senate Republican Delegation urged Governor Kathy Hochul to support the $1 billion Northeast Supply Enhancement (NESE) project, calling it vital for New York’s energy reliability, economy, and environmental goals. The project would boost the state’s natural gas capacity by 13%, meet rising demand, and strengthen resilience against supply disruptions. Lawmakers said NESE would create 2,000 jobs, generate $548 million in economic activity, and deliver $230 million in wages. They argued it would cut emissions by reducing diesel use, lower electricity costs by $6 billion over 15 years, and ensure affordable, dependable energy for New Yorkers. [MDN: All great points from the Republican Senators. However, we think Hochul will support NESE because she did a deal with The Donald. Rational arguments don’t work on Dems like Hochul—only deals and raw political power work.]
N.Y. Democrats urge Hochul to reject NESE pipeline over climate concerns
New York (NY) Times/Hilary Howard, Grace Ashford
A group of top New York Democrats, including Hakeem Jeffries and Alexandria Ocasio-Cortez, urged Gov. Kathy Hochul to reject reviving the Northeast Supply Enhancement (NESE) pipeline, a $1 billion underwater natural gas project off New York City. They warned it threatens public health, marine ecosystems, and the state’s climate goals, which mandate an 85% emissions reduction by 2050. Hochul’s office cited growing energy demands and potential shortages as justification for a full environmental review. The debate highlights tension between meeting energy reliability and affordability needs while maintaining climate commitments, as the Department of Environmental Conservation weighs the project’s future. [MDN: Same comments as above on the GOP story, which is that this deal is already done. All of these letters and comments to Hochul are political theater.]
NATIONAL
U.S. natural gas futures slip ahead of storage data
Wall Street Journal
U.S. natural gas futures settle lower ahead of tomorrow’s weekly inventory data, with mild October weather keeping the front month trading each side of $3. “You take what the market gives you, and the market is giving us a sideways trading pattern based on weather and technicals,” says longtime natural gas trader John Woods. The recent spike to $3.40 or $3.50 wasn’t sustainable short-term without the demand, he says. “The risk-reward on that is just not there.” But with winter not far off, “nobody’s getting married to a position on the short side at sub-$3,” he adds. Nymex natural gas settles down 0.4% at $3.016/mmBtu. [MDN: Hmmm, we stayed above the $3 mark, but only just. We hope this turns around today and prices head higher.]
America confronts its next great energy crisis – rare earth minerals
Forbes/David Blackmon
David Blackmon’s Forbes article highlights a looming energy crisis in the U.S. due to its overreliance on imported rare earth minerals, primarily from China. These minerals are crucial for technologies like electric vehicles, wind turbines, and smartphones. China controls over 85% of global processing capacity, giving it significant leverage over supply chains. The U.S. has only one active rare earth mine, Mountain Pass in California, and lacks a comprehensive domestic supply chain. Blackmon warns that without strategic investments in mining, processing, and recycling, the U.S. risks economic and national security vulnerabilities as demand for these critical materials grows. [MDN: We absolutely must develop our own rare earths and end our dependence on China for this.]
INTERNATIONAL
Oil slips to five-month low
Bloomberg/Mia Gindis, Veena Ali-Khan
Oil prices fell to a five-month low as fears of an oversupply outweighed gains in broader markets. West Texas Intermediate dropped 0.7% to $58.27 a barrel, extending a 7% decline over five sessions, while Brent fell 0.8% to $61.91. The slide followed OPEC+’s faster-than-expected return of production and the International Energy Agency’s forecast of record oversupply next year. Trade tensions between the U.S. and China, rising shipping costs, and weakening physical crude grades added pressure. Analysts noted resistance near $60 a barrel as traders awaited U.S. inventory data, with WTI’s timespread turning bearish in contango. [MDN: Brent still above $60. We’re waiting for the turnaround for WTI, which we expect soon.]
Gunvor CEO says oil oversupply finally emerging
Bloomberg/Archie Hunter, Jack Farchy
Gunvor Group CEO Torbjorn Tornqvist said the long-expected global oil surplus is finally emerging, signaling further price declines. He estimates a 2-million-barrel-per-day surplus in 2026, while the International Energy Agency projects double that. With more crude hitting the market and demand stagnating, US oil prices have slipped below $59 a barrel. Tornqvist noted easing geopolitical tensions are shrinking price premiums, creating a tougher, more cautious trading environment. He also warned of an impending liquefied natural gas glut as major producers expand output faster than demand grows, which could delay new projects. Gunvor’s profits have fallen amid volatile and unpredictable market conditions. [MDN: Here’s the thing, we don’t believe a single word uttered by the IEA (International Energy Agency) because it is led by a corrupt executive director, Fatih Birol, who just a few years ago pronounced that all new oil drilling should stop and that unreliable renewables were about to take over the world. Why would we listen to his estimates of a massive “glut” for oil or LNG?]
Oxy CEO sees tight oil price range through 2026
Bloomberg/Mitchell Ferman
Occidental Petroleum CEO Vicki Hollub forecasted oil prices to remain between $58 and $62 a barrel through 2026 before rising afterward, expressing long-term optimism about the market. Speaking at the Energy Intelligence Forum in London, Hollub said the company expects to more than double its share price within five years by converting debt to equity rather than pursuing new acquisitions. She added that U.S. oil supply will likely peak between 2027 and 2030. Hollub emphasized her bullish outlook for oil prices in the longer term, despite expecting stability in the near future. [MDN: Here is someone we trust a lot more than the IEA, although Hollub has wandered into the unprofitable briar patch of carbon capture and sequestration. Still, she’s a good leader and a smart cookie, and we believe her oil price forecasting more than the IEA’s.]
UK sanctions major Russian oil producers
Bloomberg
The UK has imposed new sanctions on Russia’s largest oil producers, Rosneft and Lukoil, and for the first time targeted Chinese firms involved in Russian energy trade, including Beihai LNG terminal and Shandong Yulong refinery. The move, part of efforts to limit Moscow’s ability to fund its war in Ukraine, also included India’s Nayara Energy. The sanctions expand Britain’s previous measures against Russian oil transport and mark an escalation amid strained UK-China ties. While the effectiveness remains uncertain, the UK also plans to ban imports of fuels refined from Russian-origin crude, aligning with recent EU restrictions. [MDN: Perhaps seeing the steel spine of Donald Trump has encouraged the wimpy Brits to grow at least a rubbery spine?]
Who’s afraid of American LNG?
Wall Street Journal/Editorial Board
As Russia expands its liquefied natural gas (LNG) exports, some warn that a surge in U.S. LNG projects could create a global oversupply, lowering prices and hurting competitors like Russia and TotalEnergies. TotalEnergies CEO Patrick Pouyanné has cautioned that the U.S. is “building too much,” though his firm continues major projects in Mozambique and Russia. Critics argue fears of a glut ignore strong global demand, with LNG consumption expected to rise far faster than U.S. capacity. Growing demand from India, Europe’s shift from Russian gas, and the AI-driven energy boom suggest expanded U.S. LNG exports will benefit allies and weaken Putin’s leverage. [MDN: Don’t listen to the self-serving Pouyanné who wants to corner the LNG market for his company. The frogs have no legs to stand on in this debate.]
Net-zero squeeze on oil firms ‘losing steam’, says energy executive
BNamericas
Investor sentiment toward Latin America’s oil and gas sector is improving as global divestment pressures ease and governments rebalance energy priorities, said Carlos Garibaldi, head of industry group Arpel. He noted that the 2021 UN- and GFANZ-led financing squeeze on hydrocarbons has lost momentum as investors emphasize energy security and returns over strict net-zero goals. Some companies that tried to shift rapidly to renewables faced shareholder backlash, prompting a reevaluation of oil and gas opportunities. With financial alliances slowing their decarbonization push, disciplined upstream activity continues in Brazil, Argentina, and Guyana amid renewed debates over energy policy and regulation. [MDN: Net zero nonsense is going the way of the dodo bird. Oil companies that tried to convert themselves into “renewable” companies learned a hard lesson from investors: DON’T.]