MDN’s Energy Stories of Interest: Wed, Dec 10, 2025 [FREE ACCESS]

OTHER U.S. REGIONS: Venture Global hits back at Shell’s fraud claims in LNG arbitration battle; Dem-leaning group roasts NY’s green energy law as an ‘undeniable’ failure; NATIONAL: U.S. natural gas extends pullback on shifting weather outlook; A different inconvenient truth (this one is true); EIA to ditch some existing reports and launch new surveys on minerals, data centers; U.S. LNG feedgas demand at record levels; Datacenter boom drives rapid power grid innovation; INTERNATIONAL: Oil falls again on oversupply signs; BMI analysts make 2026 oil demand prediction.

OTHER U.S. REGIONS

Venture Global hits back at Shell’s fraud claims in LNG arbitration battle
Reuters
Venture Global filed a response in New York Supreme Court rejecting Shell’s fraud allegations regarding a lost arbitration case over liquefied natural gas deliveries. Shell claimed Venture Global concealed evidence about delays at its Calcasieu Pass plant, arguing unfair treatment after BP won a similar dispute. Venture Global denied misconduct, countering that Shell breached arbitration confidentiality. The filing also revealed an email indicating Shell remains interested in a commercial settlement for both the Calcasieu Pass and Plaquemines facilities. This ongoing legal battle, stemming from missed long-term contract deliveries during high spot market prices, has significantly impacted Venture Global’s stock value. [MDN: We firmly believe Shell is in the right on this one, that VG should have been selling some of the HUNDREDS of cargoes it shipped to Shell instead of on the open/spot market under the pretense that the facility was still not commercially ready.]

Dem-leaning group roasts NY’s green energy law as an ‘undeniable’ failure
New York (NY) Post
A report by the Democratic-leaning Progressive Policy Institute characterizes New York’s 2019 Climate Leadership and Community Act as an “undeniable failure,” citing soaring utility costs and reduced system reliability. The analysis argues that state politicians ignored economic and technical realities when setting bold green energy targets, resulting in a politically unsustainable and expensive energy system. Consequently, Con Edison plans to raise average electric bills by 2.8% and gas by 2% over the next three years. By 2028, typical New York City electric bills could rise to $114.20 monthly, while Westchester residents may see bills exceeding $160, further straining customers. [MDN: Even the Dems are telling their own about their policy failures. What does that tell you?]

NATIONAL

U.S. natural gas extends pullback on shifting weather outlook
Wall Street Journal
U.S. natural gas futures sink for a second straight session as the market digests a less drastic view of coming weather. “Normal to slightly below average temperatures are expected to settle into a large portion of the heavy-usage region of the U.S. next week with some bearish outlooks stretching toward Christmas,” Ritterbusch and Associates says in a note. “But just as this market overextended itself on the upside at the end of last week, we are viewing this week’s decline as an exaggeration that could be sowing the seed for another sharp price up-spike on first suggestion of a renewed late December or early January cold spell.” Nymex natural gas settles down 6.9% at $4.574/mmBtu. [MDN: We think volatility is the word of the day. Watch for wild swings in the price along with the weather forecast. If/when a cold snap returns (and it will), watch for the price to go up again.]

A different inconvenient truth (this one is true)
Committee For A Constructive Tomorrow (CFACT)
In “A different inconvenient truth,” Joe Bastardi uses the AI model Grok to critique climate alarmism, asserting that Al Gore’s catastrophic predictions from the past thirty years have failed to materialize. The article argues that the estimated $10-12 trillion spent on climate measures could have alternatively eradicated global hunger and homelessness. Bastardi highlights that financial markets do not invest as if doomsday is imminent, contradicting alarmist narratives. Likening climate mandates to COVID-19 restrictions, he concludes the “real inconvenient truth” is that vast resources were wasted on a false apocalypse to justify permanent societal control rather than solving actual human suffering. [MDN: Bastardi makes an excellent point. The whole global warming thing is a scam aimed at controlling people, not actually saving the planet. What a waste. We could have done some real good with the money BLOWN on unreliable renewables. Instead, we have ongoing misery. Thanks, Al.]

EIA to ditch some existing reports and launch new surveys on minerals, data centers
Reuters
U.S. Energy Information Administration (EIA) Administrator Tristan Abbey announced significant operational changes to streamline the agency’s output. To reduce redundancy, the EIA plans to eliminate specific natural gas and electricity reports, including the Southern California energy dashboard, while preserving critical market-moving weekly data. Conversely, the agency intends to launch over ten new surveys focusing on data centers and critical minerals like graphite. Abbey also outlined plans to revamp the flagship Annual Energy Outlook by integrating international forecasts. Furthermore, he emphasized the urgent need for IT system reforms following a recent technical glitch and is considering establishing a Houston field office. [MDN: Probably time the EIA got a makeover. It must remain independent and use the latest technology in its forecasting.]

U.S. LNG feedgas demand at record levels
RBN Energy
U.S. LNG feedgas demand reached new record highs last week, averaging 19.2 Bcf/d. This represents a slight weekly increase and places current demand over 5 Bcf/d higher than the same period last year. The surge is primarily driven by terminals currently in the commissioning phase, specifically Plaquemines, which averaged 4.2 Bcf/d, and Corpus Christi’s Stage III. With nearly every facility operating at full or peak winter capacity, the sector is experiencing significant volume growth fueled by these infrastructure expansions. [MDN: Look for new record highs as we move into 2026 with new facilities coming online.]

Datacenter boom drives rapid power grid innovation
Forbes
The booming datacenter industry is driving up U.S. power demand and utility rates, particularly in the Northeast and Texas, significantly threatening grid reliability. As wholesale prices soar in key “hot spots,” utilities are responding with innovations like stricter connection requirements and new tariffs to deter speculative projects. Concurrently, tech giants are bypassing grid bottlenecks by investing in “behind-the-meter” distributed generation, utilizing smaller turbines to secure power faster than traditional infrastructure allows. This supply-demand crunch is ultimately forcing both utilities and developers to rapidly evolve their energy strategies, proving that necessity remains the primary driver of innovation in the energy sector. [MDN: The thesis of David Blackmon’s article is that the free market will figure it out, as it always does. The less government meddling, the better.]

INTERNATIONAL

Oil falls again on oversupply signs
Bloomberg
West Texas Intermediate crude declined 1.1% to settle near $58 a barrel, marking a second day of losses driven by weakness in refined product markets like gasoline and diesel. The falling “crack spread”—the profit margin for refining crude—is exacerbating bearish sentiment regarding a looming supply glut. The Energy Information Administration projects record U.S. output of 13.61 million barrels per day this year, reinforcing fears of oversupply. While sanctions on Russian entities offer some price support, trend-following traders are selling off positions. Markets are now awaiting critical reports from the IEA and OPEC to gauge the full extent of future surpluses. [MDN: West Texas Intermediate for January delivery edged down 1.1% to settle at $58.25 a barrel, while Brent for February settlement slipped 0.9% to settle at $61.94 a barrel.]

BMI analysts make 2026 oil demand prediction
Rigzone
BMI analysts project that global oil demand will experience steady but historically slow growth of 1.0 percent in 2026, adding one million barrels per day. This expansion is primarily driven by emerging markets like India and China, which are expected to offset contraction in developed nations. While steady global GDP growth supports this demand, anticipated oversupply is expected to keep prices under pressure, with BMI forecasting Brent crude to average $67 per barrel. Comparative data from Morningstar and the EIA supports the outlook for continued consumption growth, though the EIA predicts a steeper price decline to approximately $55 per barrel. [MDN: BMI believes oil will be in the $60s in 2026. We do too.]