NYMEX NatGas Price Jumps Another 27.3 Cents to $4.28/MMBtu
Yesterday, MDN noted the NYMEX “front month” futures price of natural gas had jumped 28.2 cents to close just above $4/MMBtu (see Wx Drives March NYMEX Price to Close at $4/MMBtu, Spot Price Higher). The price did it again. Yesterday, the NYMEX price for March delivery closed +6.8% to $4.280/MMBtu, a new 52-week high and the highest settlement value for the front-month contract since December 30, 2022. U.S. natural gas has surged 40% this month alone and 18% year-to-date. Read More “NYMEX NatGas Price Jumps Another 27.3 Cents to $4.28/MMBtu”
Two days ago, President Trump signed yet another executive order, this one called “Ensuring Accountability for All Agencies.” We’ve lost count of how many he’s signed! This latest EO is a really, hairy, big deal. This EO gives the president sweeping control over the budgets, policies, and regulations of independent U.S. agencies that oversee the energy sector, financial markets, trade, and transportation. Agencies like the Federal Energy Regulatory Commission (FERC) and Securities and Exchange Commission (SEC). Predictably, the left is shouting, “Dictator!” They are in full meltdown mode. The right is arguing the 50+ “independent” agencies created by Congress (but nominally under the Executive Branch) are an unelected bureaucracy not accountable to anyone—not to the President, not to Congress, and not to the courts. 
Hold on, everyone. The NYMEX natural gas price roller coaster is climbing up the next hill, and there is no telling how high it will go—or how quickly it will go down again. Yesterday, the NYMEX “front month” (March contract) for natural gas futures based on the price at the Henry Hub soared 28.2 cents to close at $4.0070 (call it $4.01). It was the sixth day in a row that the price has gone higher. The current cold snap (weather) in the central and eastern sections of the country is credited with the rise in the price. NGI reports its nationwide average for the spot price of natgas soared $1.010 to $6.880, its highest level since Winter Storm Enzo in mid-January. 
According to a recent report from PJM Interconnection, the manager of the electric grid in all or parts of 13 states plus D.C., three electric transmission zones that are wholly or partly in Pennsylvania are expected to see sharp increases in power demand from current and new data centers in the next few years. For all three zones, PJM says the increase in demand will mostly come from existing and planned new data centers. The solution? Build more Marcellus-fired power plants to meet the demand. 
This is one of those “man bites dog” stories. It wouldn’t be news if a Virginia House of Delegates member who is Republican proposed allocating $15 million of taxpayer money to provide “road extension, grading, and natural gas pipeline extension” for a natural gas power plant and potential data center in Pulaski County, in rural Southwest Virginia. But it definitely IS news when a Democrat proposes it! 
During President Trump’s first term, he tried to change (tweak) the National Environmental Policy Act (NEPA) to strip away some of the governmental red tape that has built up over the years, like plaque in an artery, preventing important infrastructure projects like pipelines, dams, bridges, and roads from getting built (see 
Have you ever considered all the different goods and services required to plug an orphaned well? It’s a surprisingly long and complex list! You might think (as we did), “There’s an old well, pull up with a cement mixer, dump cement down the hole, and voila, it’s done.” Not so! The process begins with locating orphaned/abandoned wells, using drones and other equipment to sniff out leaking old wells, and attempting to ascertain ownership (land records, title searches, etc.). Then, there’s preparing the site (permits required), doing the work, and monitoring after it’s done. It’s a looooong list. 
The Tennessee Valley Authority (TVA) is a federally-owned electric utility corporation in the U.S. TVA’s service area covers all of Tennessee, portions of Alabama, Mississippi, and Kentucky, and small areas of Georgia, North Carolina, and Virginia. TVA is the sixth-largest power supplier and the largest public utility in the U.S. In 2021, MDN told you that TVA is spending over $1 billion to replace six coal-fired plants with natgas-fired turbines (see 
MDN chronicled the rise and fall of Tellurian, founded by Charif Souki (who also founded Cheniere Energy), and Tellurian’s LNG export project, Driftwood. Tellurian’s primary focus was to build Driftwood LNG, a 27.6 million tonnes of LNG per year facility that would cost $14.5 billion. Construction began on the project in March 2022, even without a final investment decision (see 
Well, look at this. After liquefying and exporting over 350 cargoes of LNG from March 1, 2022, through January 2025, Venture Global says its Calcasieu Pass (CP) LNG export facility is finally “ready” to begin “commercial” operations….on April 15th of this year. Nearly three years after it began shipping LNG. Venture Global has claimed the CP facility was not commercially ready until now. 
Newly-confirmed Secretary of Energy, Chris Wright, appeared virtually before the ARC Conference in London yesterday. ARC stands for The Alliance for Responsible Citizenship, an international movement with a vision for a better world where empowered citizens take responsibility and work together to bring flourishing and prosperity to their families, communities, and nations. The ARC organization tilts right. During a Q&A interview, Wright shared some fantastic truths, among them: “Net zero 2050 is a sinister goal, it’s a terrible goal.” He also said that countries that set net zero goals “export your industry.” And net-zero “is not energy transition” but instead “is lunacy.” Three cheers for Chris Wright! 
Never in our wildest dreams did we see this one coming. And we must caution against too much hope. However, we are JAZZED. Last Friday, President Trump signed yet another executive order. This EO creates the National Energy Dominance Council, directing the new council to move quickly to increase domestic oil and gas production (see our companion post today for details). During comments with reporters at the EO signing, Trump vowed to complete the long-dead Pennsylvania Marcellus to New York State Constitution Pipeline! Trump’s own words: “We are going to get this done, and once we start construction, we’re looking at anywhere from nine to 12 months.” Holy smokes!!!! 
President Trump signed an executive order Friday establishing the National Energy Dominance Council. The Council will be chaired by Secretary of the Interior Doug Burgum and vice-chaired by Energy Secretary Chris Wright. The other members are essentially all of the cabinet members, the secretaries of the other executive branch agencies, including State, Treasury, Defense, Justice, Agriculture, Commerce, Transportation, EPA, and a litany of others. Among the instructions (duties) of the new Council is this: “Advise the President on how best to exercise his authority to produce more energy to make America energy dominant.” During a confab with reporters, President Trump said, “We have more energy than any other country, and now we’re unleashing it.” The council will advise the president on energy markets, investments, and how to keep the cost of energy down for Americans.