NJ BPU Commissioner Calls Out Dems for Failed Energy Policies
According to a former New Jersey Board of Public Utilities commissioner who was first appointed by Republican Gov. Chris Christie and later reappointed by Democrat Gov. Phil Murphy, New Jersey’s energy policy has “gone off the rails” due to the lack of fact-based planning. The former commissioner, Mary-Anna Holden, should know. She’s someone with a front-row seat to the state’s energy operations. In an op-ed, Holden says ratepayers in the Garden State are paying sky-high electricity prices due to an over-reliance on intermittent (unreliable) renewable energy sources, including solar and wind. Read More “NJ BPU Commissioner Calls Out Dems for Failed Energy Policies”
The Japanese certainly want to stay on the good side of Donald Trump regarding trade. Yesterday, JERA Co., Inc., Japan’s largest power generation company, joined U.S. Secretary of the Interior Doug Burgum and Energy Secretary Chris Wright (the Chair and Vice Chair of the National Energy Dominance Council, respectively), along with Shigeo Yamada, Ambassador of Japan to the United States, to announce that the company has finalized several 20-year agreements to procure up to 5.5 million tonnes per year (MTPA) of LNG from the United States. 
Even though gas-fired power is the #1 source of electric power generation in the U.S., almost no new combined-cycle gas-fired power plants came online in the U.S. in 2024. That’s about to change. The U.S. Energy Information Administration (EIA) reports that 4.3 gigawatts (GW) of new gas-fired power is currently under construction, and developers have announced plans to add 18.7 GW of combined-cycle capacity to the grid by 2028. However, gas-fired power still trails unreliable renewables in planned power additions, illustrating the power of mass brainwashing of the public. 
NATIONAL: Kimmeridge cements plan to build integrated natural-gas company; EPA to save more than $1B per year after scrapping Biden-era emissions standards; INTERNATIONAL: Oil surges as USA orders partial evacuation of Iraqi embassy; Rising Asia temperatures bode well for US LNG export prospects. 
The Ohio Department of Natural Resources (ODNR) recently released production numbers for the first quarter of 2025. The top natural gas producer in the state, by far, was Ascent Resources, with 195,139,574 Mcf (or 195.14 Bcf) of production during the quarter, which works out to an average of 2.17 Bcf/d. Ascent’s production accounted for 40% of the state’s natural gas production. The top oil producer in the state, by far, was Encino Energy, with 5,360,199 barrels of oil during the quarter, which works out to an average of 59,557 barrels per day. Encino’s oil production was 49% (nearly half!) of Ohio’s entire oil production during 1Q25. Of course, Encino’s days as a standalone producer are numbered as EOG Resources is buying the company. 
This is funny, and sad. Yesterday, we brought you the news that Amazon has pledged to spend at least $20 billion to build multiple data centers in Pennsylvania (see 
The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook yesterday, the agency’s monthly best guess about where energy prices and production will go in the next 12 months. In this latest assessment, EIA once again dropped its estimates for the Henry Hub spot price for 2025. The agency expects the HH price to average $4.00 per million British thermal units (MMBtu) in 2025, $0.10 lower than last month’s forecast (and $0.30 less than the forecast from two months ago). However, EIA expects the annual average price in 2026 to be $4.90/MMBtu, which is $0.10 higher than last month’s forecast and $0.30 higher than the forecast from two months ago. An interesting dichotomy—that prices will trend lower this year but higher next year. 
Banks remain confident in long-term energy fundamentals despite significant trade policy turbulence, according to the Spring 2025 Haynes Boone Energy Bank Price Deck Survey (full copy below). The survey, now in its 12th edition, is a leading source of information for energy lenders and producers, providing crucial details on commodity price expectations. Based on internal data from 28 banks, the latest survey indicates that while oil and gas prices have fluctuated in the short term, long-term forecasts remain consistent with past projections, suggesting that banks view recent economic changes as temporary. Banks expect natural gas prices to stay strong, in the $3.50-$3.75/MMBtu range through 2026, due to high LNG export demand and growing energy needs from artificial intelligence infrastructure. 
Here’s a third natural gas price prediction, from Morningstar DBRS, a top company that gives independent credit ratings and opinions for businesses, governments, banks, and financial projects worldwide. Earlier this week, Morningstar published a commentary/report called: “Summer Heat Likely to Add to High LNG Export Demand, Tightening the North American Gas Market” (full copy below). In the report, Morningstar analysts write that they expect the North American natural gas supply and demand balance to tighten from summer heat-driven peak electricity demand and expanding LNG exports, supporting higher bids for spot gas prices. Analysts believe the average price for natural gas will hit $3.50/MMBtu both in 2025 and in 2026. 
U.S. LNG feedgas demand slipped last week to its lowest level since mid-December due to ongoing maintenance at the Sabine Pass and Cameron LNG export facilities along the Gulf Coast. Two trains were offline at Sabine Pass, and one train was offline at Cameron, resulting in feedgas demand of 13.28 Bcf/d for the week (down 7% from the previous week). In something of a miracle, Freeport LNG was online with all trains producing! 
The MVP (Mountain Valley Pipeline) Southgate project won a major decision in the U.S. Court of Appeals for the District of Columbia (DC Circuit), affirming a decision made by the Federal Energy Regulatory Commission (FERC) to allow an extra three years to build the project. Southgate is an extension of MVP from its current termination point in Pittsylvania County, Virginia, into Rockingham County, North Carolina. Coincidentally (or not), a day before the DC Circuit’s decision clearing the way for the project, MVP filed a request with the NC Department of Environmental Quality for a permit to build the project in that state. 
Yesterday, Pennsylvania Governor Josh Shapiro took credit for brokering a deal that will see Amazon build at least three huge data centers (which Democrats typically dislike) in eastern Pennsylvania, investing $20 billion to do so. It is a huge coup 
The Iroquois Gas Transmission’s Enhancement by Compression (ExC) project will increase horsepower at three compression stations — two in New York and one in Connecticut — by an extra 125 MMcf/d, to flow more Marcellus/Utica gas into New York City and New England. The two NY compressor expansions include one in Dover and one in Athens. The CT compressor expansion is located in Brookfield. Another CT compressor will get minor upgrades (gas cooling, no extra compression) in Milford. The NY DEC approved the permits for the NY compressors with the condition that Iroquois pays a $1.5 million 
In early April, MDN brought you the exciting news that pipeline giant Williams, via its subsidiary, Will-Power, is planning to build two Utica/Marcellus gas-fired power plants in the New Albany International Business Park in Licking County, Ohio (see