220 GW of New Powergen Projects Seek to Connect to PJM, Half Natgas
Although Pennsylvania Governor Josh Shapiro (J.S.) has just hired a lapdog to attack the PJM Interconnection grid as part of his campaign for president (see Shapiro Hires NRDC Attorney as Lapdog to Attack Utility Cos.), the grid manager is doing yeoman’s work to ensure there’s enough electricity flowing for the 67+ million people (from 13 states plus the D.C. swamp) to keep the lights on. PJM reports that under its new “first-ready, first-served approach” that prioritizes projects that are more advanced and better positioned to move forward, it has received 811 proposed new power generation projects, capable of generating 220 gigawatts of electricity, nearly half of which (106 GW) would come from natural gas-fired power plants. Read More “220 GW of New Powergen Projects Seek to Connect to PJM, Half Natgas”
New York’s electric grid faces its lowest reliability margins in recent history this summer, with only 417 MW available under baseline conditions, according to the New York Independent System Operator (NYISO). This critical situation stems from extreme weather, an aging generation fleet, and a lack of new dispatchable resources. NYISO’s annual Summer Reliability Assessment (copy below) says an extended heat wave of three days or more, with temperatures around 95 degrees, could result in a capacity deficit of -1,679 MW, increasing to -3,370 MW at 98 degrees, potentially leading to blackouts. NYISO can implement emergency measures like purchasing energy or voluntary curtailment to mitigate shortfalls, but the overall margin for error is extremely narrow. 
Following the February 28 closure of the Strait of Hormuz, global and U.S. natural gas prices have sharply diverged. The shutdown halted roughly 20% of global LNG supplies, primarily from Qatar, forcing Asian and European buyers to scramble for replacement cargoes. Consequently, European TTF and Asian JKM benchmark prices surged 35% ($14.80/MMBtu) and 51% ($16.02/MMBtu), respectively. In stark contrast, U.S. Henry Hub prices fell 9%. Because U.S. LNG export terminals are already operating at near-maximum capacity, producers cannot significantly increase exports to capture these high global prices. This leaves ample gas domestically, insulating the U.S. market from international price volatility. 
NATIONAL: U.S. natural gas futures await support from weather; Blame anti-fossil fuel crusade, not war for gas prices; Trump met with oil and gas executives as Iran war drags on, prices surge; The folly of funding direct air capture; INTERNATIONAL: Oil surges as Hormuz blockade bites; Russia says it has no plans to leave OPEC+; Trump readies for prolonged US blockade of Hormuz; UAE’s OPEC bombshell signals a new Middle East order; IPCC troubles – the latest from Bangkok; The US is back in charge of the oil industry; Why the UK and EU keep doubling down on net zero dogma. 
In February, MDN brought you the big news that Devon Energy is buying out and merging with Coterra Energy, paying $21.4 billion in Devon stock (see 
Yesterday, Pennsylvania Gov. Josh Shapiro announced $267 million in state funding for energy projects, including $31.5 million for CNX Green Ventures to capture coal mine methane at the Enlow Fork mine in Greene County. Funded through EPA Climate Pollution Reduction Grants, the RISE PA program supports industrial decarbonization. CNX plans to drill boreholes, capture methane from mine ventilation, and pipe it for processing and sale as remediated mine gas. 
Last May, MDN brought you the news that the Ohio Department of Natural Resources (ODNR) was laying the blame for a series of low-level earthquakes in southeastern Ohio on fracking at a shale well in Noble County (see 
Quick, send in the clowns. Don’t bother, they’re here.
This is really big news. Yesterday, we spotted an article in the Financial Times that the Abu Dhabi National Oil Company (ADNOC), which is the state-owned oil company of the United Arab Emirates (UAE), is planning to invest “tens of billions of dollars” to build a natural gas business in the U.S., as it accelerates efforts to diversify, as the Iran war disrupts the energy industry. We’re glad we held on to that story and kept it for today, because on the heels of that story, another, bigger one broke: The UAE is resigning from OPEC and OPEC+ as of Friday, May 1. That’s huge! 
In March, Hull Street Energy (HSE) entered an agreement to acquire two peaking power plants from Rockland Capital, LP, significantly expanding its Milepost Power portfolio (see 
Once again, Pennsylvania Governor Josh Shapiro is attacking the energy industry, this time setting his sights on utility companies that he falsely claims are “unfairly increasing their rates and needlessly raising costs for Pennsylvanians.” Shapiro has hired a radical National Resources Defense Council (NRDC) attorney to serve as his lapdog (Special Counsel for Energy Affordability) to attack utility companies, forcing them into bankruptcy, particularly by pressuring them to use unreliable renewables instead of cheaper fossil fuels. 
In February 2024, members of the South Carolina Public Service Commission approved a proposed project to build a 1,020-megawatt (MW) gas-fired power plant in the state’s Lowcountry, in Colleton County (see 
Twenty-three state attorneys general are demanding explanations from the top ratings agencies, Fitch, Moody’s, and S&P, regarding “ESG-driven” downgrades of fossil-fuel companies. They allege the agencies promote a radical climate agenda, weaponizing credit ratings with flawed methodologies to push woke ideology and UN-backed net-zero goals, rather than providing objective financial analysis. The AGs contend these downgrades contradict stated methodologies, reveal conflicts of interest arising from pledges to integrate ESG, and penalize American energy while potentially favoring entities such as Chinese-owned companies. 