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US ENERGY UPDATE | January 13, 2024 View this email in your browser
Natural Gas Prices Jump More Than 400%
Ahead of Texas Cold Blast
Natural gas prices shot up more than 400% as a deep freeze is set to hit Texas, potentially sending demand for the heating fuel soaring.
Spot prices for the key US Henry Hub in Louisiana for the long holiday weekend period rose as high as $17 per million British thermal units Friday, trading in a range of $15-$17, according to market participants with knowledge of the matter who asked not to be named because the information is private. That compares with more than $3 for the most actively traded futures, which are for delivery next month.
Blockbuster Natural-Gas Merger Is Almost Too Perfect
Chesapeake Energy’s merger with Southwestern Energy SWN would create the largest natural-gas-focused producer in the U.S. It also creates an investment story that is so compelling that it comes with risks of its own.
Exxon Leaves Oil Lobbying Group Over Climate Differences
Exxon Mobil has ended its membership with the Independent Petroleum Association of America, a trade group known for aggressively opposing government attempts to rein in the oil industry, in part due to a disagreement over climate policy.
The oil giant announced its split with IPAA in a 2022 climate lobbying review, which hasn’t been previously reported. The company Monday quietly posted online the shareholder-requested analysis.
Qcells’ Georgia Plant Offers New Hope for American-Made Solar
When the solar panel giant Qcells opened its first Georgia factory in Dalton in 2019, it represented a significant leap forward for domestic clean energy production.
In an industry long-dominated by China, Qcells’ Dalton plant — the largest facility of its kind in the Western Hemisphere — represented the biggest single effort yet to establish solar manufacturing roots in the U.S.
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