OTHER U.S. REGIONS: PROPWR secures distributed microgrid contract with Coterra Energy; Colorado residents face high energy bills after regulators turn away from natural gas; NATIONAL: U.S. natural gas futures post hefty weekly loss; How billionaire Wes Edens’ big energy dream hit the rocks; A new approach to carbon capture could slash costs; EIA forecasts U.S. crude oil production will decrease slightly in 2026; Energy secretary predicts that electricity prices will stop rising ‘very soon’; INTERNATIONAL: Oil drifts lower despite geopolitical tensions; OPEC data points to balanced global oil market in 2026; Timor-Leste rejects climate hysteria, embraces development; What if pursuing carbon-free electricity does more harm than good?; Oil executives once booed Canada’s prime minister – now they cheer him; Panic-stricken climate alarmists resort to bolder lies.

PROPWR secures distributed microgrid contract with Coterra Energy
ProPetro Holding Corp.
PROPWR, a division of ProPetro, has secured a contract with Coterra Energy to provide turnkey power for distributed microgrids in the New Mexico Permian Basin, scheduled to begin in Q1 2026. This agreement pushes PROPWR’s committed capacity over 220 megawatts. To support growth, the company ordered an additional 190 megawatts of equipment, bringing its total delivered or on-order capacity to approximately 550 megawatts. Consequently, PROPWR raised its 2026 capital expenditure guidance to $250–$275 million and is negotiating a $350 million lease finance facility, aiming to reach one gigawatt of capacity by 2030. [MDN: It would be nice to see Coterra begin to use this technology in the M-U, too.]

Colorado residents face high energy bills after regulators turn away from natural gas
Denver (CO) Gazette
Based on the article from The Denver Gazette, Colorado residents face significantly higher energy bills following a state Public Utilities Commission order requiring utilities to cut carbon emissions by 41% by 2035. This mandate necessitates shifting approximately 600,000 customers from natural gas to electric heating, a transition experts estimate could cost over $12 billion. While environmental advocates support the move, utility executives and critics warn the costs will fall heavily on ratepayers, disproportionately affecting low-income households. Concerns also remain regarding the unrealistic 10-year timeline, the reliability of the electric grid, and the lack of consumer demand for expensive retrofits. [MDN: You keep electing radicalized Democrats to lead you, and this is what you get. Do voters never learn?]

U.S. natural gas futures post hefty weekly loss
Wall Street Journal
U.S. natural gas futures post their biggest weekly loss in three years as the market pulls back from a weather-driven high. Nymex gas settles at $4.113/mmBtu, down 22% from $5.29 a week ago. Last week’s spike came as early December sees some of its coldest weather in years, although forecasts have turned milder for the second half of the month. “We had no business being up there,” says long-time natural gas trader John Woods. “People got caught up top. They expected a follow-through and it didn’t happen.” Prices in the low $4s look appropriate following the correction, Woods says. But “with January coming around you’re not selling below $4. You could wind right back up there if we get one of those polar vortexes like we had years ago.” [MDN: Hey, at least we’re still in the $4s. That’s a good thing. We didn’t expect the price to stay in the $5s, although it was nice while it lasted.]

How billionaire Wes Edens’ big energy dream hit the rocks
Bloomberg
Billionaire Wes Edens’ New Fortress Energy (NFE) faces financial peril as its “Fast LNG” strategy—designed to revolutionize gas exports—founders under execution failures. NFE stock plummeted from $60 to nearly $1 following construction delays, massive cost overruns, and an explosion at its Altamira terminal. Investors have filed a class-action lawsuit alleging Edens misled markets about progress, while creditors circle the company’s $9 billion debt load. Although Edens is negotiating restructuring options to avoid bankruptcy and maintains optimism, the company has shelved further “Fast LNG” expansion plans. [MDN: Too bad. NFE was the company behind the plan to export LNG from a plant in northeastern PA via a new NJ loading dock in the Delaware River. The company is fighting for its life and, we suspect, not even thinking about LNG exports from NEPA.]

A new approach to carbon capture could slash costs
Massachusetts Institute of Technology
MIT chemical engineers have developed a more efficient, affordable carbon capture method by adding a common compound, “tris,” to standard potassium carbonate solutions. This additive acts as a pH buffer, allowing the solution to absorb three times more carbon dioxide. Crucially, the system releases the trapped gas at just 60°C (140°F), significantly lower than the 120°C required by traditional amine-based methods. This efficiency allows the process to run on renewable energy or industrial waste heat. Researchers state this “drop-in” technology can be easily implemented in existing facilities, offering a scalable solution for heavy industries to reduce emissions. [MDN: Whatever. We’re tired of talking about carbon capture, a useless technology that solves a non-existent problem.]

EIA forecasts U.S. crude oil production will decrease slightly in 2026
U.S. Energy Information Administration – Today in Energy
The latest Short-Term Energy Outlook predicts U.S. crude oil production will average 13.5 million barrels per day (b/d) in 2026, a 100,000 b/d decrease from 2025 levels. This anticipated dip marks the end of a four-year growth trend, which was primarily driven by output from the Permian Basin. While the Permian, Alaska, and the Gulf of Mexico are expected to see modest gains in 2026, these increases will be offset by production declines in other U.S. regions. Concurrently, West Texas Intermediate crude prices are forecast to fall significantly, dropping from a 2024 average of $77 per barrel to $65 in 2025 and $51 in 2026. [MDN: If crude prices do fall that far in 2026, the oil industry will need to figure out how to make a profit, or maybe just quit pumping for a while. As economists often say, the cure for low prices is low prices.]

Energy secretary predicts that electricity prices will stop rising ‘very soon’
Washington (DC) The Hill
Energy Secretary Chris Wright predicts electricity prices will soon stop rising and eventually decline under the Trump administration’s “energy addition” policies. Speaking on “Fox News Sunday,” Wright acknowledged recent 5.1% price hikes and EIA projections of increased costs next year but argued that slashing regulations and cutting green energy funding will reverse the trend. He distinguished the complex electricity sector from fuel markets, which have already seen relief, attributing future success to pro-energy strategies that prioritize production over the previous administration’s policies, despite record oil output occurring during the Biden era. [MDN: It takes a few months for policies to take effect. It took Biden four years to destroy our economy—it’s going to take some time to revive it. It’s coming. Hang tight.]

Oil drifts lower despite geopolitical tensions
Bloomberg
Oil prices edged lower in choppy holiday trading, with West Texas Intermediate falling to its lowest level since May at $57.44 and Brent crude dipping to $61.12. The decline was primarily driven by weakness in US equity markets, a slump in diesel futures, and growing consensus regarding a supply surplus next year, which the International Energy Agency warns could be unprecedented. Despite this bearish sentiment and thin trading volume, losses were capped by geopolitical tensions. These included new US sanctions and tanker seizures targeting Venezuela to pressure President Maduro, as well as ongoing Ukrainian attacks on Russian oil assets, which continue to provide a psychological price floor. [MDN: If Brent falls below $60, that is an important psychological barrier. We’re not bothered by it. We’d prefer to see it stay in the $60s, but upper $50s is OK, too.]

OPEC data points to balanced global oil market in 2026
Bloomberg
OPEC forecasts a balanced global oil market for 2026, estimating that the cartel and its allies must maintain current production levels of 43 million barrels daily to meet demand. This optimistic outlook sharply contrasts with prevailing industry expectations from the International Energy Agency and traders like Trafigura, who predict a significant supply surplus or “super glut.” Despite the secretariat’s projection, key OPEC+ members led by Saudi Arabia have paused planned output increases for the first quarter due to market fragility. Additionally, OPEC’s forecasting credibility remains under scrutiny following a history of overly bullish predictions that later required significant downward revisions. [MDN: If you learn any lesson about the thug dictators of OPEC+, let it be this one…watch what they do, not what they say.]