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** Daily Energy News ┃ 07/01/26
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Welcome to In The Pipeline, your trusted source for daily energy news.
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** Great to see investors warming up to reliable, affordable sources of energy.
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Trading View ([link removed]) (7/1/26) reports: "The US is pouring money into fossil fuel power generation at a pace not seen in a generation. The International Energy Agency projects that American spending on coal and gas power plants will reach $50 billion this year, a figure that reflects the country's scramble to keep the lights on as electricity demand skyrockets. According to the IEA's World Energy Investment 2026 report, Final Investment Decisions for new gas-fired power plants in the US are expected to reach their highest levels in 25 years. Globally, orders for new natural gas-fired power plants hit 130,000 MW in 2025, with the US and the Middle East leading the charge. The IEA's broader global outlook puts total energy investment at $3.4 trillion, with the electricity sector commanding a massive share of that capital. US fossil fuel power investments are
forecast to surpass China's by 2026. That would be the first time in decades that America outspends Beijing on coal and gas generation. On a global scale, the IEA estimates coal power investment at roughly $70 billion, while natural gas exceeds $100 billion. The IEA expects data center-driven energy consumption to continue climbing through 2030. Natural gas fills the gap between immediate power demand and slower-to-build alternatives. It is dispatchable, relatively quick to build compared to nuclear, and pairs well with intermittent renewables as a backup source."


** This one is for the one or two people left in the peak oil crowd.
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OilPrice.com ([link removed]) (6/30/26) reports: "The world's most important oil benchmark is about to experience an identity crisis. For the first time since records began, no Brent crude cargoes are scheduled to load in August, according to Reuters calculations based on loading programs and LSEG data. In other words, the benchmark that gives Brent crude its name is slowly disappearing. That's not because Brent is losing relevance. Quite the opposite. Brent still underpins pricing for more than 60% of internationally traded crude. The problem is that the original Brent field has simply been producing less and less oil for decades. What's left of Brent itself now averages just 23,000 barrels per day this year. This is roughly one cargo per month and less than a quarter of the production seen a decade ago. The benchmark has been reinventing itself for years. Today's Dated Brent is no longer just
Brent. It also includes Forties, Oseberg, Ekofisk, Troll, and, since 2023, U.S. WTI Midland. That slow shift has kept the benchmark liquid even as the namesake crude transitions into a historical footnote. 'What is left of Brent is just a brand name,' veteran oil trader Adi Imsirovic told Reuters. He's probably right. The crude may eventually disappear altogether, but the benchmark isn't going anywhere. In fact, recent events in the Middle East have reinforced just how important North Sea barrels remain. During the Strait of Hormuz crisis, refiners scrambled for any crude that didn't require sailing through one of the world's most dangerous waterways. North Sea grades, particularly Forties, became some of the most sought-after barrels on the planet, with physical cargoes trading at unprecedented premiums over Brent futures as buyers paid whatever it took for immediate, accessible supply. That premium has eased as stranded Gulf cargoes have gradually begun leaving the Persian Gulf. But
accessibility remains the operative word. Despite the U.S.-Iran ceasefire, tanker traffic through Hormuz remains well below pre-war levels, with Iran still exercising discretion over vessel movements. Physical markets continue to reflect that uncertainty even as futures have retreated. Years of declining production, record-low exploration, punitive taxation, and a ban on new licensing have pushed one of the world's great oil provinces into managed decline."


** 🎶 B-b-b-baby, you just ain't seen n-n-n-nothin' yet 🎶
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Mining Weekly ([link removed]) (7/1/26) reports: "HOUSTON - US crude oil production rose to 13.93-million barrels per day (bpd) in April, the highest on record, monthly data from the Energy Information Administration (EIA) showed on Tuesday, as producers ramped up output in response to higher oil prices owing to the Iran war. Production rose by 216 000 bpd in April, EIA data showed, with production in New Mexico touching a record high of 2.37-million bpd. Crude production in Texas edged 36 000 bpd higher to 5.83-million bpd, the highest since November. Texas and New Mexico are home to the Permian Basin, which accounts for roughly half of US crude output. Output from North Dakota, the third-largest producing state, also rose to 1.13-million bpd, the highest since November. US crude futures were trading around $70 a barrel. They had traded as high as $119.50 in March. US gross natural gas production
eased to 135.3-billion cubic feet per day (bcfd) in April from 135.4 bcfd in March and a record 136 bcfd in December. In top gas-producing states, monthly output in April rose 0.2% to a record 38.8 bcfd in Texas, but fell 1.1% to 21 bcfd in Pennsylvania, the EIA said. That compares with a monthly all-time high of 38.7 bcfd in March in Texas and 21.9 bcfd in December 2021 in Pennsylvania. US crude and products supplied overall grew in April to 20.81-million barrels per day, the highest level since February, the data showed, with supplies of finished motor gasoline, a proxy for demand, rising to 9.12-million, the highest in eight months."

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** They're still mad at us for the Louisiana purchase...
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Daily Caller ([link removed]) (6/30/26) reports: "A European politician lectured 'American journalists' and 'influencers' on climate change after some had pointed out her country’s relative lack of air conditioning. Paris Deputy Mayor Audrey Pulvar, herself a journalist, wrote in a Friday post to Instagram that Americans 'bear a significant responsibility' for the 'consequences' of global warming, days after the French capital experienced a significant heat wave. 'Dear American journalists and social media influencers: for days some of you have been criticizing and making fun of Paris, because they city doesn’t have AC in every room of every apartment and places. OMG, this is so rich,' Pulvar wrote. 'As the second-largest emitter of greenhouse gases in the world, you bear a significant responsibility for global warming and the consequences we, in France, are experiencing Your cities, '90% air-conditioned,' are not
unrelated to this. In Paris, we take responsibility,' the deputy mayor continued. Pulvar’s post did not mention China, the world’s largest emitter of greenhouse gasses. Many Europeans visiting the U.S. for the 2026 FIFA World Cup observed that air conditioning in the country is significantly more widespread than back home. This has caught the attention of many Americans."


**

"At 250, America is still a country that does seemingly impossible things. The Paleogene in the Gulf of America is proof."
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– Erik Milito, National Ocean Industries Association ([link removed]) [link removed]


** Trendline
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The 250-year history of U.S. energy consumption from EIA. ([link removed])


** New From Energy Townhall ([link removed])
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** Why bother with air conditioning when a gazpacho will do just fine. Tom and Mike weigh in on the hot-button issues of the week on the latest episode of The Unregulated Podcast. Now streaming on our website ([link removed]) , or wherever you listen.
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** American natural gas is fueling the AI revolution.
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AEA ([link removed]) (6/30/26) article: "Chevron plans to reach a final investment decision later this year on a power plant that would use natural gas to supply Microsoft’s 2.7-gigawatt Project Kilby AI data center in Reeves County, Texas, under a 20-year agreement. The final investment decision will be made after the project receives all its permits, expected later this year. The Project Kilby data center would start receiving power in late 2028, and a fuller build-out would continue into the 2030s. Most of the electricity will come from large gas turbines supplied by Chevron’s partner, GE Vernova, with additional turbines provided by Caterpillar. The power will initially supply just the data center and will not be connected to the electric grid. Any excess power, however, will be provided to stabilize the grid when it connects to the grid at a later date, according to Jeff Gustavson, president of Chevron
New Energies. Construction has not yet started on the data center. Chevron is working with Joulent, an energy company launched by investment firm Engine No. 1, to build a power-generation complex to supply the data center with natural gas produced from Chevron’s fields in the area. The collaboration between Chevron and Joulent is their first big AI data center project. The 2.7 gigawatt center would be housed on more than 2,000 acres in the heart of the Permian Basin oil-and-gas field. The site is located about 20 miles south of Pecos, where Chevron has been producing oil and gas for years. Wait times for grid-connected electric service can be five to seven years in many places. Because data centers need faster access to electricity, the concept of “Bring Your Own Power (BYOP)” provides faster access and avoids cost impacts on other ratepayers. About a quarter of all data center capacity under development plans to build their own power on-site. Data provider Cleanview is tracking 59 of those
data centers with a combined capacity of about 90 gigawatts. The Trump Administration has encouraged companies to pursue this route where possible, to speed construction and deployment of infrastructure."


** Energy Markets
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WTI Crude Oil: ↓ $68.37
Natural Gas: ↓ $3.22
Gasoline: ↓ $3.84
Diesel: ↓ $4.84
Heating Oil: ↓ $320.52
Brent Crude Oil: ↓ $71.33
US Rig Count ([link removed]) : ↓ 622


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