Research Notes

Tidal Wave

A tidal wave of new natural gas transmission pipelines throughout the United States could lead to record increases in US natural gas production over the next five years. 104 natural gas transmission pipeline projects are planned or under construction across the United States.

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Drill More, Pay More

Welcome to the “drill more, pay more” era. The United States has entered a new energy paradigm characterized by rising domestic energy prices alongside rising energy production. Despite record high natural gas production levels, US wholesale natural gas prices (Henry Hub) increased 93% compared to the same period last year. Natural gas prices have more than doubled (up 119% as of April 11. 2025) since election day. US natural gas prices are expected to remain high in 2025 and increase through 2026, despite steadily rising production levels.

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