Newsletter No. 148
Good afternoon,
As the year gains momentum, the energy markets aren’t wasting any time. From shifting global oil flows to surging power demand, here are the key oil and gas headlines driving the conversation, plus what’s happening at King.
This Week's Headlines
- AI’s Power Hunger Lifts U.S. Energy, and Oil & Gas, Into the Spotlight
- China’s Venezuelan Oil Imports Poised to Plunge as Blockade Chokes Flows
- Trump Administration Moves to Speed Up Energy Project Approvals
- Upcoming Educational Webinar: The 2026 Outlook with John Mauldin: Markets, Energy and Venezuela’s Impact
- Energy, Leadership, and the Inner Game: Opening 2026 on The Jay Young Show
- U.S. Oil Wildcatters Signal Readiness to Return to Venezuela
Oil and Gas News
AI’s Power Hunger Lifts U.S. Energy, and Oil & Gas, Into the Spotlight
Investors still believe AI will keep growing, but instead of just betting on big tech companies, many are now investing in the energy needed to run AI. BlackRock says power providers are the top AI-related investment for 2026 because data centers require enormous amounts of electricity, and the U.S. power grid isn’t keeping up. Goldman Sachs estimates data center electricity demand could jump 175% by 2030, raising the risk of power shortages. For U.S. oil and gas operators, this is a major opportunity: natural gas is the most reliable way to generate electricity at scale, meaning stronger long-term demand, more gas-fired power plants, and increased interest in energy infrastructure. In short, as AI grows, oil and gas are increasingly seen as essential to keeping the lights on.
China’s Venezuelan Oil Imports Poised to Plunge as Blockade Chokes Flows
China is set to see a sharp drop in oil shipments from Venezuela in February, with imports estimated at only about 166,000 barrels per day, down significantly from roughly 642,000 bpd in 2025, as a U.S. blockade limits cargoes leaving Venezuelan waters. The blockade, part of recent U.S. actions following political upheaval in Venezuela, has forced many tankers to turn back or avoid departure, leaving only a handful still bound for China.
While Chinese refiners have built inventories that ease immediate supply pressure, the disruption could force independent buyers to seek alternative crude sources if Venezuelan flows remain constrained. Overall, this marks a significant reduction in Venezuelan crude going to China, a key customer, with implications for trade patterns and refinery sourcing in coming months.
Trump Administration Moves to Speed Up Energy Project Approvals
The Trump administration is proposing a rule change that would make it harder for states to block or delay energy projects like pipelines and power plants. The change would roll back a Biden-era policy that gave states more power to stop projects over water pollution concerns. Federal officials say the new rule will shorten approval timelines and make the process more predictable, helping energy and infrastructure projects move forward faster. Supporters say it prevents states from using environmental rules to stall projects, while critics argue it weakens protections for waterways.
Happening at King
Energy, Leadership, and the Inner Game: Opening 2026 on The Jay Young Show
In this week's episode of The Jay Young Show, my co-host Jordan Soto and I open 2026 with a wide-ranging conversation at the intersection of energy markets, leadership psychology, and personal discipline. We discuss the tools required to lead and live well in uncertain times. Our special guest is executive coach and clinical psychologist Yosi Amram, author of the book, Spiritually Intelligent Leadership: How to Inspire by Being Inspired. Don't miss this enlightening episode.
Watch it on LinkedIn, Rumble and YouTube (@JayRYoungOfficial).
Moves to Watch
U.S. Oil Wildcatters Signal Readiness to Return to Venezuela
According to a story in Hart Energy's newsletter, several prominent U.S. oil producers and energy executives say they are ready to invest in and drill in Venezuela following President Trump’s move to remove Nicolás Maduro and push for renewed energy development in the country. Independent oil operators, major producers, service companies, pipeline operators, refiners and traders told Trump they are prepared to move quickly if a stable legal and financial framework is put in place. While Venezuela holds vast oil reserves, companies say success will depend on secure property rights, reliable payments and rebuilt infrastructure. Many see opportunity but stress that long-term investment will only happen if political and regulatory risks are addressed.
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All the best,
Jay
