Newsletter No. 150
Good afternoon,
This week’s cold weather has brought energy markets into sharp focus, driving spikes in demand and renewed attention on supply resilience. From fuel availability to grid performance, these are the headlines influencing oil and gas markets today, plus the latest from King.
This Week's Headlines
- WTI Crude Jumps Above $65 as Geopolitical Tensions Drive Oil Higher
- Shell & BP Push for U.S. Approvals to Tap Venezuela-Trinidad Gas Reserves
- Oil & Gas Owners Sue California Over Drilling Ban Near Homes
- Hollywood Reality Check: Actor Todd Sandler on Auditions, Rejection & Staying Relevant
- Baker Hughes Bets Big on Power as Demand Surges
Oil and Gas News
WTI Crude Jumps Above $65 as Geopolitical Tensions Drive Oil Higher
Oil prices climbed sharply amid rising U.S.–Iran tensions, with Brent crude breaking above $70 per barrel and West Texas Intermediate (WTI) climbing past $65 as traders priced in a geopolitical risk premium despite no immediate supply disruptions. Markets reacted to heightened rhetoric and naval deployments in the region, driving both benchmarks to multi-month highs as investors weighed the threat of possible supply interruptions.
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Shell & BP Push for U.S. Approvals to Tap Venezuela-Trinidad Gas Reserves
Major energy companies Shell and BP are applying for special U.S. government licenses that would allow them to develop large natural gas fields shared between Venezuela and Trinidad and Tobago. These fields sit partly in Venezuelan waters and partly in Trinidad’s, and because of ongoing U.S. sanctions on Venezuela, companies need permission from the U.S. before doing major work there.
Shell is focused on a big field called Loran-Manatee, which holds an estimated 10 trillion cubic feet of gas, while BP wants to work on the Cocuina-Manakin field. Trinidad and Tobago, a leading LNG exporter, hopes these developments help boost gas supplies that have lagged in recent years.
Their push for U.S. approval comes amid shifts in U.S. policy toward Venezuela’s energy sector, including recent moves to allow more foreign investment and project activity after earlier license revocations.
Oil & Gas Owners Sue California Over Drilling Ban Near Homes
Oil and gas royalty owners are suing California over a state law that blocks new oil and gas wells near homes, schools and hospitals. The law creates a 3,200-foot buffer zone, which the plaintiffs say makes much of their mineral property worthless.
The lawsuit argues that California is taking private property without paying for it, which they say violates the U.S. Constitution. State officials defend the law, saying it protects public health by keeping people, especially children, away from harmful emissions.
The lawsuit argues that California is taking private property without paying for it, which they say violates the U.S. Constitution. State officials defend the law, saying it protects public health by keeping people, especially children, away from harmful emissions.
Happening at King
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Hollywood Reality Check: Actor Todd Sandler on Auditions, Rejection & Staying Relevant
In this week's episode of The Jay Young Show, I look back at a conversation that feels even more relevant today, a candid, behind-the-scenes look at what it really means to build a career in Hollywood. I sat down with Todd Sandler, a true working actor whose career spans theater, television and film.
From his early theater roots in Chicago to landing roles on iconic shows like Everybody Loves Raymond and Glee, Todd shares what life looks like beyond the spotlight. This episode pulls back the curtain on what auditions are really like, how actors prepare for and handle rejection, how the industry has changed post-COVID and post-strike, and why fame, success and longevity look very different in today’s digital world.
Todd also shares hilarious behind-the-scenes stories, including dodging popcorn kernels on set with Jim Belushi, and we bonded over our shared love of golf, including a memorable round in Telluride.
King SVP Rachel Griffith and I finish up with my Weekly Five, anchored by the Word of the Week: Progress. Don't miss this amazing episode.
Watch it on LinkedIn, Rumble and YouTube (@JayRYoungOfficial).
Moves to Watch
Baker Hughes Bets Big on Power as Demand Surges
Baker Hughes is shifting more of its business toward power generation, betting that soaring electricity demand, from AI data centers, industry, transportation and cleaner energy projects, will drive growth for years to come.
Last year, the company booked over $2.5 billion in power-related orders, including about $1 billion tied to data centers, and it sees the global power market growing to more than $100 billion by 2030. This helped boost profits, even as its traditional oilfield services business slowed.
In simple terms: the world needs a lot more electricity, grids can’t keep up fast enough, and Baker Hughes is positioning itself to supply reliable, flexible power systems, especially gas turbines that can also run on cleaner fuels like hydrogen. The company believes power, not just oil and gas, will be a major long-term growth engine.
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All the best,
Jay
