Newsletter No. 82
Good afternoon,
Were you all able to watch history being made this morning when entrepreneur, pilot, and philanthropist Jared Isaacman and SpaceX engineer Sarah Gillis became the first private citizens to step outside a spacecraft? It’s inspiring to see private companies like Elon Musk’s SpaceX lead the Polaris Dawn mission, proving that space exploration is no longer just for governments—it’s becoming a reality for private citizens. This moment shows how innovation and ambition in the private sector are shaping the future, opening new frontiers for our country and pushing the boundaries of what’s possible. It was truly amazing to witness. Now, shifting focus to the oil and gas sector, I will update you on the latest news, including what’s happening here at King.
This Week’s Headlines
- U.S. Natural Gas Prices Expected to Jump in 2025
- Fewer Americans Want to Buy Electric Cars Due to Battery Worries
- EIA: Oil Prices Expected to Rise Above $80 as Demand Grows
-
Oil Prices Climb as Hurricane Threatens U.S. Gulf Coast
- Natixis Advisors Boosts Investment in Northern Oil and Gas to $3.07 Million
- Energy Transition Faces Challenges as Oil Demand Remains Strong
- A Special 9/11 Edition of The Jay Young Show
- The Rice Report: Rising Tensions, Economic Woes, and Crime Concerns
Global Oil & Gas News
U.S. Natural Gas Prices Expected to Jump in 2025
Natural gas prices in the U.S. could rise by 44% next year, with prices expected to average $3.20 per unit, compared to $2.22 this year. This increase is due to higher demand for U.S. gas exports and producers cutting back supply after an oversupply earlier this year. If this happens, it would be the biggest price jump since 2022.
Fewer Americans Want to Buy Electric Cars Due to Battery Worries
Interest in electric cars has dropped almost 15% since last year. A new survey shows that concerns about expensive battery replacements are now the biggest reason people are hesitant, overtaking worries about charging stations. Even though fewer people are worried about chargers and driving range, overall interest in electric vehicles has still gone down.
EIA: Oil Prices Expected to Rise Above $80 as Demand Grows
The U.S. Energy Information Administration (EIA) predicts oil prices will soon rise above $80 per barrel. Global oil demand is increasing, while supply growth is slower than expected, partly due to OPEC delaying plans to pump more oil. As a result, there’s less oil available than needed, which is likely to push prices up despite concerns about the global economy, especially in China.
Oil Prices Climb as Hurricane Threatens U.S. Gulf Coast
Oil prices increased by around 1% as a hurricane threatens to disrupt production and refining along the U.S. Gulf Coast, which accounts for 50% of the country’s refining capacity. Brent crude rose to $71.84 per barrel, and West Texas Intermediate (WTI) reached $68.71. You can see the up-to-the-minute numbers here.
Move to Watch
Natixis Advisors Boosts Investment in Northern Oil and Gas to $3.07 Million
Natixis Advisors LLC increased its investment in Northern Oil and Gas by nearly 24% in the second quarter, now owning shares worth $3.07 million. Other investors have also added to their holdings. While the stock price has dropped recently, analysts still rate the company as a “Moderate Buy.” Northern Oil and Gas, which focuses on oil and gas production in the U.S., has been growing its revenue and recently raised its quarterly dividend to $0.42 per share.
HAPPENING AT KING
Energy Transition Faces Challenges as Oil Demand Remains Strong
I recently wrote a blog explaining that despite the global push for renewables, our dependence on fossil fuels remains firm, with U.S. oil demand outpacing production. Realistic goals are essential to avoid shortages and rising costs. To read the full blog, visit here.
A Special 9/11 Edition of The Jay Young Show
The Jay Young Show co-host Jordan Soto and I were privileged to have best-selling author, entrepreneur and U.S. Army veteran Adam Coffey on The Jay Young Show yesterday. If you missed our live episode with him, you can catch the replay on YouTube, Rumble, or directly on our website. The episode is filled with inspiring conversation on leadership, business growth, and Adam’s unique 9/11 reflections.
macro-economic look
The Rice Report: Rising Tensions, Economic Woes, and Crime Concerns
In a recent special episode of The Rice Report, Eric Rice talks about growing problems like the Russia-Ukraine conflict, economic issues, and rising crime. He also looks at the recent GDP report and government spending, and suggests some investment strategies to help you manage these challenges.You can watch this and more episodes of The Rice Report on YouTube and Rumble.
Also, please let us know how we are doing at King Operating Corporation. Leave a review here.
Recommended Reads
Has Pakistan discovered ‘massive’ oil and gas reserves?
US power use expected to reach record highs in 2024 and 2025, EIA says
Oil Giant ADNOC Set to Make Formal $16-Billion Offer for Covestro
Thank you for your continued support, and if you have any questions for myself or any member of the King team, please don’t hesitate to reach out.
All the best,
Jay
