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Hello Power Up readers,

Ron's off for a few days so I'm back on deck with the latest major energy news & analysis. First up, oil prices are at 6-month highs on jitters about potential military conflict between the U.S. and Iran. Reuters has got rolling coverage of that linked under the top energy headlines below.

Elsewhere, participants across the U.S. energy sector - from investors and plant workers to utility planners and coal miners - are still getting to grips with what the repeal of the so-called Endangerment Finding means. We'll dig into that below. 

And while booming exports of U.S. LNG are central to the U.S. energy dominance narrative, the rapid rise in natural gas demand from LNG exporters may drag the sector into the ongoing cost-of-living debate, with tighter gas supplies and higher gas prices feeding through to record high electricity bills. See below for more.

Here are a few more major energy stories & columns:

As always, don't hesitate to contact me at gavin.maguire@thomsonreuters.com or follow me on LinkedIn with any questions or thoughts.

The repeal of the Endangerment Finding impacts a slew of industries from car makers to power generators to chemicals producers. REUTERS/Carlos Barria

The scrapping of U.S. federal climate regulations has upended energy investor narratives that have prevailed so far this decade, and is sparking a re-think on which sectors might now win and lose in the U.S. energy space.

The repeal of the so-called Endangerment Finding removes the legal basis for federal regulations of greenhouse gas emissions and a swath of other rules governing pollution standards and driving uptake of clean energy technologies.

Imminent court challenges look likely to muddy the waters on what the repeal means for various sectors over the near term, with regulators, utilities, companies and communities all working out how to cope with any ensuing regulatory vacuum.

That said, some rough outlines can be drawn on which sectors may benefit and which may suffer setbacks now that the previous federal rules on pollution standards are at least watered down for the foreseeable future. Read today's column for more...

U.S. exporters of LNG consumed more natural gas than both households and commercial businesses last year, tightening U.S. gas supplies and putting the LNG export boom squarely in the frame of discussions surrounding rising U.S. energy costs.

Liquefied natural gas exporters gobbled up a record 5,000 billion cubic feet (141.6 billion cubic meters) of natural gas during January to November of 2025, the latest data from the U.S. Energy Information Administration (EIA) shows.

That total sharply exceeds the roughly 4,000 BCF of gas consumed by residences and the 3,000 BCF consumed by commercial sites during that period, and means LNG exporters are now the third-largest U.S. gas consumer behind industry and power firms.

The U.S. LNG export tally was 25% higher than in the same period of 2024, and accompanied a 61% rise in the benchmark U.S. natural gas price - the Henry Hub spot price - last year.

As natural gas power plants account for around 40% of U.S. electricity supplies - the most of any power source - that run-up in natural gas costs in turn fed into electricity bills for consumers, which hit all-time highs last year.

With U.S. households already grappling with record costs for insurance, housing, food and medical care, pushback against further increases in power bills is likely to be a major issue among voters in the run up to this year's midterm elections.

That in turn means that LNG exporters who compete with households and power firms for gas could come under fire, even as additional LNG export capacity is due to come online and lift potential U.S. LNG export volumes even higher. Check out the full column for more.

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