** California Governor Gavin Newsom called for federal energy regulators to investigate a recent hike in natural gas prices that has resulted in sky-high utility bills. Newsom, a Democrat, asked the Federal Energy Regulatory Commission in a letter to look into whether market manipulation, anticompetitive behavior or other activities have driven up the cost of gas in the US West, according to a statement Monday.
** U.S. natural gas futures held near a 25-month low on Monday as rising output and forecasts for warmer weather and lower demand next week than previously expected offset a colder outlook with more heating demand for this week.
** Eugene, Oregon has banned natural gas and other fossil fuel infrastructure in new homes, townhouses and other residential structures no taller than three stories.
** Democratic lawmakers in Minnesota passed an ambitious climate law last week requiring the state’s power utilities to use 100 percent clean electricity by 2040.
** Crews released toxic chemicals into the air from five derailed tanker cars that were in danger of exploding Monday and began burning it after warning residents near the Ohio-Pennsylvania state line to leave immediately or face the possibility of death.
** Almost 3 in 5 U.S. adults support federal electric vehicle subsidies, and just about half the public says that the ability to apply for a tax credit makes it more likely to consider purchasing an EV in the future, according to a new Morning Consult survey.
** A northwestern Michigan electric cooperative and internet provider has secured a $262.8 million loan from the U.S. Department of Agriculture to build and improve 438 miles of electric grid infrastructure and 2,420 miles of fiber network.
** New Wood Mackenzie research shows that the average cost of drilling and completing a well in the U.S. Lower 48 states rose by a staggering 34% last year, as prices for diesel, proppant, and steel pipe hit record highs.
** Russia logged a nearly 50% drop in oil and gas revenue in January, contributing to a wider budget deficit. Moscow’s spending surged by nearly 60% as the war against Ukraine ordered by Russian President Vladimir Putin neared the one-year mark.
** Western economies agreed new price caps on Friday on Russia’s exports of oil products that U.S. Treasury Secretary Janet Yellen said would build on the crude oil cap set in December and further limit Russian oil revenues while keeping global energy markets supplied.
** European natural gas fluctuated with the end of a short-lived cold spell in sight while healthy stockpiles are helping tackle any boost in demand.
** Danish authorities are halting the processing of new applications for offshore wind farms to determine if their permit program violates European Union laws, even as the bloc is trying to clear out obstacles to renewable energy projects.
** BP is scaling back plans to cut its oil and gas production as it posted record profits amid soaring oil and gas prices. The FTSE 100 company says it now expects its fossil fuel production to fall by 25pc by 2030, compared to a previous expectation of 40pc.
** Iraq hopes to resume pumping oil through Turkey on Tuesday afternoon after safety checks following two devastating earthquakes revealed no damage.
** Saskatchewan’s Deep Earth Energy Production Corp. said it will begin construction this year on Canada’s first commercial-scale facility for producing electricity from geothermal heat, highlighting how Canada’s expertise in oil and gas can be adapted to produce greener energy.