Ratepayer protection pledge and data center power demand
** Tech execs are expected at the White House next week to sign what President Trump called a “ratepayer protection pledge” during Tuesday’s State of the Union.
** Goldman Sachs, in an updated analysis, sees 220% growth in data center power demand between 2023 and 2030, up from 175% in their prior outlook.
DOE loan and rare earth manufacturing investment
** The Department of Energy’s ever biggest loan, $26.5 billion, was made to Southern Company subsidiaries for projects in Georgia and Alabama. It will support new gas-fired generation, expanding output from existing nuclear and hydro plants, transmission, storage projects and more.
** MP Materials company announced plans to build a $1.25 billion rare earth magnet factory near Fort Worth. The plant will be located in Northlake with a factory expected to create 1,500 jobs. It’s a huge investment in DFW for the company as the U.S. ramps up competition with China for rare earth minerals.
Energy regulation and corporate developments
** The Colorado Energy and Carbon Management Commission proposed a $1.75 million penalty against Chevron for a well blowout last year at the Bishop A07-01 pad near Galeton. The cleanup could take four more years.
** NextEra Energy, Inc. (NYSE: NEE) announced that it intends to sell $2.00 billion of equity units in a public offering. NextEra Energy, Inc. expects to grant to the underwriters an option to purchase up to an additional $0.30 billion of equity units solely for the purpose of covering over-allotments.
World energy markets and geopolitics
** Russia will aim to keep its Urals crude oil exports steady in March by boosting shipments to China as India, a key buyer, cuts purchases following a trade deal with the U.S.
** Russian-operated shadow tankers carrying millions of dollars in sanctioned oil are transiting the English Channel, raising warnings of a potential military confrontation in NATO waters, according to reports. The movements came amid heightened tensions between Russia and NATO, with the Royal Navy stepping up surveillance of U.S.- and allied-sanctioned vessels in one of the world’s busiest shipping lanes.
** A tanker allegedly carrying Russian fuel en route to Cuba is using deceptive “dark fleet” tactics, including signal manipulation and offshore ship-to-ship transfers, according to maritime intelligence firm Windward. According to MarineTraffic, the vessel, called Sea Horse, was located Tuesday on the U.S. East Coast with its signal, noted as “roaming.”
** Canada’s oil and gas sector is currently experiencing a massive, multi-year wave of consolidation, with 2025 seeing over $37.8 billion in deals executed or pending, marking the highest activity level since 2017.