Nick Cunningham

@nickcunningham

Reporter for Gas Outlook, covering oil and gas industry. Previously at DeSmog. Portland, Oregon

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Nick Cunningham@nickcunningham· 4d

really excellent WSJ article on the breakdown of off-grid power at Xai and other data centers. www.wsj.com/business/ene... I'd note that @brendan.bsky.social pointed this kinda risk out to me a few weeks ago --> gasoutlook.com/analysis/gas...

Nick Cunningham@nickcunningham· 5d

LNG for electricity in India is not really a thing, so don't let the gas industry tell you its going to replace coal LNG prices shot up from $11 to $22 bc of war, but as this quote notes, LNG would need to be around $5 to compete gasoutlook.com/analysis/ind...

Purva Jain, Lead Energy Specialist (Gas, South Asia) at IEEFA, told Gas Outlook that the government retired about 5 GW of stranded gas-fired power capacity in 2025 due to inoperability, with no plans to build new capacity in the near future.

“From a cost-economic perspective, fuel prices would likely have to fall to $5-5.75/MMBtu for gas-fired power plants to compete with coal and renewables in India, so their role in regular power supply is quite limited,” she said.

Nick Cunningham@nickcunningham· 11d

Nick Cunningham@nickcunningham· 18d

Third Way is a Wall Street funded "centrist" think tank that reflects the wishes of Wall Street They're framed as "moderates" b/c big money interests are considered "moderate" and "bipartisan" in DC. Where's the $15m coming from? www.nytimes.com/2026/08/06/u...

Nick Cunningham@nickcunningham· 20d

Climate crisis is no fun

Nick Cunningham@nickcunningham· 26d

Good morning to @drkatemarvel.bsky.social. I really enjoyed your book!

Nick Cunningham@nickcunningham· Jul 24

Dropsite News reporting that 1) Ecuadorian official investigating US drone strikes on boats was assassinated 2) boat survivors were held and tortured by men in US military uniforms, and then rendered to El Salvador www.dropsitenews.com/p/prosecutor...

Nick Cunningham@nickcunningham· Jul 16

worth noting that LNG does not compete in the power sector in China, despite years of industry claims that LNG is "replacing" coal China has pursued a coal+renewables strategy www.reuters.com/graphics/IRA...

Nick Cunningham@nickcunningham· Jul 10

Nick Cunningham@nickcunningham· Jul 6

Global warming is starting to move faster. The energy imbalance “suggests that the models may also be under-predicting future warming" Great reporting here: www.bloomberg.com/graphics/202...

Nick Cunningham@nickcunningham· Jun 23

Meanwhile, Europe is poised to give in to petrostates lobbying for weaker methane regulation, which could pave the way for more gas imports. Methane crisis is supercharging the warming

Nick Cunningham@nickcunningham· Jun 22

cant believe NYC didnt want this guy as mayor

Nick Cunningham@nickcunningham· Jun 15

Solar has overtaken gas power in Asia to become the continent’s third-largest source of electricity www.carbonbrief.org/analysis-sol...

Nick Cunningham@nickcunningham· May 12

The problem with the center/center right in Europe appeasing Trump is that if it's only the far-right vocally recognizing reality, well, then, they'll get more support www.ft.com/content/de3a...

Germany’s far-right AfD sees surge in support after it criticises Donald Trump’s Iran war

Nick Cunningham@nickcunningham· Apr 29

Shapiro also backstabbed the Dimock residents years ago. He fought gas drillers as AG, then welcomed them and cut a deal with them when he became gov, knowing that the next step would be a run for president www.theguardian.com/us-news/2024...

Nick Cunningham@nickcunningham· Apr 28

out of ideas, getting desperate www.reuters.com/world/us/us-...

US spy agencies examine how Iran would react to Trump declaring victory

Nick Cunningham@nickcunningham· Apr 23

Do the Democrats or any 2028 candidate have a real platform for U.S. farm country? b/c Trump is causing a lot of pain and rage right now and there are prob a lot of voters up for grabs www.ft.com/content/c3b7...

Nick Cunningham@nickcunningham· Apr 21

Europe's most fossil-fuel-dependent countries face the highest energy costs. Italy in one of the worst positions, highly dependent on imported LNG www.ft.com/content/6b4e...

Nick Cunningham@nickcunningham· Apr 10

Goldman Sachs: oil crisis creates "bullish case for solar" and will lead to "structural solar surge"

Based on what we observed during and post the 2022 energy crisis, we draw three lessons for the potential short-run and long-run impact of the 2026 Middle East conflict.

First, the 2022 shift in LNG imports away from South Asia to Europe suggests the risk of energy outages in 2026 is higher for lower-income economies, while high-income importers (e.g., Europe, Japan) are likely to pay up again.

Second, the jumps in solar power generation since 2022 in oil and gas importers as diverse as Europe and China is consistent with our bullish views on the structural solar surge and global power demand.

Third, the shift by several South and Southeast Asian economies from natural gas to coal suggests an even sharper focus on energy security is likely to continue to support global coal demand for years to come.

Energy Shocks: More Solar, More Coal?
Lesson 1: Higher Risks for Lower-Income Economies
Given the 2022 shift in LNG imports away from South Asia to Europe, we see relatively higher risks of energy outages and also manufacturing outages due to a lack of oil and natural gas input in 2026 for low-income economies, e.g. Bangladesh and Pakistan, if the disruptions persist. Due to higher price sensitivity, these countries could be outbid by high-income importers like Europe and Japan and lack sufficient energy supply.
Importing significantly less Russian natural gas (which previously accounted for 40% of supply) in 2022, the EU had to shift toward liquefied natural gas imports. This created a substantial positive demand shock in the global LNG market that led to LNG price rallies. While exposure to energy imports matters (Exhibit 1), major net importers’ responses (Exhibit 2) also depend on their economic development (ability to pay).

Developed Economies: The EU, Japan, and South Korea maintained or increased import levels by paying record-high prices, effectively diverting flows away from other buyers.

Emerging Economies: While India and China ar…

Nick Cunningham@nickcunningham· Apr 9

North Sea oil hits nearly $147, fears of physical shortage www.ft.com/content/f04a...

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://help.ft.com/faq/gifting-and-sharing-an-article/what-is-a-gift-article/.
https://www.ft.com/content/f04ad855-81e3-49c5-827e-d3c4acb901c9?syn-25a6b1a6=1

Forties Blend, a marker for oil for immediate delivery, hit almost $147 a barrel on Thursday, above the highs reached on the eve of the 2008 financial crisis as traders scrap for oil cargoes to replace huge volumes now trapped in the Gulf, according to LSEG data.

The physical barrels from the North Sea were trading far above the $97 price of Brent, the international benchmark, for delivery in June — another sign of fear of shortages in the oil market.

Nick Cunningham@nickcunningham· Apr 8

WSJ: Oil executives sold $1.4 billion in personal stock between January and March, making a fortune on the war www.wsj.com/business/ene...

Chevron Chief Executive Mike Wirth sold some $104 million worth of shares between January and March. ConocoPhillips’s Ryan Lance netted about $54.3 million in share sales in March alone. Lorenzo Simonelli, CEO of oil-field services company Baker Hughes, sold about $33 million worth of stock that same month

Nick Cunningham@nickcunningham· Mar 30

Third Way once again www.nytimes.com/2026/03/02/u...

Nick Cunningham@nickcunningham· Mar 27

Western automakers getting slammed from war, as investors pile into Chinese EVs FT: Oil market chaos will supercharge the electric car shift Long-term prospects for combustion engines were fading even before the outbreak of war www.ft.com/content/f9f5...

Nick Cunningham@nickcunningham· Mar 25

US sees cratering metrics on democratic freedom "Civil rights and equality before the law have fallen to the levels of the mid-1960s and, notwithstanding the blather about “free speech”, freedom of expression is at its lowest level since the early 1950s. www.ft.com/content/c4c1...

Nick Cunningham@nickcunningham· Mar 24

Oklahoma Gov. selects Alan Armstrong, chairman of Williams Companies (major pipeline operator), as new US Senator First order of business for Armstrong? "Permitting reform", which also happens to be one of the oil and gas industry's top priorities www.wsj.com/politics/pol...

Nick Cunningham@nickcunningham· Mar 24

MbS has often been depicted as opposing the war. In reality, reporting suggests he wants Trump to go all the way www.nytimes.com/2026/03/24/u...

Prince Mohammed, an authoritarian royal who has led a sustained crackdown on dissent, is respected by Mr. Trump and has previously influenced the president’s decision-making. Prince Mohammed has argued that the United States should consider putting troops in Iran to seize energy infrastructure and force the government out of power, according to the people briefed by U.S. officials.

Nick Cunningham@nickcunningham· Mar 23

it's all going according to plan

Friday’s press gaggle. Barely exaggerated: at 12:03 PM, President Trump told reporters he wanted a ceasefire with Iran. At 12:05 he declared victory. At 12:07 he announced he was sending Marines. At 12:08 he said no boots on the ground. At 12:11 he said he did not want a ceasefire. At 12:16 he declared victory again. At 12:17 he asked for a ceasefire. At 12:23 he told NATO they were cowards. At 12:29 he said Iran was begging for a ceasefire. At 12:31 he said everything was perfect. At 12:36 he said $500 oil was a good thing. At 12:37 he demanded Iran open Hormuz. At 12:39 he said Hormuz was never closed. At 12:41 he said the US was not at war with Iran. At 12:42 he declared victory in Iran.

By 3:43 PM he told CBS he doesn’t want a ceasefire. By 5:13 PM - 13 minutes after futures markets closed for the weekend, in a coincidence that should be studied in every securities fraud textbook - he posted on Truth Social that the US is “getting very close to meeting our objectives as we consider winding down our great Military efforts”. The S&P reversed more than 1% in seconds. QQQ had already surged 1.1% in the 80 minutes before the announcement, with call options flowing in at a pace that suggests someone, somewhere, had an itinerary.

Nick Cunningham@nickcunningham· Mar 20

"Pollution fell everywhere, but especially along major roads"

Nick Cunningham@nickcunningham· Mar 20

IEA details options to immediately reduce energy use Lots of sensible options that should be done anyways, but now urgent due to crisis www.iea.org/news/new-iea...

Nick Cunningham@nickcunningham· Mar 20

LNG “demand destruction” necessary after Ras Laffan attack gasoutlook.com/analysis/lng...