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• Hart Energy: $5/Mcf Through 2026 in ‘Coming US Gas Super-Cycle’
  U.S. natural gas will be $5/Mcf this and next year and that’s “conservative,...
  U.S. natural gas will be $5/Mcf this and next year and that’s “conservative, in our view,” Bernstein Research analysts report in describing “a coming U.S. gas super-cycle.”
  
  Bernstein’s 2025 and 2026 forecast had been $3. The 12-month strip for gas delivered to Henry Hub was $3.99 at press time, according to real-time CME Group data. The 24-month strip was also $3.99.
  
  Bob Brackett, Bernstein senior E&P analyst, expects 12 Bcf/d of additional gas demand for U.S. power generation into 2030—growing at a rate of 2 Bcf/d more per year beginning this year as more power-hungry AI data centers come online.
  
  Source: Hart Energy [subscription required]
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• Renewables investment to top oil, gas in 2025
  Global clean technology investments are forecasted to hit $670 billion...
  Global clean technology investments are forecasted to hit $670 billion in 2025, marking significant growth driven by solar and onshore wind, a report from S&P Global Commodity Insights predicts. Despite this growth, the report emphasizes that current investment levels are still insufficient to meet energy transition targets.
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• Big banks’ business is booming
  Big banks kicked off earnings season ...
  Big banks kicked off earnings season strong, with America’s biggest bank, JPMorgan, posting its—and any US bank’s—largest ever full-year profit of $58 billion. Its Q4 profits also jumped 50% compared to the year before. Meanwhile, Q4 profits at Goldman Sachs shot up 105%, and Citi and Wells Fargo also reported strong results for the quarter, which saw companies get optimistic about the economy thanks to rising employment numbers and an expectation that Donald Trump’s incoming administration will be business-friendly. Reporting today: Bank of America and Morgan Stanley.
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• ☕️What Else is Brewing Thursday Morning
  The DOT really wants your plane to land on time. The...
  The DOT really wants your plane to land on time. The Department of Transportation slapped Southwest Airlines with a lawsuit yesterday accusing the budget carrier of operating chronically late flights because of unrealistic scheduling. Southwest said that it was "disappointed" by the suit, touting its record of not cancelling flights. The DOT also announced a $650,000 fine for Frontier Airlines over late arrivals. This looks like part of a larger crackdown since the department recently issued its first-ever fine against JetBlue over similar allegations.
  
  Democrats grilled Pam Bondi, Trump’s pick to lead the Justice Department, on her independence from the president-elect. Meanwhile, his secretary of state nominee, Sen. Marco Rubio, weighed in on foreign policy during confirmation hearings yesterday.
  
  The Supreme Court appeared inclined to uphold a Texas law requiring age verification for porn websites, despite the site operators’ free speech arguments and Justice Alito questioning whether Pornhub has culturally relevant articles like old school Playboy.
  
  The SEC sued Elon Musk, alleging he ran afoul of securities laws by failing to disclose his growing stake as he bought up shares of Twitter (now X and owned by him) in 2022.
  
  South Korea’s impeached president Yoon Suk Yeol was arrested on the second try in a tense standoff that required 1,000 police officers.
  
  Two private moon landers, one from an American company and one from a Japanese firm, took flight from Earth yesterday on a SpaceX rocket.
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• U.S. stocks finish sharply higher, helped by CPI data and plunging bond yields
  The Dow Jones Industrial Average and S&P 500 finished...

  The Dow Jones Industrial Average and S&P 500 finished with a third straight day of gains on Wednesday, after December's consumer-price index sparked a relief rally and the biggest plunge in Treasury yields seen in months.

  
  

  The CPI report, which contained a softer-than-expected monthly core reading, prompted traders to slightly boost their expectations for a quarter-point interest-rate cut from the Federal Reserve by June, as well as a total of two cuts by year-end.

  
  

  The Dow Jones Industrial Average closed up by 1.7% at around 43,221, based on preliminary data.

  
  

  The S&P 500 finished higher by 1.8% at roughly 5,949.

  
  

  The Nasdaq Composite ended up by 2.5% at around 19,511. It was the Nasdaq's first gain in the past six sessions.

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