Dear new parents: Fantastic Four: First Steps will destroy you. Bring tissues. Or just wipe your face with Wet Ones.

"I have never felt more uncertainty about our business in my entire 40-plus-year career” — Trump’s energy and trade policy undermines the US oil and gas industry that he aims to bolster, executives say in the latest Dallas Fed Survey. From my colleague Bill Holland.

www.spglobal.com/market-intel...

California's Future of Gas proceeding is entering a major new phase: Determining near-term steps to facilitate a managed transition away from natural gas use, including by requiring gas utilities to consider non-pipeline alternatives to fossil fuel projects. Read: www.spglobal.com/market-intel...

A US district court upheld NYC's gas ban for new buildings, the 1st major decision since a US appeals court knocked down Berkeley's ban in 2023. Here's what this could mean for the many legal challenges to US building decarb policy that followed the Berkeley ruling: www.spglobal.com/market-intel...

Hey hey! 11 years ago today, this fresh-faced reporter with baby duck hair was about to board a plane to visit his sister in China.

ICYMI: All of the scenario planning conducted to inform New Jersey's next Energy Master Plan found that natural gas demand will plunge more than 70% by 2050 as the state pursues its climate goals. Meanwhile, electricity demand will roughly double. Read here: www.spglobal.com/market-intel...

No Deal: President Trump & NY Gov. Kathy Hochul ended today's WH meeting without an energy bargain - but will keep talking about trading Hochul's support for the defunct Constitution Pipeline project for Trump's backing of NYC congestion pricing & other items. More: www.spglobal.com/market-intel...

Puget Sound Energy will partner with Modern Hydrogen to help large gas utility customers deploy on-site hydrogen production & carbon capture and utilization tech. The goal is to decarbonize hard-to-electrify sectors, which face tough Washington emission limits. Read: www.spglobal.com/market-intel...

Regulators in climate-focused states are mulling the idea of retiring parts of gas utility systems. Last week, NY's regulator directed 2 gas utilities to explore decarbonization strategies like building electrification rather than replace leak-prone pipe. Read: www.spglobal.com/market-intel...

Reversal of Biden's building electrification initiatives. Tax credits for RNG. A lighter-touch on methane leak detection rules. Permitting reform that limits pipeline project challenges.

With Trump in office, gas utilities see a more constructive backdrop. Read: www.spglobal.com/marketintell...

Casual Friday

One of my 1st stories of the 2nd Trump admin: The handoff from Biden augurs a sharp pivot from 4 years of federal support for the building electrification movement and an energy efficiency campaign that fueled a culture war over gas stoves and other appliances. Read: www.spglobal.com/marketintell...

New boss, pictured here, has approved my return to work after 6 weeks away from the downstream fuels and clean heat beat. Dispatches on federal, state and local building decarbonization, low-carbon fuel and geothermal policy coming at you soon. Go Bills.