New calls to revive a cancelled pipeline project pit Republican President Donald Trump against Democratic New York Gov. Kathy Hochul , with Coterra Energy caught in the middle. Conversations about the natural gas Constitution Pipeline resurfaced last week after Trump lifted a stop-work order on the Empire Wind 1 project as part of what appeared to be a compromise with New York. The pipeline met opposition during Trump’s first term and was shelved roughly five years ago. One of the original sponsors of the pipeline was Cabot Oil & Gas, which merged with Cimarex Energy in 2021 to form Coterra, a holding in the Club’s 30-stock portfolio. “I am encouraged by Governor Hochul’s comments about her willingness to move forward on critical pipeline capacity,” Interior Secretary Doug Burgum posted on X on May 19. Then, a day later, the Empire Wind project was given the green light to go forward. Burgum’s office did not reply when CNBC reached out for further details regarding his statement. The White House did not respond immediately to our inquiries either. A spokesperson for Hochul told CNBC, however, that “no deal on any natural gas pipeline was reached,” in exchange for the wind project, which, coincidentally, a unit of another Club name, GE Vernova , has a hand in. The governor’s office said the timing of Burgum’s post alluded to a quid pro quo that did not happen. In a statement last week , Hochul said, “New York will work with the Administration and private entities on new energy projects that meet the legal requirements under New York law.” The pipeline is not the only dispute between Trump and Hochul. They are also locked in a toll battle over congestion pricing for motorists to enter the busiest parts of New York City. As the politics play out on the pipeline, Coterra CEO Tom Jorden reminded investors what’s at stake during the company’s post-earnings conference call earlier this month. “The Constitution Pipeline, as originally configured, originates in our [Marcellus] field in Northeast Pennsylvania and goes into the New England market [through New York],” Jorden said. “We’re watching and participating in that [pipeline] conversation seriously.” If the pipeline were to be built, “the expectation is that we would make a commitment to deliver long-term volumes into that line,” the CEO continued. “We’re looking at that as a potential future opportunity for growth in the Marcellus.” Most of Coterra’s Marcellus Shale properties, which represent 75% of the firm’s total natural gas output, are in Susquehanna County, Pennsylvania. Alongside a messy first quarter earlier this month, overshadowed by operational issues, Coterra said it’s shifting more of its near-term focus away from oil, which has been struggling, and toward natural gas . The company, which we covet for its ability to switch between oil and gas spending, cited positive macro conditions and Northeast storage volumes as reasons to predict a robust 2025 and 2026 for gas. Coterra said it began drilling two Marcellus rigs in April, lifting its capital spending in the region by an additional $50 million. The Constitution Pipeline, which would certainly support Coterra’s bet on natural gas and the Marcellus, has taken many twists and turns over the years. Cabot, the original champion of the project, sold a majority ownership stake to Williams Energy in 2010, four years before it was approved. The pipeline was canceled in 2020 after a slew of regulatory and legal hurdles, including a denied water permit by New York State. Cabot’s minority stake, however, kept what’s now Coterra in the game. CTRA YTD mountain Coterra YTD The financial benefits of easier and more cost-effective transportation of natural gas could also translate into a boost for Coterra shares, which closed just under $25 on Tuesday and moved lower Wednesday. The stock has declined more than 3% year to date compared to the S & P 500 ‘s slight 2025 gain. “We’re going to be in a bull market for gas, at least for the next year or so,” said Roth analyst Leo Mariani, echoing Jorden’s prediction. Mariani and his Roth colleagues have a $34 per share price target on Coterra. That’s higher than our Club price target of $30. At current share price levels, Coterra’s multiple of 8.5 times next 12 months’ earnings per share (EPS) estimates makes it cheaper compared to industry peers such as EOG Resources , which trades at 11.5 times forward earnings, and Diamondback Energy , which trades at 10.15 times. That could change if investors became more willing to pay up for Coterra earnings. Bottom line The Club agrees that Coterra’s shift to natural gas is a smart play, given current macro conditions and commodity prices. If the Constitution Pipeline were to become a reality, that would be a big deal. As our sole oil and energy stock, we’re fans of the company’s flexibility to shift its strategy to adapt to commodity prices. Jorden’s interview earlier this month with Jim Cramer on “Mad Money” helped ease our concerns about the company, including some operational issues that muddied the latest quarter. While these issues are resolved, Jim still isn’t ready to add to our Coterra position given the oil industry’s headwinds. That’s reflected in our hold-equivalent 2 rating on the stock. (Jim Cramer’s Charitable Trust is long CTRA See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
New York Governor Kathy Hochul (C) holds a picture of US President Donald Trump during a press conference at Grand Central Terminal on Feb. 19, 2025 in New York City.
The GV90 is set to raise the bar as the most luxurious Genesis SUV. If you thought the GV80 was impressive, wait until you see this larger, three-row electric flagship. After it was recently spotted in the US, we are getting our first glimpse of the ultra-luxe Genesis GV90’s interior.
First look at the Genesis GV90 interior in the US
Genesis previewed the flagship SUV at the NY Auto Show last March with the Neolun concept, which the brand refers to as its “ultra-luxe vision of luxury SUVs.”
It’s not only stunning on the outside, but the full-size SUV will introduce advanced new tech and upscale design features for “a whole new level of luxury.”
Drawing inspiration from Korean aesthetics, the interior is fit for royalty. The concept featured a “Royal Indigo” cashmere and a vintage-like “Purple Silk” leather. Genesis topped it off with dark-colored wood accents for an even more luxurious feel.
Advertisement – scroll for more content
After it was spotted in public in California, it looks like the interior of the Genesis GV90 will retain some elements from the concept.
The new photos, courtesy of The Korean Car Blog, offer a sneak peek at what we can expect when it arrives in production form.
You’ll notice that the color scheme remains largely the same, with purple accents on the door trim, seats, and other interior elements.
The GV90 will serve as the luxury brand’s tech beacon, featuring Hyundai Motor’s latest technology and software. A 24″ infotainment system will sit at the center with navigation and voice command recognition.
It will also feature a 3D audio experience with tweeters, midrange speakers, woofers, and subwoofers strategically placed, creating an immersive audio experience. The iconic Crystal Sphere is not only a centerpiece, but it will also serve as a hi-fi tweeter speaker.
According to Luc Donckerwolke, Genesis’ chief creative officer, the concept is “the epitome of timeless design and sophisticated craftsmanship.” Do you agree?
With GV90 models now in public testing, Genesis appears to be on track to launch the flagship SUV in mid-2026. Earlier this month, we got a closer look at the exterior after it was caught testing at the Nürburgring with less camo.
More details, including prices and final specs, will be revealed closer to launch. However, it is expected to ride on Hyundai’s new eM platform, which will replace its current E-GMP.
FTC: We use income earning auto affiliate links.More.
The SEC has formally dropped its lawsuit against Binance and founder Changpeng Zhao, bringing an end to one of the last remaining crypto enforcement actions brought by the agency.
In a Thursday filing in the U.S. District Court for the District of Columbia, lawyers for the SEC and Binance jointly moved to dismiss the case, which was first brought in June 2023.
The original complaint accused the crypto exchange of violations including illegally serving U.S. users, inflating trading volumes, and commingling customer funds. The agency also claimed that Binance unlawfully enabled trading in crypto assets it viewed as unregistered securities, an argument that was also used against Coinbase, Kraken, and others under prior SEC leadership.
The dismissal marks a symbolic end to one of the most aggressive crypto crackdowns in U.S. history, and comes as the Trump administration makes a concerted effort to prove that it’s an ally to the industry. The Justice Department has already shut down its crypto enforcement team, and the Commodity Futures Trading Commission is now set to be led by a venture capitalist with close ties to crypto.
Binance is the largest digital assets exchange in the world by volume. It recently forged ties with World Liberty Financial, a project that aspires to be a crypto bank and funnels 75% of profits to entities linked to the Trump family. Binance is taking a $2 billion investment from the Emirati state fund MGX entirely in USD1, a stablecoin newly launched by the World Liberty team.
Binance and World Liberty are also deepening their footprint in Pakistan, where WLF co-founder Zack Witkoff, the son of U.S. Middle East envoy Steve Witkoff, recently struck a deal with the government. Around the same time, Zhao was appointed as an adviser to Pakistan’s newly formed Crypto Council, a state-backed body tasked with shaping national digital asset policy.
The SEC was the last major regulator still pursuing Binance after a $4.3 billion settlement with the U.S. government last year that saw Zhao plead guilty and step down as CEO, while avoiding jail time and retaining much of his wealth.
The agency’s motion to dismiss was granted with prejudice, meaning the SEC can’t refile the same claims.
Under the SEC’s new leadership, the agency has shifted away from enforcement and toward engagement and regulatory rollback. It’s held a series of roundtables led by Commissioner Hester Peirce and newly appointed Chair Paul Atkins.
The SEC has also begun dismantling key rules that once kept Wall Street on the sidelines. In January, it scrapped Staff Accounting Bulletin 121 — a controversial directive issued under former Chair Gary Gensler that forced banks to count crypto holdings as liabilities on their balance sheets. Peirce celebrated the reversal on X, posting, “Bye, bye SAB 121! It’s not been fun.”
In February, the agency followed up with new guidance indicating that it doesn’t view most meme coins as securities under federal law, providing a boon to the Trump family.
President Trump and several of his family members are closely tied to crypto ventures, including the $TRUMP token, which launched just before his January inauguration. The coin currently boasts a market cap of about $2.4 billion, with its website claiming that 80% of the supply is held by the Trump Organization and affiliated entities.
After its electric vehicle sales more than doubled in the first quarter, GM claims it’s now the “#1 EV seller” in Canada. With a full lineup of 13 all-electric vehicles, GM sold more EVs than Tesla in Canada.
GM tops Tesla to become the #1 EV seller in Canada in Q1
GM’s electric vehicle sales in Canada surged by 252% in the first three months of 2025, with new Chevy and Cadillac models driving growth.
The Chevy Equinox EV led the way with 1,892 units sold, followed by the Silverado EV with 894 units. Cadillac’s new entry-level OPTIQ had a strong showing, with 615 models sold, nearly matching the 720 units sold of its first EV, the LYRIQ.
Even the GMC Hummer EV Pickup and SUV saw more demand, with sales up 232% (186) and 88% (252), respectively.
Advertisement – scroll for more content
Combined, the automaker sold a total of 5,750 EVs in Q1. According to GM, this was enough to top Tesla to become “the #1 EV seller in Canada.”
GM Canada recently posted on social media, saying, “We claimed the top spot as Canada’s #1 EV seller!” The news comes as registration data show that Tesla registered just 524 vehicles in Quebec in Q1, down 87% from the same period last year.
The steep decline in sales comes after the Quebec government paused federal EV incentives from February to April 1st. Canada also paused its iZEV rebate program in January, which offered up to $5,000 on the purchase or lease of an EV. Like the US federal EV Tax credit, it was designed to be used at the point of sale to help lower prices.
Chevy Equinox EV LT (Source: GM)
GM also registered significantly fewer Equinox and Blazer EVs in Quebec during the quarter. Despite higher year-over-year (YOY) sales, GM’s electric vehicle (EV) sales were down considerably from the over 15,000 in Q4 2024.
Cadillac OPTIQ EV (Source: GM)
The American automaker will continue to expand its lineup with the launch of the new Cadillac Escalade IQL, Lyriq-V, and Visiq.
By the end of the year, we also expect to get our first look at the next-gen Chevy Bolt EV with deliveries starting in 2026.
Electrek’s Take
GM is building momentum with new models rolling out, which now cover nearly every segment. In the US, GM surpassed Ford and Hyundai Motor, including Kia, to become the second-largest seller of EVs last year.
Chevy is now the fastest-growing EV brand in the US. The new electric Equinox, or “America’s most affordable 315+ miles range EV,” as GM calls it, is quickly becoming a top seller. The Blazer and Silverado EVs are also gaining traction.
Cadillac reported its best first quarter since 2008, with retail sales increasing by 21%. After delivering the first models in Q1, the entry-level OPTIQ is off to an impressive start with 1,716 units sold.
GM will top off its US electric vehicle lineup with the next-gen 2026 Chevy Bolt EV due out later this year or in early 2026.