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.
Fortescue is marching towards zero emissions as it invests in new, zero-emission mining equipment options across its global operations. And that investment? It’s already paying off. One analyst says the company’s saving almost $400 million in fuel costs alone. Each year.
From massive, Liebherr-built electric haul trucks and excavators to more than $400 million in Chinese equipment from XCMG, Fortescue is putting its money where its mouth is and making real efforts to decarbonize its global mining operations.
“We’re moving rapidly to decarbonize our Pilbara iron ore operations and eliminate our Scope 1 and 2 terrestrial emissions by 2030. To achieve this target, we will need to swap out hundreds of pieces of diesel mining equipment at the end of their life with zero emissions alternatives,” said Fortescue Metals Chief Executive Officer, Dino Otranto, when the XCMG order was announced. “As the global mining industry continues to evolve, we’re proud to be at the forefront of driving innovation in value adding green technology and showing the world that industry can decarbonize.”
Those efforts aren’t just cutting back on air pollution. Electric equipment assets are helping to keep the company’s workers safe and healthy, too. What’s more, they’re saving the company money – they’re already seeing $300-400 million in fuel savings annually.
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Liebherr T264 electric haul truck
Liebherr T264; via Fortescue.
The Liebherr T264 electric haul trucks now working for Fortescue defy common sense notions of size, scale, and power. Each truck tips the scales at 176 tonnes (194 tons) and can haul more than 240 tonnes (265 tons) of payload thanks to powerful electric motors and a big-as-a-house-sized 3.2 MWh battery that can be recharged in a little over 30 minutes by Liebherr’s proprietary 6 MW DC fast charger.
If you could keep the car from exploding, that 6 MW (that’s 6,000 kW to you and me) charger could zap a Tesla Model Y Long Range’s 75 kWh battery in some thirty (30) seconds.
Meanwhile, big electric haul trucks like this 240 ton unit from Caterpillar can, in certain use cases with high amounts of regenerative braking, operate without any significant cost to recharge. At that point, the reduced maintenance and downtime of BEVs compared to diesel vehicles becomes icing on the TCO cake.
We spoke to Fortescue Zero executives a few months ago on a special interview episode of Quick Charge. Check it out (above) then let us know what you think of Fortescue’s fuel savings in the comments.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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This world’s first fully electric deconstruction site is being hailed as a landmark in sustainable urban development — and it’s powered by Siemens technology and Volvo Group’s battery-electric trucks and heavy equipment.
The deconstruction project (that’s kind of like a really careful demolition) marks the first full-scale electric deconstruction of its kind, and serves as important proof that with the right partners and the will to do it, urban construction projects like this can be carried out sustainably, today – and all without fossil fuels. It’s all part of Siemens’ €500 million technology campus redevelopment, the deconstruction site in Erlangen, Germany, and marks a pivotal step in advancing sustainable urban transformation and circular construction practices.
In collaboration with the demolition specialists at Metzner Recycling, Volvo CE deployed a fully electric fleet of equipment assets specially chosen to deliver quiet, precision demolition across the 25,000 cubic meter job site.
As well as deconstruction tasks, the electric machines helped sort and process approximately 12,800 tons of construction waste, with 96% recycled into raw materials for future use – supporting the shift towards circular materials management.
VOLVO CE
“At Siemens Real Estate, we are committed to pushing the boundaries of sustainable construction and demolition,” explains Christian Franz, Head of Sustainability at Siemens Real Estate. “This groundbreaking electric deconstruction project boasts an impressive 96% recycling rate and is a testament to our commitment to achieving excellence in sustainability … this project illustrates how partnerships and determination can create a lasting impact and help shape a more sustainable real estate industry.”
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In addition the construction equipment was hauled into the site by Volvo Truck’s battery electric semi trucks, enabling emission-free operations from demolition, to crushing, materials processing, and transport.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.
Hyundai offered a first look at the hot hatch earlier this week after unveiling the Concept Three, its first compact EV under the IONIQ family. The new EV, set to arrive as the IONIQ 3, already has a sporty, hot hatch look, but that could be just the start.
Hyundai has a new EV hot hatch in the making
The Concept Three took the spotlight at IAA Mobility in Munich with a daring new look from Hyundai. Based on its new “Art of Steel” design, the concept is a stark contrast to the Hyundai vehicles on the road today.
Hyundai took the “Aero Hatch” design to the next level, deeming it “a new typology that reimagines the compact EV silhouette.” And that it does.
When it arrives in production form in mid-2026, it’s expected to take the IONIQ 3 name as a smaller, more affordable sibling to the IONIQ 5.
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Hyundai is set to unveil the electric hatchback next spring with an official launch planned in Europe in September 2026. According to Hyundai’s European boss, Xavier Martinet, the IONIQ 3 could make for the perfect EV hot hatch.
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
Martinet hinted that the IONIQ 3 could receive the “N” treatment, telling Auto Express that “The concept is quite sporty, and obviously you have heritage with N brand.” Hyundai’s European boss added that “it’s a fair topic to consider.”
Although it doesn’t sound too convincing, Hyundai’s head of design, Simon Loasby, called it “an opportunity.” Loasby was quick to add, “We’re not calling it N, it’s not approved yet.”
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
“But I think everyone in the company is realising what Europe needs, and that’s compact hot hatches, so it’s a topic for discussion,” Hyundai’s design boss added.
The Concept Three is 4,287 mm long, 1,940 mm wide, and 1,428 mm tall, with a wheelbase of 2,722 mm, or about the size of the Kia EV3 and Volkswagen ID.3. Both of which are set for hot hatch variants.
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
If the IONIQ 3 N does come to life, it will be the third Hyundai EV to receive the high-performance upgrade, following the IONIQ 5 N and IONIQ 6 N.
The IONIQ 5 N “was just the first lap,” according to Joon Park, vice president of Hyundai’s N Brand Management Group. He told Auto Express that Hyundai is “at the starting line” and plans to apply what it learned from its first EV hot hatch to upcoming models.
If you’re looking for an affordable electric hot hatch, Hyundai already offers one. After Hyundai cut lease prices last month, the IONIQ 5 N is now listed at just $549 per month. That’s $150 less per month than in July.