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.
SolarEdge and Solar Landscape are going to turn hundreds of empty commercial rooftops into solar energy generators in the US.
The two companies announced today that they’ve struck a deal to use SolarEdge’s US-made solar technology in more than 500 commercial rooftop projects across multiple states. Construction will take place in 2025 and 2026.
The installations will be built on large-scale commercial and industrial buildings – think warehouses and distribution centers – with a ton of untapped solar potential.
“Generating electricity on commercial rooftops and distributing it into the grid is America’s most shovel-ready energy option,” said Shaun Keegan, CEO of commercial rooftop solar developer Solar Landscape. “Our partnership with SolarEdge allows us to rapidly and efficiently deploy solar across a diverse array of commercial and industrial rooftops. Their US-manufactured technology gives us the reliability and performance we need while meeting domestic content requirements for our projects.”
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Using US-made tech helps projects qualify for federal incentives while reducing delays by keeping supply chains local. SolarEdge says its domestic manufacturing operations have already created about 2,000 American jobs.
Naama Ohana, who heads up SolarEdge’s commercial & industrial division, said, “This collaboration demonstrates how American innovation and manufacturing are helping to address the nation’s growing energy needs while strengthening local economies.”
In 2024 alone, Solar Landscape leased 40 million square feet of rooftop space in the US, and it aims to deploy enough solar to power around 80,000 homes. The company now has more than 80 partners who own over 2 billion square feet of commercial property nationwide.
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Hyundai is preparing to launch what’s expected to be its most advanced EV yet. With its official launch just around the corner, Hyundai’s new Elexio SUV is already beating expectations in global testing.
Hyundai’s Elexio electric SUV impresses in global tests
We got our first look at the Elexio in May after Hyundai’s joint venture with BAIC, Beijing Hyundai unveiled the new electric SUV in Shanghai.
After warning that China is a “must-fight place” for global automakers, including itself, Hyundai is stepping up to the plate.
The Elexio is “a new starting point,” the company claims. Dubbed the IONIQ 5 of China, Hyundai’s new electric SUV is packed with smart technology, fast charging capabilities, and advanced features, boasting a CLTC driving range of 435 miles (700 km).
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Ahead of its official launch in China in the next few weeks, the Elexio is already making a statement during global tests.
Hyundai’s new electric SUV has now undergone three crash tests, among other global evaluations, consistently outperforming safety, quality, and performance expectations each time.
Hyundai Elexio electric SUV during global testing (Source: Beijing Hyundai)
After impressing during front, side, and ditch rollover safety tests, Hyundai credited the five layers of ultra-high-strength steel plating, dubbed “God’s Hand,” around the frame. In fact, it has a 360-degree reinforced body design with eight horizontal and seven vertical floor beams.
In a -30℃ (-22F) chamber, the Elexio still started up and charged while the battery preconditioned. It also lost less driving range than the average. The Elexio lost 39% of its range compared to an average of around 40% at -7℃ (19.4°F).
(Source: Beijing Hyundai)
The final global ride and handling road test proved Hyundai’s electric SUV is ready to hit the streets. Hyundai simulated 17 types of “bad urban road” conditions to see if the Elexio could handle them.
Based on Hyundai’s E-GMP platform, the company claims the Elexio offers “the highest suspension configuration in its class.” Added high-end shock absorber valves and hydraulic bushings to minimize vibration, while providing drivers with more control over the vehicle. Hyundai fine-tuned the suspension over 300 times for the perfect ride.
Hyundai Elexio SUV (Source: Beijing Hyundai)
After China’s MIIT released sales info last month, we learned that Hyundai’s new electric SUV is 4,615 mm in length, 1,875 mm in width, and 1,673 mm in height, which is slightly smaller than the Tesla Model Y.
It will be available in single and dual-motor powertrain options, providing 160 kW (214 hp) and 233 kW (312 hp) of output, respectively. The LFP batteries will be supplied by BYD’s battery unit, FinDream.
Hyundai is set to launch the Elexio in China in the third quarter of 2025. Prices will be announced closer to launch, but according to CarNewsChina, it’s expected to start at around 140,000 yuan ($19,500).
A rending of LG Energy Solution’s Stand-Alone Battery Manufacturing Complex Project in Arizona / Source: LG Energy Solution
Tesla is rumored to be behind a large $4 billion lithium-iron phosphate (LFP) battery cell order with Korea’s LG Energy Solution.
Yesterday, LG reported having secured a $4.3 billion order for LFP battery cells from its new factory in the US from August 2027 to July 2030.
The Korean company didn’t confirm the identity of the customer, but it did mention that the cells will be used in stationary energy storage products, which prompted many people to speculate that Tesla is behind the order.
Tesla currently produces Megapacks and Powerwalls in the US with LFP battery cells from China.
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We previously reported that this is a problem amid the trade war between the US and China.
As of last year, a 25% tariff already applied to battery cells from China, but this increased to more than 80% under Trump before he paused some tariffs on China. It remains unclear where they will end up by the time negotiations are complete and the trade war is resolved, but many expect it to be higher.
The automaker had secured older manufacturing equipment from one of its battery cell suppliers, CATL, and planned to deploy it in the US for small-scale production.
Tesla recently unveiled some images of the factory, which it claims is almost complete, but it is expected to be limited to less than 10 GWh of LFP battery cell production per year at full capacity, while Tesla produces more than 40 GWh of energy storage products per year in the US.
LG’s LFP battery cells made in the US would enable Tesla to close the gap between its own battery cell production and its Megapack and Powerwall production.
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