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.
On today’s test-acular episode of Quick Charge, it’s a new day and a new Chinese ADAS test for Tesla to conquer – but this one’s got a LOT more pedestrian carnage to parse through! We’ve also got some great e-bike deals from Retrospec and a bladder-busting Hyundai.
Today’s episode is brought to you by Retrospec – the makers of sleek, powerful e-bikes and outdoor gear built for everyday adventure! To that end, we’ve got a pair of Retrospec e-bike reviews followed up by the updated Hyundai IONIQ 6 with nearly 350 miles of range from its updated long-range battery. With that, Hyundai now has the longest range Korean EV on the market, while Texas is adding megawatts of battery energy storage to beef up its troubled grid, and it’s doing so faster and cheaper than ever before.
Plus: Quick Charge listeners can get an extra 10% off the price of their next awesome e-bike by using code ELECTREK10 at retrospec.com!
New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
Got news? Let us know! Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.
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Although many were disappointed to hear that GM was moving away from Apple CarPlay and Android Auto, it appears that it will continue to offer them in at least some overseas markets. Cadillac plans to continue offering the popular feature in EVs sold in Australia and New Zealand.
Cadillac EVs keep Apple CarPlay, Android in Australia
Only two GM electric vehicles remain on sale in the US with CarPlay and Android Auto: the GMC Hummer EV and the Cadillac Lyriq. However, that will soon change.
GM is phasing out the popular connectivity tech in favor of its own Google-based infotainment system. The company argues that an in-house system will offer drivers more control in future EVs. GM, like many automakers, also plans to offer upgrades and subscription-based features.
In at least a few overseas markets, it’s taking a different route. Cadillac announced it will launch a new Connected Services system later this year, featuring Google built-in, for EVs sold in Australia and New Zealand.
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The Cadillac Connected Services offers a suite of connectivity features, including a mobile app and over-the-air (OTA) updates.
Cadillac Connected Services for EVs sold in Australia and New Zealand (Source: Cadillac)
Managing Director of GM Australia and New Zealand, Jess Bala, said that “The inclusion of our new Connected Infotainment experience also means that Cadillac owners will have the very latest in Google’s class-leading services, from Google Maps to the Google Assistant.”
Cadillac’s new mobile app enables drivers to check the battery level, precondition the cabin, run vehicle diagnostics, and more.
2026 Cadillac Vistiq electric SUV (Source: GM)
Despite the new service, a GM spokesperson told CarExpert that “All Cadillac Lyriq, Lyriq-V, Vistiq and Optiq vehicles coming to Australia and New Zealand will offer Cadillac Connected Services as well as wireless smartphone projection,” meaning Apple CarPlay and Android Auto.
2025 Cadillac LYRIQ luxury trim (Source: Cadillac)
The new service will roll out later this year, starting with the Lyriq. All 2026 Cadillac Lyriq buyers will receive an eight-year subscription to the new Connected Services.
Those who have already taken delivery, or do so before the service rolls out, will be offered a free upgrade from a service location.
Next year, Cadillac will launch the entry-level Optiq and three-row Vistiq. The high-performance Lyriq-V is also set to join the lineup.
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Tesla is considering building a smaller pickup truck after the Cybertruck has officially become a complete commercial flop.
When first unveiling the Cybertruck and its polarizing design, CEO Elon Musk did mention that if the controversial truck proves unsuccessful, Tesla would build a different, less polarizing one. He even suggested that Tesla already had a plan B ready to go.
The Cybertruck is now officially unsuccessful.
Tesla planned for a production of 250,000 units per year, and Musk said that it could ramp up to 500,000 units a year.
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Yet, the automaker is currently selling the Cybertruck at a rate of about 20,000 units per year. It’s a commercial flop.
The vehicle program is selling at approximately 10% of the installed production capacity.
Despite the failure, Tesla has not yet greenlit a replacement, but Tesla VP of vehicle engineering, Lars Moravy, recently discussed the potential of Tesla making a “smaller pickup”:
“We always talked about making a smaller pickup. I think in the future, as more and more of the robotaxi comes into the world, we look at those options and we think about, OK, that kind of service is useful not just for people, but also for goods. [..] We’ve definitely been churning in the design studio about what we might do to serve that need for sure.”
It’s unclear whether Moravy is explicitly referring to a smaller Cybertruck or a smaller pickup designed for cargo.
One thing is clear from the executive comment: Tesla’s priority is “robotaxi”.
Electrek’s Take
This autonomy thing is truly ruining Tesla. They are putting everything through the lens of autonomy, even this comment about making a smaller pickup truck includes “as more of the robotaxi comes into the world”.
The result is that in the last 5 years, Tesla has released a single new vehicle: the Cybertruck.
Tesla should have launched five new vehicle programs during that time, but instead, it focused only on autonomy and failed to deliver it. By now, Tesla should have two cheaper vehicle programs, a real full-size third-row SUV, the next-generation Roadster, and a minivan.
Now, Tesla finds itself having given up its lead in electric vehicles for a fake lead in autonomy, which won’t deliver real value for likely another 5 years, while competition from Waymo, Baidu, and others is pulling ahead.
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