Trump’s Energy Dominance Dreams Backfire as Gas Prices Surge Past Promises

America’s energy abundance still isn’t showing up at the checkout line. Natural gas prices have jumped more than 70% year-over-year, with the Henry Hub settling at $5.2, the highest since late Dec. 2022. The surge is being driven by record liquefied natural gas shipments headed overseas, a cold snap that pushed heating demand higher, and infrastructure bottlenecks that keep supply from reaching key markets.

• Residential electricity rates rose 5.1% YoY, and piped gas jumped 11.7%, leaving consumers expected to pay about 4% more than in 2024.
• The US shipped a record 9.41M metric tonnes of LNG in September, up nearly 20% from last year and headed mainly to Spain, France, the UK, and the Netherlands.

The political heat rises: Investors are still cashing in, with industrial stocks ArganAGX

and Solaris Energy InfrastructureSEI

up 122.8% and 82.7% YTD, respectively. North America’s growing gas exports are bringing back higher and more volatile prices at home, a win for producers and a hit for households. With Gulf Coast LNG capacity set to double by 2030, prices will stay elevated and test whether Trump’s energy dominance strategy helps consumers or simply lifts industry revenues.