The Briefing Room
State Chapters => Texas => Topic started by: Elderberry on February 19, 2021, 01:07:29 pm
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Oil Price by Julianne Geiger - Feb 18, 2021
The narrative this week has quickly shifted from stimulus hopes, vaccines, and virus mutations to what is now known as the Texas Freeze--and the energy market has been turned upside down as these low temperatures continue to rock the Lone Star State that is woefully underprepared for such a rare event.
And everyone--particularly those suffering the effects of the catastrophic freezing temperatures--understandably wants to know who to blame, aside from Mother Nature.
Temperatures in Dallas, Texas, have sunk to below zero. While typical for a state such as Michigan, where attics and water pipes are insulated, snow plows and generators are standard issue, and residents know what to do to keep their pipes from freezing, Texans are understandably not accustomed to such inclement weather. Neither is their energy infrastructure.
The catastrophic result of the Texas Freeze cannot be overstated.
If you want to see what the freezing temperatures mean for Texas residents, one need only to take a stroll through Twitter this week.
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Texas Governor Greg Abbott (R) today issued an order that prevented all natural gas producers to stop selling to anyone outside Texas. The order will last until February 21. It’s likely that this will cause a crisis in Mexico, who relies on gas to generate about 60% of all its power.
More: https://oilprice.com/Energy/Energy-General/What-The-Is-Happening-In-Texas.html (https://oilprice.com/Energy/Energy-General/What-The-Is-Happening-In-Texas.html)