The oil price needed to profitably drill wells has tracked with prices for long-dated oil futures out to five years, with Lower 48 output appearing to play an outsized role in anchoring prices, according to the Federal Reserve Board of Dallas, aka the Dallas Fed.
Extreme cold in Texas, which caused power plants and gas pipes to freeze last February, was the reason state agencies adopted new power plant winterization and other rules to avoid a repeat of last winter's energy emergency.
By Scott DiSavino (Reuters) - Nearly all of Texas' electric generation units and transmission facilities have passed the state's new winterization rul.