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The U.S. power grid isn t prepared for severe weather. This vulnerability will become more acute as climate change worsens extremes and if the grid doesn t adjust to managing more renewable energy.
This summer is reflective of the tensions extreme weather is bringing to bear on the electricity system. Last month, grid operators in both Texas and California asked people to conserve power, fearful of having to impose outages on high-demand hot summer days. In addition, California energy regulators announced on July 1 they would procure additional energy resources from out of state throughout the summer to ensure the lights stay on.
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These days, the term “green energy” has quickly evolved from a potential new resource avenue to political lighting rod — especially in Hous
A mid-sized oil and gas operator exited the Permian Basin, selling its assets in the region that spans West Texas and southeast New Mexico and shifting its primary operations to the Bakken region in North Dakota.
Oasis Petroleum announced on May 20 it entered into multiple agreement to sell the Permian assets for a total of $481 million, including $406 million at closing of the sale and $25 million in contingent payments in 2023, 2024 and 2025 assuming the price per barrel of West Texas Intermediate (WTI) – a grade of crude used as a domestic pricing benchmark – averages $60 each year.
The main transaction was expected to close in June.
21 April 2021 11:51 GMT Updated 21 April 2021 11:51 GMT in Houston
US supermajor ExxonMobil has proposed to establish a carbon capture and storage(CCS) hub for the industrial area along the Houston Ship Channel, requiring a combined investment of $100 billion or more.
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The hub, or “Innovation Zone”, would bring together all levels of government, academia, and the private sector to create a multi-user CCS system, aiming to “effectively capture all the carbon dioxide emissions from the petrochemical, manufacturing, and power generation facilities” in the area, said Joe Blommaert, president of ExxonMobil’s new low-carbon business, in a 19 April blog post.