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Houston man hit with $2,700 power bill after snowstorm

Houston man hit with $2,700 power bill after snowstorm
Yueqi Yang and Naureen S. Malik, Bloomberg
Feb. 22, 2021
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HOUSTON, TEXAS - FEBRUARY 21: The U.S. and Texas flags fly in front of high voltage transmission towers on February 21, 2021 in Houston, Texas.Justin Sullivan/Getty Images
(Bloomberg) After enduring a wretched week of Arctic storms, hunger and cold, several Texans lucky enough to have power were handed another pain point massive electricity bills.
Houston resident David Astrein, 36, a human resources director at a manufacturing company, said he’s been charged $2,738.66 for 20 days this month versus $129.85 for the whole of January for a three-bedroom home with a detached garage. He and his wife stopped using their dishwasher, washer and dryer, and turned on as few lights as possible at night. They kept the heat on for their 5-month old son. ....

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Oil's gains evaporate as wells restart

Oil s gains evaporate as wells restart
Sharon Cho and Alex Longley, Bloomberg
Feb. 19, 2021
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Idle oil rigs in Texas are expected to soon see action in Texas as the price of crude rises to near $60.Matthew Busch/Bloomberg
Oil fell for a second day as production slowly restarted in Texas and the White House said it would be willing to meet with Iran, potentially paving the way for more crude exports from the Persian Gulf nation.
Futures in New York dropped toward $59 a barrel. Companies are using restored power from grids or generators to resume output that was halted by the frigid weather, according to people familiar with the matter. The timeline for a full restoration of the estimated 40% or so of U.S. oil production that was shut in by the big freeze is unclear. ....

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Big freeze in Texas becoming a global oil market crisis

Big freeze in Texas becoming a global oil market crisis
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Gulf Coast fuel makers could be shut for another week

Gulf Coast fuel makers could be shut for another week
Barbara Powell and Jeffrey Bair, Bloomberg
Feb. 18, 2021
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Restarting a refinery isn’t like flipping a light switch when the power comes back on.Brandon Thibodeaux/NYT
Fuel makers on the U.S. Gulf Coast may take a week or longer to get their frozen oil refineries running safely, even if at reduced rates, and that could mean higher gasoline and diesel prices at the pump.
The deep freeze and power outages roiling energy markets affected more than 20 oil refineries in Texas, Louisiana and Oklahoma. Crude-processing capacity fell by about 5.5 million barrels a day, according to Amrita Sen, chief oil analyst for consultant Energy Aspects Ltd. ....

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Jerry Jones' gas company 'hits jackpot' with surge during Texas power outages

Jerry Jones gas company hits jackpot with surge during Texas power outages
Sergio Chapa, Bloomberg
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FILE: Jerry Jones, owner of the Dallas Cowboys, looks on before the game against the Washington Football Team at FedExField on October 25, 2020 in Landover, Maryland. (Photo by Patrick McDermott/Getty Images)Patrick McDermott/Getty Images
(Bloomberg) The natural gas producer owned by Dallas billionaire Jerry Jones is cashing in on a surge in prices for the fuel as a brutal freeze grips the central U.S., leaving millions without power.
Comstock Resources Inc. has been able to sell gas from its Haynesville Shale wells in East Texas and northern Louisiana at premium prices since Thursday. As demand jumps amid the cold, gas at some regional hubs has soared past $1,000 per million British thermal units. ....

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