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Oil and gas interests left to "self-regulate" in aftermath of winter storm

Oil and gas interests left to self-regulate in aftermath of winter storm
ERIN DOUGLAS, The Texas Tribune
March 5, 2021
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After being battered by withering criticism of its management of the power grid during last month’s winter storm, the Electric Reliability Council of Texas saw several of its board members resign and fired its CEO. The chair of the Public Utility Commission, which oversees the grid operator, was forced to resign.
The political fallout from the long-lasting Texas power outages have hit both entities hard after Gov. Greg Abbott blamed ERCOT’s leadership for the near-collapse of the electric grid and made its reform a legislative priority, and state lawmakers hammered the PUC for what they called a failure of oversight. ....

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TEXAS POWER GRID HEARINGS: Natural gas suppliers, power plants blame each other

TEXAS POWER GRID HEARINGS: Natural gas suppliers, power plants blame each other
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Lawmakers listen as Bill Magness, President and CEO of the Electric Reliability Council of Texas (ERCOT), testifies as the Committees on State Affairs and Energy Resources holds a joint public hearing to consider the factors that led to statewide electrical blackouts, Thursday, Feb. 25, 2021, in Austin, Texas. The hearings were the first in Texas since a blackout that was one of the worst in U.S. history, leaving more than 4 million customers without power and heat in subfreezing temperatures. (AP Photo/Eric Gay)Eric Gay, STF / Associated PressShow MoreShow Less ....

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Winter 2021 wrought the power crisis of a lifetime. Will it spur reform?

Winter 2021 wrought the power crisis of a lifetime. Will it spur reform?
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West Belfort Street stretches west in the Westbury neighborhood, Monday, Feb. 15, 2021, in Houston.Mark Mulligan, Houston Chronicle / Staff photographerShow MoreShow Less
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Drew Thomas, center, waits outside with others to pick up takeout from a Panda Express restaurant along FM 1960. Thomas lost power and had no way to cook.Melissa Phillip, Houston Chronicle / Staff photographerShow MoreShow Less
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Bright Star Solutions utility line contractors work on power lines for a nearby subdivision in Montgomery.Jason Fochtman, Houston Chronicle / Staff photographerShow MoreShow Less
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Electricity grid operators in Texas knew the approaching polar vortex would test tight supplies, but they were confident the market would meet the challenge. ....

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Arctic blast delivers historic blow to U.S. oil output

Arctic blast delivers historic blow to U.S. oil output
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Perfect storm: Energy supply chain slashed by extreme weather

Perfect storm: Energy supply chain slashed by extreme weather
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“These extreme weather conditions impacted every aspect of the Texas energy supply chain,” said Todd Staples, president of the Texas Oil and Gas Association.Eli Hartman, MBI / Associated Press
Texas natural gas producers struggled to keep up with record demand during the historic winter storm that wreaked havoc on the state’s electricity grid and plunged millions of residents into frigid darkness.
The companies were challenged by power outages to oil and gas operations, freezing temperatures that immobilized and damaged equipment, and hazardous road conditions that hampered access to well sites. These factors caused the state’s crude production to fall by an estimated 2 million barrels per day and natural gas production to plummet by as much as 7 billion cubic feet per day, according to Bloomberg Intelligence and S&P Global Platts. The losses deprived Texas power plants of th ....

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