Texas – Page 4 – Oil & Gas 360

Six state races to watch that will help define US energy transition

November 8, 2022

World Oil (Bloomberg) – Months after the Biden Administration passed sweeping climate legislation, the battle to determine how quickly the US transitions away from fossil fuels hinges in part on local and state-level ballots. In some races, voters are choosing between gubernatorial candidates with opposing ideas on climate change, while others will pick state regulators who will decide whether to

Texas natural gas prices sink close to zero

October 24, 2022

Oil Price While U.S. natural gas futures gained more than 4% on Monday, natural gas in the Waha part of the Permian Basin was falling and trading close to zero, traders told Bloomberg on Monday. Flourishing natural gas production in the Permian has swamped pipelines, putting an undue burden on takeaway capacity, resulting in an oversupply situation that has

State oil and gas regulatory chairman commends industry’s contribution to Texas

September 6, 2022

World Oil AUSTIN – Texas Comptroller Glenn Hegar announced the Fiscal Year 2022 (FY 22) state revenues highlighting that the oil and gas industry paid record-breaking taxes to the state. The oil production tax generated $6.36 billion up 84% from FY 2021, while the natural gas production tax generated $4.47 billion up 185% from last year. Following the report, Railroad

Texas to begin plugging 800 orphaned wells with $25 million of federal funding

August 26, 2022

World Oil WASHINGTON — The Department of the Interior announced that Texas has been awarded an initial grant of $25 million from the Infrastructure Investment and Jobs Act to begin work to plug, cap and reclaim orphaned oil and gas wells across the state. The state of Texas has indicated that it will utilize this funding to plug 800 documented wells, which were selected

Oil and gas production creates record tax revenue for State of Texas

July 7, 2022

World Oil AUSTIN – Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas industry following the Texas Comptroller of Public Accounts’ announcement of record-breaking tax revenues from the industry. “Despite President Biden’s delusional desire to transition away from fossil fuels, Comptroller Hegar’s announcement reinforces the fact that oil and gas literally fuels every facet of our lives

Texas oil and gas regulatory chairman applauds Supreme Court’s rollback of EPA overreach

July 1, 2022

World Oil AUSTIN – The U.S. Supreme Court’s decision on the Environmental Protection Agency’s (EPA) federal overreach with the Clean Air Act is a win for good government, American energy producers and for hardworking taxpayers who simply need cheap, plentiful and reliable energy, Railroad Commission of Texas Chairman Wayne Christian said. “SCOTUS is on a roll and continues to get

Texas proposes rules to ready natgas industry for weather emergencies

June 29, 2022

Reuters The Texas Railroad Commission, which oversees the state’s oil and natural gas industries, approved a proposed weatherization rule to help protect Texans during emergencies that could occur any time of the year. The proposed rule is the latest in a series of regulations to avoid another energy emergency like the 2021 February freeze that left millions of Texans without

Texas power use hits monthly record again with many more to come

June 1, 2022

US News Power demand in Texas reached the highest level ever recorded in the month of May on Tuesday and will likely break the record for June on Wednesday as economic growth boosts overall usage and hot weather causes homes and businesses to crank up their air conditioners. The Electric Reliability Council of Texas (ERCOT), which operates the grid for

Texas Bitcoin miners seek tax break for using trapped well gas

March 31, 2022

World Oil (Bloomberg) — The Texas cryptocurrency industry is lobbying state lawmakers to introduce legislation that would eliminate taxes on sales of flared gas that’s used to mine Bitcoins, seeking to reduce costs and lure more miners to the Lone Star State. The Texas Blockchain Council, the crypto industry’s lobbying arm, wrote a draft bill that it hopes will be introduced in the

Texas asks 19 finance firms for details on fossil-fuel stances

March 17, 2022

World Oil (Bloomberg) — Texas is seeking information from more than a dozen major finance firms on whether their operations discriminate against the fossil-fuel industry. The state’s comptroller wrote to 19 businesses seeking clarification of their fossil-fuel investment policies and procedures. Any company that fails to respond within 60 days “will be presumed to be boycotting energy companies,” according to

Texas, 14 other states sue EPA over ‘war against Texas oil and gas’

March 1, 2022

World Oil Texas Attorney General Ken Paxton is leading a 14-state coalition challenging the Biden Administration’s Environmental Protection Agency (EPA) regulations on vehicle emissions. Paxton says President Joe Biden’s ‘bureaucratic decrees’ micromanage cars’ and trucks’ greenhouse gas emissions, which exceeds the EPA’s authority and violates the Constitution’s separation-of-powers principles. “At a time when American gas prices are skyrocketing at the pump,

Texas natural gas production falls as freezing weather sets in

January 21, 2022

World Oil (Bloomberg) –Texas natural gas production dropped for the second time this month because of freezing temperatures settling over the state. Output on Thursday was down 6.2%, according to preliminary BloombergNEF data based on pipeline flows. That’s the biggest decline since Jan. 2, when a similar blast of frigid air curbed supplies. “It’s a safe assumption to call freeze-offs,”

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