Articles by tag: Oil Production
OPEC’s longstanding warnings about global underinvestment in oil and gas production are now juxtaposed with an uptick in the energy industry’s spending. In fact, Goldman Sachs reports there has been a 25% increase in major oil and gas production projects since 2020, amounting to 70 projects. The U.S. stands in stark contrast to this…
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The Permian Basin Development Makes New Mexico a Critical Player in U.S. Oil Production
Amidst an ongoing boom in crude oil production in the Permian Basin, an unanticipated focal point has arisen: New Mexico. Over the last two years, the state has contributed to an astonishing 50% of the total increase in oil production from this prolific oil and gas region. The stakes are high, and the unique…
Energy
Why Was the Texas Energy Grid Unprepared for a Major Winter Storm?
A snowstorm and brutal cold hit an unprepared energy system and left nearly five million energy customers in Texas, North Dakota, Arkansas, Louisiana and Mississippi in the dark. Power companies in affected states had to resort to rolling power blackouts to save their networks from collapsing, leaving households and businesses without power and heat. In…