Oil News Roundup! (Nov 13, 2022)
In an effort to track the latest news about the oil/energy sector and the future of Houston, I've reviewed articles from the past week. In short, it looks as though local oil and gas companies are having extraordinary profitable years due to the impact of the Ukraine war on supplies and their reluctance to invest further. Also competing views on future energy regulations continue to be a significant political point of contention. 1. The Dallas Fed held an event on energy and the economy. Of note, are comments that: the oil and gas sector is producing at 60% of pre-pandemic levels oil and gas leaders blame - labor shortages, pipeline capacity, lack of new oil and gas investment (primarily due to environmental pushback), oil company tentativeness to expand given recent busts, ESG benchmarks decoupling "prices and products" 2. Several states have set targets to switch homes to 100% electric heating systems, to reduce reliance on natural gas. ...