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Despite the massive cutbacks, Texas in 2015 likely broke the state’s 43-year-old record for crude oil production.
The new “Freeing the Grid” report from Vote Solar and the Interstate Renewable Energy Council also gave Texas a “D” grade on its interconnection policies, which are the rules customers follow to “plug” their renewable energy generation into the grid.
The 35 percent capital budget cut from last year comes amid the ongoing oil crash and just two weeks after Moody’s Investor Service downgraded Williams’ credit rating. Williams said it is slicing its capital budget from $3.3 billion down to $2.1 billion for the year.
Texas manufacturing activity fell the fastest in 11 years this month as crude prices crashed and the dollar rose, the Federal Reserve Bank of Dallas said Monday, after several months of reporting signs of an impending slowdown.
The Houston area sees an average of just $1.61 per gallon of regular unleaded gasoline on Monday, which is down more than 4 cents in a week, while the national average dropped 6.5 cents to $1.82 a gallon, according to GasBuddy survey data. Texas overall is averaging $1.62 a gallon.
Costco sold gasoline 20 cents per gallon lower than its competitors throughout 2015 and offered the cheapest prices in 12 states, including Texas.
Kinder Morgan’s Trans Mountain project would nearly triple pipeline capacity from 300,000 to 890,000 barrels of crude oil a day. It would carry oil from Alberta’s oil sands to the Vancouver area to be loaded on to barges and tankers for Asian and U.S. markets.
The chairman of Saudi oil giant Saudi Aramco was quoted as saying a possible initial public offering would not include the kingdom’s oil reserves.
Santa Barbara County planners are expected to decide in about a week whether to grant Exxon Mobil Corp.’s latest request to use trucks to move more than 17 million gallons of oil stranded in storage after the pipeline shut down in May after the break.
hearing board of the South Coast Air Quality Management District issued the order Saturday