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The Latest Breaking News from Ed Hirs

What soaring gas prices mean for Texas and how long it could take for costs to come down

Here’s what you should know about the market forces at play and what higher prices mean for oil companies and the state.

The Texas Tribune

As Trump pitches Venezuelan oil dream for US companies, experts warn it won't be cheap or easy

President Trump has set his sights on Venezuela's vast oil reserves, the largest in the world. If consolidated under Washington’s influence, about one third of global oil reserves could end up under US control. Yet, experts are skeptical about Trump's plans, saying it won't be cheap or easy.

Euronews

Texas launches cryptocurrency reserve with $5 million investment

Lawmakers created a state Strategic Bitcoin Reserve earlier this year and dedicated $10 million to investing in cryptocurrency.

The Texas Tribune

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The roughneck is slowly disappearing from the oilfield as AI and automation take over

Many thousands of energy jobs are shed amid lower oil prices, efficiency gains, consolidation, and the advent of autonomous AI drilling and fracking operations.

Fortune

August increase in Mexico tariffs could strain Texas economy

A vast majority of trade between Mexico and the U.S. has been exempt from tariffs for months. That could change on Monday.

The Texas Tribune

Data centers are building their own gas power plants in Texas

Not long ago, developers of the massive server farms talked about powering them with wind and solar energy. Now they’re bypassing the grid and building their own gas-fired power plants on site.

The Texas Tribune

Inauguration Day is nearly here. These are the promises Trump made for ‘Day One’ in office

Trump promised to take action on 59 different issues ‘on day one,’ according to analysis of pledges made on the campaign trail

The Independent UK

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CenterPoint draws state ire after Hurricane Beryl power outages. Here’s what you need to know.

Following Hurricane Beryl’s large-scale power outages, state officials launched an investigation and legislative hearings to scrutinize CenterPoint’s response after the storm.

The Texas Tribune

Texas governor criticizes Houston energy as utility says power will be restored by Wednesday

The Houston area’s main utility company says it expects to have power restored to most residents by Wednesday

The Independent UK

Texans are falling behind on their light bills — especially during extreme heat

One organization helping Texans pay their electric bills said the average household was $1,400 behind.

The Texas Tribune

Texas A&M System wants a network of power plants on its land across the state

A new state energy fund will offer low-interest loans to companies that build new power plants.

The Texas Tribune

Biden sent private message to Tehran amid airstrikes: ‘We’re well-prepared’

After second night of US-UK strikes in Yemen against Iran-backed Houthis, fears of wider regional conflict grow

The Guardian - US

Texan Bitcoin miners profit by using less electricity; advocates say all Texans should get the same chance

Bitcoin miner Riot Platforms made headlines over the summer for making millions by selling pre-purchased power back to the grid. The news highlighted how the grid can benefit businesses more than consumers.

The Texas Tribune

Texas grid faces winter after failed attempt to get more power online

Industry experts continue to argue over whether the electricity market in Texas needs to change to make the grid more reliable in winter and summer.

The Texas Tribune

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The Texas Tribune

In trying to close its coal power plant, Austin encounters obstacles to going green

The city approved a plan in 2020 to shut the Fayette Power Project plant with the aim of eliminating carbon emissions. But political, economic and technological forces have gotten in the way.

The Texas Tribune

How ERCOT is narrowly getting through an extreme summer — and how experts say it could do better

Record-high power demand and faltering electricity sources have tested the grid in the past month, forcing the Electric Reliability Council of Texas to dig deep into its toolbox to keep power flowing.

Texas Observer

Texas Wastes Renewable Energy During June Heatwave

Solar & wind input is setting records, but ERCOT's inefficient grid can't handle the full load it could deliver in an ongoing heat wave.

Salon

Texas grid holds amid record demand

As freezing temperatures enveloped Texas, demand for electricity Friday morning shattered peak expectations

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The Texas Tribune

Texas power grid holds amid record winter demand, but test isn’t over

At least one person died in the freezing weather. High demand for electricity is forecast to continue into Saturday.

Los Angeles Times

California repeatedly warned about fragile gas supply, spiking prices. But fixes never came

LOS ANGELES — California officials have had repeated warnings over the last two decades that the state’s unique blend of gasoline is susceptible to supply shortages and sharp price spikes.

The Guardian - UK

Biden administration angered by Opec+ oil output cut

Senior figures see decision as a slight on the US and a sign that the oil producers club is aligning with Russia

Roll Call

OPEC production cuts add fuel to domestic energy debates - Roll Call

Lawmakers said OPEC's move to cut oil production underscores the need to break from fossil fuels, but they disagree on how.

Tribune News Service

Beto O’Rourke, other Texas Democrats say they can fix the grid. Here’s what experts think

AUSTIN — Beto O’Rourke and Mike Collier want to talk about Texas’ power grid.

The Guardian - US

Biden’s proposed federal tax cut on gas could cost dearly in the future

Experts warn cutting the 18 cents will take a toll on highway upkeep and cause prices to rise further when the holiday ends

People

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