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Brutal winter storms in Texas have knocked out power for thousands, underscoring the need for large investments in U.S. infrastructure one industry insider thinks.
Former HUD Secretary Henry Cisneros joined Yahoo Finance Live to break down why what's happening in Texas is a prime example of why the government needs to invest more money into infrastructure.
Above-ground lines cost around $10 per 1-foot (0.30 m) and underground lines cost in the range of $20 to $40 per 1-foot (0.30 m). [10] In highly urbanized areas, the cost of underground transmission can be 10–14 times as expensive as overhead. [11] However, these calculations may neglect the cost of power interruptions.
The gas industry is not similarly preparing to ensure operation and is resisting regulation by the Railroad Commission of Texas, which oversees the oil and gas industry but whose commissioners' campaigns are funded by it. [22] Gas production fell by 25% on January 2, 2022, when temperatures in West Texas fell to 14 degrees. [22]
The Texas Interconnection is an alternating current (AC) power grid – a wide area synchronous grid – that covers most of the state of Texas. The grid is managed by the Electric Reliability Council of Texas (ERCOT). The Texas Interconnection is one of the three minor grids in the North American power transmission grid.
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Meanwhile, manufactured gas was more commonly used than natural gas in the early 19th century, first introduced in Baltimore in 1816 with underground pipes laid starting in 1851. [6] Gas plants could be sited within cities, and many major U.S. cities such as New York, Chicago, San Francisco had gas distribution lines for manufactured gas by the ...
HOUSTON (Reuters) -About 1.5 million customers remained without power in Texas on Wednesday, two days after Hurricane Beryl raked the state, as progress to restore electricity was slow, hampering ...