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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.
The price of natural gas is up 176% since its 2024 intra-day low reached in mid-February and up about 90% since its early August lows. Cold weather forecasts for January spark a 24% surge in ...
To cover debt incurred due to high natural gas prices, utilities outside Texas have had to raise prices. Oklahoma Natural Gas is charging customers up to $7.80 per month for the next 25 years to securitize its costs of $1.4 billion during the crisis. [138] The natural gas industry reaped a windfall profit of $11 billion during the crisis. [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.
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 ...
As winter weather becomes more extreme, demand on Texas' grid is rising. On Jan. 16, Texas saw its biggest winter spike in demand, with a peak of more than 78,400 megawatts.
The Texas LNG project is a multi-decade liquid natural gas shipping terminal project near Brownsville, Texas. It has been in the planning stages since the early 2010s and, as of 2019, gained regulatory authority approval for construction and operation in the 2020s, with initial export shipments as early as 2025.