As recently as March, the ERCOT power grid experienced record levels of wind and solar generation. As a result, along with milder-than-seasonal temperatures, the state’s gas-fired generation has dropped, reducing gas demand.
Texas, and of course Louisiana, have been the “major hubs” for both crude oil and natural gas since the introduction of hydraulic fracturing technology and the dramatic growth in U.S. oil/gas production that has had (and continue to have) a significant impact on the global energy market.
Now, Texas, is no longer just a “hub” for crude oil and natural gas trading, but is becoming an “epicenter of the changing dynamics of the so-called “energy transition” and toward a new era of global energy business/markets where fossil fuels and renewable energy coexist and compete in the generation of electricity, and a mecca for companies and individuals in the industry”.
CLAVIS ENERGY PARTNERS LLC