Total U.S. oil production has plunged by one-third -- the most ever --

[Green Man]

BLOOMBERG - Total U.S. oil production has plunged by one-third -- the most ever -- as an unprecedented cold blast freezes well operations across the central U.S., according to traders and industry executives with direct knowledge of the operations.
Crude output has now fallen by about 3.5 million barrels a day or more nationwide, they said, asking not to be identified because the information isn’t public. Before the cold snap, the U.S. was pumping about 11 million barrels a day, according to last government data. Production in the Texas’s Permian Basin alone -- America’s biggest oil field -- has plummeted by as much as 65%.
Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd., said the production losses were “much higher than initial estimates” and warned that Permian output may not return to pre-freeze levels until Feb. 22.
“As producers need pipes to be fully running and power prices to normalize before they return production, a substantial return in production may not occur until this weekend at the earliest,” she said in a note to clients.
Operations in Texas have stumbled because temperatures are low enough to freeze oil and gas liquids at the well head and in pipelines that are laid on the ground, as opposed to under the surface as practiced in more northerly oil regions. The big question now is how quickly temperatures return to normal.
The huge scale of the disruption has helped oil prices to rise to their highest so far this year. It’s also threatening to starve oil refineries, although such is the chaos in Texas right now that many of the largest plants have already had to shut down.
Among the companies hit by outages is Occidental Petroleum Corp., the second-largest producer of oil in the Permian, which has issued a force majeure notice to suppliers, and Chevron Corp., which has shut in compression and production at wells in Culberson County in West Texas due to cold weather.

[Pastor Guest]

Two of the many things you can count on when Democrats are in power are short supply and higher prices.

[naturallysweet]

Bidet's America

[Green Man]

As first reported by Reuters[COLOR=rgba(2, 20, 31, 0.85)], the market prices on the power grid spiked more than 10,000 percent on Monday in the aftermath of the deep freeze. Prices skyrocketed to more than $9,000 per megawatt-hour—compared to the pre-storm prices of less than $50 per hour.

[/COLOR]https://www.thedailybeast.com/dollar5152-power-bill-texas-winter-storm-hell-only-gets-worse?ref=home

IIRC, the Texas grid generally doesn't have connections with those of neighboring states.

[Ivan88]

There was some excuse making double talk guru for the electric grid in Texas talking about 12,000$ per whatever unit he was using.
Obviously they are all in on the fraudulent scams of "green" stuff and the Globull warming racket.

Also heard that since Americans are too stupid to keep their oil production going, the Chinese are buying up a lot of oil production fields' capacity & output.

[Green Man]

Texas uses mostly natural gas for electrical generation. Natural gas contains a lot of water vapor. With continued severe cold, without protection, the water vapor freezes up in the pipes near the wellhead. It's an unregulated marketplace for NG and electricity and Texas can't import much electricity, leaving the state vulnerable to market swings.

Fresh raw crude coming out of the ground also has moisture in it. Unless provisions for cold weather are made, the same thing happens. Unlike Texas' grid problem, oil problems with production are a national problem.