Restrictions on FF production in Texas! Clickbait?
Posted: Fri Mar 10, 2023 1:45 pm
Really not sure how to take this article. It sounds almost unbelievable, but fascinating.
Potential restrictions that would harm oil and gas fracking in Texas, being considered in El Paso.
Ironically, frack gas and oil in the US, is probably helping us in Europe at the moment, by supplying expensive LNG, but cheaper than peak gas prices. And also helping to reduce demand for Russian oil. These are temporay issues, hopefully in 2-5yrs we'll be able to reduce demand for gas and oil in Europe enough to make up for the reduced supply, at which point US fracking may be in more financial trouble than it was before prices spiked.
Texas youth organizers take aim at the biggest oil field in the world
Potential restrictions that would harm oil and gas fracking in Texas, being considered in El Paso.
Ironically, frack gas and oil in the US, is probably helping us in Europe at the moment, by supplying expensive LNG, but cheaper than peak gas prices. And also helping to reduce demand for Russian oil. These are temporay issues, hopefully in 2-5yrs we'll be able to reduce demand for gas and oil in Europe enough to make up for the reduced supply, at which point US fracking may be in more financial trouble than it was before prices spiked.
Texas youth organizers take aim at the biggest oil field in the world
A first-of-its-kind municipal climate charter in Texas could throw a wrench in US fossil fuel extraction. Residents of a major Texas city just west of the Permian Basin, the largest oil field in the US, will have the chance to vote on the package this spring.
If the proposal passes, the city of El Paso would adopt a comprehensive climate policy that would include prohibiting the use of city water for extraction projects outside city limits, such as in the Permian Basin, which makes up roughly 40% of all US oil production.
“El Paso is on the verge of potentially passing one of the most progressive pieces of climate legislation in the country,” said Deirdre Shelly, campaigns director for the national Sunrise Movement.
Proponents say the climate charter would prepare El Paso to withstand extreme weather events and accelerate the city’s transition to renewables, requiring 80% of its energy to come from carbon free sources by 2030. It also encourages rooftop solar development, proposes establishing a climate department and could move the ownership of El Paso Electric into the city’s hands. The utility company was purchased in 2020 by a JP Morgan-tied fund.
“We’re battling the fossil fuel giants in our community,” said Ana Fuentes, a 25-year-old resident of El Paso and a campaign manager for the local Sunrise chapter. “This charter would allow people to have the platform and a space where our concerns will be prioritized over the bottom line of fossil fuel oligarchs.”