2-17-26

Texas Energy Report NewsClips

Tuesday February 17, 2026

Asterisk (*) denotes news stories that may be inaccessible because portions are behind a paywall

Good morning! Here are today’s Texas Energy Report NewsClips

West Texas Intermediate crude was at $63.51 a barrel, up 62 cents, or 0.99%, but the move included all of Monday’s price action as the contract did not have settlement that day due to the U.S. Presidents Day holiday.

Brent crude futures were down 0.47%, or 32 cents, at $68.33 a barrel by 0430 GMT, following a 1.33% gain on Monday.

Top Stories

February 15, 2026

Shell Names the Risks and Discounts Them to Zero: Art Berman (blog)

Shell describes the world we live in, models a different one, and doesn’t seem to notice the mismatch. Its 2026 Energy Security Scenarios lays out the constraints of our planetary predicament with unusual clarity. It starts from a premise I agree with: the world is changing fast enough that business-as-usual modeling is no longer useful. Geopolitical and social tensions, a fragmenting world order, and growing uncertainty about growth, trade, and supply chains complicate energy supply and demand. Add AI-driven electricity demand, climate disruption, and the legitimate aspirations of billions in the developing world, and complexity only intensifies.

Then the report pivots. From that realistic starting point, Shell’s modeled outcomes read like technological wish-fulfillment: sustained global GDP growth above 3% per year, electricity becoming the dominant form of energy by mid-century, EVs as the default car, and commercial nuclear fusion in barely more than a decade.

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Bloomberg – February 16, 2026

Gasoline-Starved California Is Turning to Fuel From the Bahamas

US supplies of gasoline are being shipped out of the country to travel thousands of miles via the Bahamas before finally ending up in California, a state battling shrinking fuelmaking capacity and high pump prices. Shipments on the circuitous route are increasing. California imported more gasoline in November than ever before, with more than 40% coming from the Bahamas. The lengthy journey adds another layer of cost to California’s already expensive gasoline market. Yet the phenomenon isn’t likely to disappear soon, thanks to a combination of disappearing oil refineries, a lack of interstate pipelines and a loophole in a 106-year-old maritime law.

California has among the strictest environmental regulations in the US, making it costly for energy companies to operate in, though a wave of upcoming refinery closures is prompting officials and regulators to soften their stance. On average, the closures could raise the cost of gasoline for consumers by between 5 and 15 cents a gallon, said Patrick De Haan, GasBuddy’s head of petroleum analysis. After Phillips 66 shuttered its Los Angeles refinery in October, gasoline imports climbed in 2025 to the highest level since at least 2016, Vortexa data show.

With Valero Energy Corp. set to close a Northern California refinery this spring, and no fuel pipelines connecting the US Gulf’s oil-producing powerhouse to the West Coast, the nation’s most populous state will likely depend on imports to bridge the gap. Under the Jones Act, any goods shipped between US ports must travel on US-built, owned and operated vessels. Those tankers are in short supply and expensive to charter. There are about 55 Jones Act-compliant oil tankers worldwide, compared with more than 7,000 oil tankers globally.

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KOAT – February 16, 2026

New Mexico weighs energy future as demand grows

Electricity demand is growing across the country and here in New Mexico. In the southeast, particularly the Permian Basin in Lea and Eddy counties, Xcel Energy says the region has seen a surge in electricity demand in recent years. Jarred Cooley, Xcel Energy’s Senior Director of Strategic Planning, said the growth is being driven by oil and gas activity, increased electrification in the field, and community growth. By electrification, Cooley means more oil and gas sites are plugging into the electric grid, using electricity to run equipment that used to be powered on-site.

“If it’s smaller loads, then we’re able to roll that into our typical build-outs, whether it’s building new distribution facilities to the locations or, in some cases, building new transmission,” Cooley said. But he said the biggest challenge is speed. The company said its working through regulatory processes and has generation and transmission projects in progress, while also trying to balance reliability and affordability as demand rises.

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S&P Global Platts – February 16, 2026

US plans new port fees on foreign ships, prompting shipping industry worries

The US has announced a new proposal to impose port fees on foreign ships as part of its shipbuilding revival project, prompting renewed concerns among shipowners about inflation and market distortions. On Feb. 13, the White House unveiled “America’s Maritime Action Plan” that includes a “universal infrastructure or security fee” on commercial ships built in foreign countries, which will be contributed to “Maritime Security Trust Fund” to support US shipbuilding and other maritime projects.

Without detailing the fee structure, the White House stated this proposal could involve a fee of 1 cent per kilogram on foreign-built ships, yielding roughly $66 billion in revenue over 10 years, or a fee of 25 cents per kilogram, yielding close to $1.5 trillion.

The Latest TERse Tips

China increased its support for Russia’s war in Ukraine in 2025 and is likely to deepen cooperation with Moscow further this year, Western officials said, casting doubt on efforts by European leaders to improve relations with Beijing — Bloomberg*

Opposition to rural data centers growing strong — Texas Energy Report is told more than 80 people showed up for a townhall meeting in Boling, near Bay City in Matagorda County to discuss a planned data center nearby, and criticism of the plan was overwhelming, especially regarding proposed water usage and grid drain

Xcel Energy shared a notice with customers in the Panhandle for potential power shutoffs amid elevated wildfire risks this upcoming week — similar warnings were made in New Mexico and Colorado — KDLR

Last year, in an unanimous vote, Utah became the first state in the nation to pass a law allowing residents to plug small solar systems straight into a wall socket — these systems, which retail for around $2,000, produce enough electricity to power a laptop or small refrigerator — The New York Times*

Oil & Gas Texas

World Oil – February 16, 2026

Buccaneer reports production gains from East Texas oil recovery pilot

Buccaneer Energy has completed a pilot program testing organic oil recovery (OOR) technology at its Pine Mills field in East Texas, reporting improved production and reduced water cut in the treated area.   The pilot was conducted in the northern section of the field within the Battery 3 area and involved treatment of one water injector and two producing wells. Following the treatment, average production in the pilot area increased from approximately 15 bpd in early January to about 30 bpd during the post-treatment period, with output continuing at similar levels.

The OOR process involves injecting a nutrient mixture into the reservoir to stimulate naturally occurring microorganisms. These microbes alter interfacial properties within the reservoir, reducing the bond between oil and rock and improving the mobility of residual oil in mature waterflood systems. Buccaneer reported that one treated well experienced a significant reduction in water cut after treatment.

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Houston Chronicle – February 16, 2026

Oil and gas companies add more pipelines to Montgomery County. Here’s what to know.*

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Nasdaq – February 16, 2026

Chevron Secures Leases To Explore Four Blocks Offshore Greece

Chevron Corporation (CVX), through its four Dutch subsidiaries, together with HELLENiQ ENERGY Holdings S.A. (ELPE.AT), a Greek petroleum refiner, has inked lease deals with the Hellenic Republic to explore four blocks offshore Greece. Under the terms, the consortium will complete 2D and 3D seismic exploration works in phase one of the leases to assess the hydrocarbon potential of the areas.

The blocks are located south of Crete and within the Peloponnese.

The awarded consortium, in which Chevron holds a 70% operating interest and HELLENiQ a 30% interest, was selected after a tender  by the Greek government.

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Reuters – February 16, 2026

Australian court fines Exxon’s local petrol brand $11.3 million for misleading claims*

Federal Court of Australia has fined Mobil Oil Australia A$16 million ($11.3 million) over misleading claims about fuel sold at petrol stations in parts of Queensland, the country’s competition regulator said on Tuesday. Mobil Oil Australia supplies petroleum, diesel and other fuel products to retailers in Australia and is owned by oil and gas major Exxon Mobil

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Bloomberg – February 15, 2026

Mexico’s Cuba Obsession Puts Its President in a Bind With Trump*

Claudia Sheinbaum’s decision to halt oil shipments to Cuba is testing her standing within Mexico’s ruling party just over a year into her presidency, even as it staves off confrontation with Donald Trump. Mexico’s political left has seen Cuba as a source of inspiration ever since Fidel Castro and Che Guevara hatched the 1959 revolution in the nation’s capital. A trip to the island, not far from the Yucatan Peninsula, has since been a rite of passage for thousands of young Mexicans seeking to strengthen their ideological credentials.

The relationship between Cuba and Mexico, however, goes beyond youthful romanticism or political idealism. Havana’s clash with Washington after Castro took power helped form key pillars of Mexico’s foreign policy, including non-intervention, self-determination and pacifism. Which is why Sheinbaum is doing everything she can to avoid shunning the island entirely. Though it’s becoming a minority, the leftist wing of the governing Morena Party that supports Cuba and other socialist nations like Venezuela remains powerful, according to Viridiana Rios, a political analyst and columnist. “They are an important faction, no doubt,” she said in an interview. “They have a share of the presidential communication office, they have Mexico City, they have positions in Congress at the federal level.”

Oil & Gas National & International

Yahoo! News – February 15, 2026

A Huge Bet on Supertankers Reverberates Through the Oil Market

A niche but crucial part of the oil market is being rocked by a huge bet from a South Korean tycoon who has amassed a large share of the tanker market — with help from one of the industry’s wealthiest men. Over the past month or two, the Sinokor group has quickly moved to buy or charter a significant number of ships and now controls roughly 120 very-large crude carriers, according to estimates from several senior industry executives. Some market veterans said the huge position amassed by the company, overseen by shipowner Ga-Hyun Chung, is unprecedented in their experience.

But the Seoul-based shipping firm isn’t acting alone. At least two large ship owners that have recently negotiated vessel sales with Sinokor found that the final buyer was in fact an entity linked to Gianluigi Aponte, the founder of a sprawling shipping empire that includes Mediterranean Shipping Co. It’s not clear what the relationship between the two companies is, or how many of the other Sinokor deals have involved MSC.

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Business and Industry Connection – February 16, 2026

Enbridge says proposed Western Canada pipeline project too risky

Enbridge will not take on the development risk of building a proposed new oil pipeline from Alberta to Canada’s West Coast, CEO Gregory Ebel said Friday, noting the long timelines and shifting political landscape. Enbridge was selected by Alberta’s provincial government to provide technical and regulatory expertise related to a potential new pipeline, but Ebel said the uncertainty around the project made it difficult to justify committing significant capital.

“I don’t think investors or the infrastructure companies should be taking on all that risk of development in jurisdictions that have historically created challenges,” Ebel said on Enbridge’s earnings comference call, according to Bloomberg, adding the company does not need to pursue such opportunities given its existing slate of projects.

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CBS News – February 16, 2026

U.S. military boards another oil tanker after tracking it from Caribbean

U.S. military forces boarded another sanctioned tanker in the Indian Ocean after tracking the vessel from the Caribbean Sea in an effort to target illicit oil connected to Venezuela, the Pentagon said Sunday.

Venezuela had faced U.S. sanctions on its oil for several years, relying on a shadow fleet of falsely flagged tankers to smuggle crude into global supply chains. President Trump ordered a quarantine of sanctioned tankers in December to pressure then-President Nicolás Maduro before Maduro was apprehended in January during an American military operation.

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Inside Climate News – February 5, 2026

Looking Ahead to When Gas Stations Vanish

Sooner than you think, your city may be down to its last gas station, or, in large cities, the last few gas stations. They likely will be owned or heavily subsidized by the government because few businesses can be profitable selling a product whose demand is no longer growing. When will this happen? In regions with high penetration of electric vehicles, such as parts of California, it could be as soon as the mid-2030s.

I’m describing a near future in which electric transportation is becoming the market leader, but gasoline still has a share, albeit a declining one. Researchers have been saying for years that leaders need to plan ahead to reduce the harm that will follow when fossil fuel supply chains are hit by resource shortages, price spikes and business failures tied to falling demand. My main question, especially in this era of “drill, baby, drill,” is whether enough people are paying attention.

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SFGate – February 7, 2026

How America’s largest urban oil field ended up in a major California city

Although the pumpjack shots in [the movie] “L.A. Confidential” suggest a deserted oil field, some location likely far outside a city center, the real-life Inglewood Oil Field used in the film is flanked by several densely populated residential communities deep within the Westside [Los Angeles]. Sure, pumpjacks can be found elsewhere throughout LA, including farther down near Long Beach and hiding inside some fake city buildings, but at 1,000 acres (all just a stone’s throw from LAX), Inglewood Oil Field still holds the distinction of being the largest urban outpost of its kind in the United States.

In 2024, Gov. Gavin Newsom signed a series of bills meant to curb the oil and gas industry’s hold on California; one bill stipulated that the many wells that aren’t actively producing oil must be plugged by the end of the decade. The Inglewood Oil Field isn’t producing much these days — less than 15 barrels daily, according to the Los Angeles Times — meaning that under this new legislation, it’s set to cease operations by 2030.

Utilities, Electricity & Renewables

Associated Press/KXAN – February 14, 2026

As electricity costs rise, everyone wants data centers to pick up their tab. But how?

As outrage spreads over energy-hungry data centers, politicians from President Donald Trump to local lawmakers have found rare bipartisan agreement over insisting that tech companies — and not regular people — must foot the bill for the exorbitant amount of electricity required for artificial intelligence. But that might be where the agreement ends.

The price of powering data centers has become deeply intertwined with concerns over the cost of living, a dominant issue in the upcoming midterm elections that will determine control of Congress and governors’ offices. Some efforts to address the challenge may be coming too late, with energy costs on the rise. And even though tech giants are pledging to pay their “fair share,” there’s little consensus on what that means.

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Utility Dive – February 11, 2026

Growing demand will be met mainly by solar: EIA

Increases in electricity use are becoming more geographically broad, and new demand will be met mainly by increased solar generation, the Energy Information Administration said in its latest short-term energy outlook released Tuesday.

Increasing economic activity and data center development in Texas and the mid-Atlantic are largely driving are largely being driven by increasing economic activity and data center development in Texas and the mid-Atlantic, the agency said, but this month EIA increased its outlook for electricity consumption “in both the Central and Midwest regions because of raised expectations for data center expansion in those areas.”

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Cool Down – February 15, 2026

Chinese automaker unveils breakthrough tech that could revolutionize EVs: ‘Intensive’

Chinese automaker Dongfeng has developed a 350 watt-hour per kilogram solid-state battery that could change the future of electric vehicles. According to Interesting Engineering, the automaker created a test fleet of EVs with these batteries. It will evaluate them under “intensive winter calibration programs” in the Mohe region near China’s northern border.

The tests will examine the battery’s performance, stability, and durability in sub-zero conditions. Interesting Engineering said that the company will also monitor the EV’s driving range and charging performance. Efficiency, battery system integration, and structural safety are among the top priorities in the tests.

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Utility Dive – February 13, 2026

Transmission drives Exelon’s capital spending plan to $41.3B

Exelon expects transmission investments will be a key driver for its capital spending in the coming years, company officials said during a fourth-quarter earnings conference call on Thursday. At the same time, Exelon continues to seek a pathway for deregulated utilities to help supply new generation in the PJM Interconnection, Calvin Butler, Exelon president and CEO, said.

“We firmly believe it’s going to require an all-of-the-above strategy that includes utility-generated, demand side and merchant solutions,” he said. More than than 70% of the increase in Exelon’s capital expenditure plan is driven by transmission, according to Jeanne Jones, Exelon’s chief financial officer.

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Utility Dive – February 13, 2026

Congressional ‘grid reliability’ bill is like duct tape on a cracked dam: Mike O’Boyle, Silvio Marcacci, Energy Innovation

What if the government decided the best way to protect a town downriver from a failing dam was to slap duct tape over all the cracks? Bad idea, right? Unfortunately, that’s what legislation passed by House of Representatives would do to America’s grid. The “Power Plant Reliability Act” would give regional transmission organizations and state regulators power to ask the Federal Energy Regulatory Commission to delay planned power plant retirements for up to five years.

Most planned retirements are old coal-fired power plants. These retirement determinations are heavily litigated, planned over a decade or more under state regulatory supervision, and underpinned by utility analysis showing the grid would be cheaper, cleaner and more reliable without them.

Regulatory

Grist – February 10, 2026

The United States Sacrificed $35 Billion in Clean Energy Projects Last Year

For more than a decade, the clean energy economy has been on a steep growth trajectory. Companies have poured billions of dollars into battery manufacturing, solar and wind generation, and electric vehicle plants in the U.S., as solar costs fell sharply and EV sales surged. That momentum is set to continue surging in much of the world — but in the United States, it’s starting to stall.

According to a new report from the clean energy think tank E2, new investment in clean energy projects last year was dwarfed by a cascade of cancellations for projects already in progress. For every dollar announced in new clean energy projects, companies canceled, closed, or downsized roughly three dollars’ worth. In total, at least roughly $35 billion in projects were abandoned last year, compared to just $3.4 billion in cancellations in 2023 and 2024 combined.

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Associated Press/PBS – February 13, 2026

Trump calls climate change threat to public health ‘a scam’ but scientific findings show otherwise

The Trump administration on Thursday revoked a scientific finding that climate change is a danger to public health, an idea that President Donald Trump called “a scam.” But repeated scientific studies say it’s a documented and quantifiable harm. Again and again, research has found increasing disease and deaths — thousands every year — in a warming world. The Environmental Protection Agency finding in 2009, under the Obama administration, has been the legal underpinning of nearly all regulations fighting global warming.

“It boggles the mind that the administration is rescinding the endangerment finding; it’s akin to insisting that the world is flat or denying that gravity is a thing,” said Dr. Howard Frumkin, a physician and professor emeritus of public health at the University of Washington. Thousands of scientific studies have looked at climate change and its effects on human health in the past five years and they predominantly show climate change is increasingly dangerous to people.