Texas Energy Report NewsClips archives March 2026

Texas Energy Report NewsClips

Friday March 13, 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

Oil prices headed for weekly gains as ​of Friday, despite the U.S. trying to ease supply concerns by issuing a 30-day license for countries ‌to buy Russian oil and petroleum products stranded at sea.

West Texas Intermediate (WTI) crude for April was up by 94 cents, or 1.0%, at $96.67 a barrel, ​poised for more than a 6% uptick for the week.

Brent futures for May rose $1.02, or 1%, to $101.48 a barrel at 0730 GMT, heading for a weekly increase of nearly 10%.

The license was issued in what Treasury Secretary Scott ​Bessent said was a step to stabilise global energy markets roiled by the U.S.-Israeli war on ⁠Iran, but analysts said this has failed to resolve wider supply constraints.

“ICE Brent futures have already breached $100 per barrel and ​are still supported today, despite moves to calm the markets with the Russian oil waiver and the unprecedented release of ​emergency stockpiles,” said Emril Jamil, senior analyst at LSEG.

“The market sees this as a short-term solution that does not address the crux of the supply disruption. The crude intermonth spreads for future months indicate an unresolved and continued tightness in supply,” Jamil said.

 

Top Stories

 

Texas Tribune – March 12, 2026

A plan to get more electricity to West Texas may come undone

If Texas wants to continue to be a leader in oil, the Permian Basin needs more energy. That’s the warning influential trade groups representing oil companies have been telling state lawmakers and regulators for years. A dearth of power plants and transmission lines connecting the region to the rest of the state’s grid means there isn’t enough electricity to power field operations, such as compressors and oil pumps.

In 2023, lawmakers offered a solution that spelled out a dramatic expansion of electricity transmission infrastructure in the Permian Basin, the state’s biggest oil field. “Texas’ thriving production is driving the state’s success,” the Texas Oil and Gas Association, a statewide trade group whose membership makes up roughly 90% of the state’s crude oil and natural gas market, wrote to regulators charged with designing that plan. “And a reliable electricity supply is crucial to sustaining this industry.”

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Investing – March 12, 2026

CME Group CEO warns against US intervention in oil futures markets*

The chief executive of CME Group warned the Trump administration against intervening in derivative markets to lower oil prices during the war with Iran, saying such action could trigger a “biblical disaster,” according to report from the Financial Times. Terry Duffy, who leads CME Group, the exchange where US oil futures trade, told a conference in Boca Raton, Florida, this week that government intervention in the futures market would erode market confidence if used to curb the rise in crude prices.

“Markets do not like it when governments intervene in pricing,” Duffy said at the conference. He warned that investors losing confidence in markets to set the price of critical commodities would risk a “biblical disaster.” Duffy’s remarks came after a report suggested the US Treasury was considering measures to lower oil prices, including intervention in futures markets.

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Trump weighs Jones Act waiver amid rising fuel prices, White House says

Related: “The Trump Administration is looking for ways to mitigate rising U.S. gasoline prices caused by the war. That includes suspending the 1920 Jones Act, and ponder that irony: Because of a war, the President may suspend a law that was intended to protect national security” — The Wall Street Journal*

 

Bloomberg – March 13, 2026

The White House’s Oil-Restraint Toolbox Is Empty: Javier Blas*

Despite President Donald Trump’s blustering that America benefits when oil prices surge, crunch time is fast approaching for both the war and the energy market. He either ends the conflict quickly, or sky-high energy costs will force him to do so. The oil market may not have the same fearsome reputation as the bond market but, trust me, it can be equally savage in twisting a politician’s arm. This week, the White House earned some breathing space thanks to the release of emergency reserves, plus the use of pipelines bypassing the Strait of Hormuz. But the extra time is measured in days, rather than weeks. Certainly, Trump does not have months.

My working assumption is that the oil market will add $3 to $6 a barrel to the headline price for every day — every single day — that the war continues. Monday to Friday, that’s $15-$30. It’s bearable for another week, perhaps two, but any longer and the world will start to incur serious economic damage through soaring energy costs. Short of a very risky — and possibly illegal — intervention in the oil futures market, the White House doesn’t have more meaningful tools to wield to bring energy prices down.

Do I believe the Trump administration is seriously thinking about interfering with the futures market? You bet. Even the Biden administration considered it in 2022 after Russia invaded Ukraine, before realizing it was too hazardous and unlikely to succeed.

The White House has already thrown everything it can at the problem. Sure, it can ask Congress to scrap federal fuel taxes, as Biden did in 2022. But that would take time — and may ultimately not win sufficient votes. US states, particularly those under Republican control, may also announce their own fuel-tax holidays, as some Democratic states did three years ago. Trump can waive some environmental rules for gasoline and diesel too. All those measures would buy time at home — but internationally, the damage from rising oil prices would continue. The White House, cornered, may try another tool: an export ban on US oil and refined products. That would certainly crash domestic prices, but send global ones soaring. It would be a tremendous mistake.

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Inside Climate News – March 12, 2026

Attacks on Middle East Desalination Plants Highlight Risks of Near-Total Dependence on ‘Fossil Fuel Water’

Recent attacks in the Middle East on desalination plants, facilities that remove salt from seawater, raise the potential for a humanitarian crisis if the region’s freshwater production facilities are subjected to more widespread destruction. The attacks also underscore the region’s heavy reliance on an energy-intensive method of producing drinking water that is powered almost entirely by fossil fuels.

On Saturday, Iranian Foreign Minister Abbas Araghchi accused the United States of striking a desalination plant in southern Iran. The U.S. has since denied any role in the attack. The next day, Bahrain accused Iran of damaging a desalination plant in a drone attack. The targeting of freshwater production facilities follows attacks on schools, airports, hotels and refineries since U.S Operation Epic Fury began in February. Attacking desalination plants is a violation of the Geneva Conventions, which established humanitarian laws for the treatment of non-combatants in war.

 

The Latest TERse Tips

An investigation is underway after HAZMAT responds to plant fire in Pasadena, officials say — KTRK

Strait of Hormuz must remain closed as ‘tool to pressure enemy,’ Iran’s new supreme leader says — CNBC

Iran targets Turkey’s Incirlik air base housing US nuclear bombs — India TV News

Fitch Ratings has assigned a ‘BBB+’ rating to Sempra’s senior unsecured notes — Fitch

Texas Railroad Commission chairman discusses challenges facing state’s oil industry — KWTX

 

Oil & Gas Texas

 

Energy Now – March 12, 2026

US Natgas Prices at Waha Hub in Texas Remain Negative for Record 25th Day

U.S. spot natural gas prices for Thursday at the Waha Hub in the Permian Shale in West Texas closed in negative territory for a record 25th straight day as pipeline constraints trap gas in the nation’s biggest oil-producing basin, prompting some analysts to project that gas production could be reduced in the short term.

Longer-term, energy firms will likely boost Permian output when more gas pipes enter service as soaring oil prices from the Iran war encourage oil and associated gas production, and as gas demand rises to feed fast-growing U.S. liquefied natural gas (LNG) exports and to produce electricity for power-hungry data centers running artificial intelligence (AI) technologies.

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World Oil – March 11, 2026

U.S. Gulf lease sale draws $47 million in bids for 25 offshore blocks

The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) generated nearly $47 million in high bids during its latest Gulf offshore oil and gas lease sale, reflecting continued industry interest in exploration acreage on the U.S. Outer Continental Shelf. Lease Sale Big Beautiful Gulf 2 (BBG2) attracted 38 bids from 13 companies for 25 blocks covering about 141,000 acres in federal waters of the Gulf.

Interior officials said the sale was the second offshore lease auction required under President Trump’s One Big Beautiful Bill Act, which mandates additional lease sales to support domestic energy development. “Today’s lease sale reflects President Trump’s continued focus on strengthening America’s energy security while supporting jobs and economic growth across the Gulf of America,” said Secretary of the Interior Doug Burgum. “By advancing responsible offshore development, we’re ensuring that the United States remains a global energy leader and that American families benefit from reliable, affordable energy for years to come.”

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Houston Chronicle – March 12, 2026

Trump announced a $300 billion refinery project in Texas. Industry experts are skeptical.*

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Reuters – March 12, 2026

Chevron sells stake in Angola’s Block 14, 14K to Energean for $260 million*

Energean ​on Thursday said it would acquire Chevron’s interests in ‌two offshore Angola oil blocks for a base consideration of $260 million, as the Mediterranean-focused gas producer follows through on its plan to build out ​a hub in West Africa. Energean has been increasing investment ​to lift production amid geopolitical disruptions and is evaluating new ⁠M&A opportunities in the region as it seeks to expand its ​portfolio.

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The Wall Street Journal – March 22, 2026

President Trump’s Head-Spinning Pivot on an Emergency Oil Release*

In a rapid reversal that left U.S. allies stunned, the Trump administration shifted from opposing the largest-ever intervention in oil markets to cajoling allies into moving forward with the maneuver in a matter of hours.  Tensions in the global oil market seemed to be easing on Tuesday just as Western governments and their allies were debating a major release of emergency oil reserves to calm prices. President Trump said the war with Iran would be over soon, and some European nations were questioning whether governments should intervene at all, U.S. and European officials familiar with the discussion said. According to the officials, U.S. Energy Secretary Chris Wright gave his counterparts in the Group of Seven nations the White House’s position Tuesday morning: A massive intervention in oil markets was premature because the price of oil had recently dipped below $90 a barrel.

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Houston Chronicle – March 12, 2026

The Iran war might end soon. Your high gas prices won’t, according to a new report: Chris Tomlinson*

“We expect U.S. crude oil production will average 13.6 million barrels per day in 2026 and rise to 13.8 million barrels per day in 2027,” the report said. “Our 2027 forecast is 0.5 million barrels a day higher than last month’s forecast.” Higher energy costs, including higher electricity bills from inflated natural gas prices, will slow the global economy. Oil prices are up 20%, which typically raises the inflation rate by about 0.6 percentage points.  Based on February’s consumer price index rise of 2.4% over last year, inflation will likely rise to 3% this month.

 

Oil & Gas National & International

 

S&P Global Platts – March 12, 2026

Oman port closure cuts off last ammonia export route from Middle East

The Omani port of Salalah on the Arabian Sea has been closed “until further notice,” according to a customer advisory from the port, suggesting no ammonia can be exported from the Middle East, the world’s largest export region. “All terminal operations have been temporarily suspended until further notice,” the advisory, issued March 11, said.

The closure comes after a drone strike on fuel tanks at the port on March 11, according to Oman state media. OQ Trading uses Salalah port to export ammonia from the Salalah Methanol Company, most recently to Jordan. The 26,000-metric ton gas carrier Gas Ammon, chartered by OQ Trading, is due at Salalah on March 15, according to S&P Global Energy shipping data.

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Dallas Morning News – March 12, 2026

Oil spike fuels ‘existential threat’ for airlines, higher ticket costs for travelers*

Gas pumps aren’t the only place where inflation-weary consumers will feel the pain of soaring energy costs. The Iran war’s fallout has sent oil prices on a historic tear above $100 and is ricocheting across major airlines, which are all but certain to hike ticket prices in response. The moves come just as spring break shifts into high gear, and flyers are planning their summer vacations amid affordability concerns. As a result, prospective air travelers could feel a hit to their wallets, as carriers grapple with skyrocketing jet fuel prices, which are linked to international crude prices that are being pushed up by the war in Iran.

Recently, United Airlines CEO Scott Kirby told The Wall Street Journal that surging energy costs could cause fares to jump. While it remains unclear how U.S. airlines plan to handle the fallout stemming from the conflict, some global carriers are already taking drastic action as the war creates a logjam of crucial oil and gas supplies in the Strait of Hormuz. Cathay Pacific said it is hiking fuel charges for most flights, according to an AFP report. Air France-KLM is raising long-haul ticket prices due to the oil spike, according to Reuters.

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gCaptain – March 10, 2026

Electronic Fog of War: GPS Spoofing Distorts Ship Traffic Near Hormuz

Satellite navigation interference detected near the United Arab Emirates coast is creating the appearance of vessels sailing in straight lines toward the Strait of Hormuz—even though the ships are not actually following those tracks—according to new analysis from vessel-tracking platform MarineTraffic. The anomaly was first observed around 15:00 UTC off Ras Al Khaimah, UAE, where vessel positions began appearing in long linear patterns inconsistent with normal ship navigation.

“Unlike the typical single-point clustering commonly associated with signal jamming, this interference creates the appearance of vessels moving in a straight line toward the Strait of Hormuz, even though the vessels are not actually following that trajectory,” MarineTraffic said.

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Politico – March 12, 2026

Five reasons oil prices won’t snap back from Iran war

Trump may have started the war — but he doesn’t have the power to unilaterally end it. The Iranians have not publicly stated that they will quickly agree to stop their attacks. In the last week, they have increasingly targeted the region’s energy infrastructure, which could cause a major jump in oil prices and a longer period of uncertainty if they persist. In response to Trump’s comments, Revolutionary Guard spokesperson Ali Mohammad Naini on Tuesday told Iranian state media that “Iran will determine when the war ends.”

Iranian officials are keenly aware of the political pressure Trump faces at home as long as gas prices at the pump remain elevated. Iran’s foreign minister, Seyed Abbas Araghchi, said the spike in global oil prices showed that the regime would not capitulate if the U.S. and Israel continued to target oil infrastructure. “9 days into Operation Epic Mistake, oil prices have doubled while all commodities are skyrocketing,” he wrote on X. “We know the U.S. is plotting against our oil and nuclear sites in hopes of containing huge inflationary shock. Iran is fully prepared. And we, too, have many surprises in store.”

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The New York Times – March 22, 2026

Trump Removes Sanctions on Russia to Help Oil Flow Amid Iran Conflict*

The United States on Thursday temporarily lifted sanctions on Russian oil that is currently at sea, allowing it to be shipped to buyers around the world as the Trump administration scrambles to contain energy prices that have been soaring because of the war in Iran. The exemptions, which were issued by the Treasury Department, will be in place until April 11. Treasury Secretary Scott Bessent estimated that freeing Russian oil could add hundreds of millions of barrels of crude to global markets, curbing prices that have been hovering near $100 per barrel as a result of the Iran conflict.

The decision was a significant turning point in America’s effort to punish Russia for its war in Ukraine. Russia has faced punishing sanctions from the United States and the rest of the Group of 7 advanced economies since Moscow’s invasion of Ukraine in 2022. Those sanctions have included a price cap on Russian oil and a crackdown on Russia’s “shadow fleet” of unmarked vessels that oil exporters have used to evade sanctions.

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The Wall Street Journal – March 12, 2026

Emboldened by Oil Shock, Iran’s Leaders Play Diplomatic Hardball*

Arab diplomats trying to find a diplomatic path out of the war now being waged by the U.S. and Israel against Iran say Tehran, emboldened by its ability to rattle the global economy by choking oil shipments, has laid out steep preconditions for any return to talks. Iran is demanding that the airstrikes stop before it entertains cease-fire discussions and wants firm guarantees that it won’t be attacked again if it agrees to stop the fight, Arab diplomats said. It also wants reparations for damages and is hoping to get U.S. forces to disengage from the region. The demands are part of a broader public expression of confidence—whether real or feigned—in recent days.

New Supreme Leader Mojtaba Khamenei, in his first statement since being selected to replace his father, vowed to attack U.S. bases in the Middle East and keep the Strait of Hormuz closed. Iranian officials believe President Trump is feeling the heat from global markets and said their leaders aren’t interested in surrendering. They have told Arab diplomats that any deal would have to guarantee safety for all, or there would be safety for none. That high-risk, escalatory strategy is aimed at deterring future attacks on a regime that feels its survival is in acute danger. The country’s hard-line leaders aren’t likely to quit until they feel their point has been heard, which could herald a dragged-out conflict even after the U.S. decides it is ready to wrap things up.

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The Hill – March 12, 2026

Why naval escorts through Strait of Hormuz are so risky

The U.S. has yet to begin escorting oil tankers through the treacherous Strait of Hormuz, something that increasingly looks like a high-risk proposition during the war with Iran. President Trump, who floated using escorts to reopen the waterway and avoid an oil crisis amid soaring global prices, so far has held off, opting instead for strikes against mine-laying vessels near the strait.

Treasury Secretary Scott Bessent also deferred on any timeline for such a mission, saying Thursday it was his belief that the Navy, along with a possible international coalition, will begin escorting vessels through the Strait of Hormuz “as soon as it is militarily possible.” “It is a prospect as soon as … it is possible to ensure safe passage,” he told Sky News. The hesitation betrays the dangerous nature of inserting American warships into the waters just off the Iranian coast, where they face direct attack by drones or shore-to-ship ballistic missiles as retaliation for the ongoing U.S.-Israeli war in the country, experts say.

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Marketplace – March 12, 2026

Without Middle East crude, some CA refineries have to shut down

Iran’s new leader said Thursday that the country will keep the Strait of Hormuz closed. Oil prices jumped in response. Brent Crude, which is basically the type of oil that’s no longer flowing out of the Mideast, flirted with $100 a barrel.  Even with more than 170 million barrels of oil being released from the Strategic Petroleum Reserve, some of the refineries that convert crude oil into consumable energy just don’t have access to the raw material they need. The war could end up causing many refineries to shut down production. The kind of oil that’s getting cut off by this conflict mostly goes to Asia.

“A lot of that crude goes to China, Malaysia, Singapore. India is very important also,” said Anna Mikulska, head of analytics at CGCN Group. She said some Middle Eastern crude also heads to refineries in California. “California has imported a lot of its crude from Iraq, for example. This is a lot of barrels that California will have a problem replacing,” Mikulska said. Refineries there can’t just switch to the heavier, sulfur-rich oil that comes from western Canada, because they aren’t set up to handle it.

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The New York Times – March 22, 2026

War in Iran Has India Wondering How to Keep Its Stovetops Lit*

In kitchens across India, the familiar blue flame of a gas stove symbolizes both modern convenience and successful policymaking. This week, that flame flickered. War in the Middle East has threatened the supply of the liquefied petroleum gas that powers India’s homes, restaurants and industries. The immediate anxiety is about cooking gas, for the billion-plus Indians who rely on it every day. Worries are growing over India’s dependence on an imported fuel, the delayed efforts to protect household supplies and a panic that may have worsened the disruption.

India is the world’s second-largest importer of liquefied petroleum gas, after China, burning about 31 million tons a year. Roughly 60 percent of that is imported, mostly via the Strait of Hormuz, the narrow waterway that provides passage from the Persian Gulf to the open sea. The rest is made in India, mainly as a byproduct from crude-oil processing. When missiles started flying between Iran and the Arab states on Feb. 28, in the aftermath of attacks by the United States and Israel, shipping through the strait came to a halt. In the following days, rumors of a shortage of liquefied petroleum gas ricocheted across India’s cities, setting off hoarding and a brisk black market in the metal cylinders used to transport the gas. The government’s initial response consisted of the occasional reassuring social-media post by a cabinet minister.

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The Wall Street Journal – March 22, 2026

Trump’s Energy Triumph: Kimberley A. Strassel*

The Democratic-media complex seems determined to get everything wrong about Iran, though few efforts compare with this week’s work to tag the Trump administration with a global energy crisis. Not only is this uninformed and overdone, the sudden concern over energy security comes about three years late. The undermine-America crowd describes Iran’s blockade of the Strait of Hormuz as an “oil shock” that is “spiraling,” “chaotic” and the “worst in history.” It seems to have evaded this crew that Iran’s bombardment of peaceful trading vessels is yet more justification of U.S. strikes. Iran’s been using energy threats to manipulate geopolitics for decades and won’t stop until it is fully defanged.

They are blaming the administration, in particular Energy Secretary Chris Wright and Interior Secretary Doug Burgum, whom Politico described as the “vaunted” team “in danger of fumbling the biggest energy crisis” of Donald Trump’s second term. The go-to quote comes from Democratic Sen. Chris Murphy, who ranted that “on the Strait of Hormuz, they had NO PLAN. . . . Which is unforgiveable, because this part of the disaster was 100% foreseeable.”

Let’s talk about plans. That the U.S. was finally in a position to disarm Iran is largely thanks to a plan Mr. Trump initiated in his first term—to gain energy independence, which his team is now turning into energy dominance. Trump policies turbocharged a shale revolution that made the U.S. a net exporter of petroleum products and the world’s largest exporter of natural gas. Alongside was Mr. Trump’s plan to foster economic and security ties in the region against shared threats like Iran via deals like the Abraham Accords.

We are no longer hostage to Middle East fossil-fuel threats, which gives us room to weather temporary Hormuz disruptions. Domestic gasoline prices have spiked but are still notably below their highs during Joe Biden’s term. Thanks to growing U.S. exports, our allies are better positioned against fallout. And Gulf actors are working alongside the U.S. to mitigate Iran’s blockade. Some of us remember “OPEC embargo” days. No more.

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March 12, 2026

Will Trump ‘Fight to Win’ in Iran?: The Wall Street Journal*

‘We have to start winning wars again. . . . And now we never win a war. We never win. And we don’t fight to win. We don’t fight to win. You either got to win or don’t fight it at all.”

President Trump spoke those words in February 2017, a sentiment he has often repeated. We hope he recalls them now as Iran escalates its retaliation and imposes costs on the U.S. and the world economy. Will Mr. Trump still fight to win? Two weeks into the conflict, Israel and the U.S. continue their steady degrading of Iran’s terror infrastructure. The early days had to target Iran’s air defenses and missile forces. Its navy has largely been destroyed. The regime’s forces of repression—the Islamic Revolutionary Guard Corps (IRGC) and the basij paramilitary—are under daily siege.

The regime’s strategy in response is now clear: Target the production of oil in the Persian Gulf and its flow through the Strait of Hormuz. If it can raise the price of oil high enough for long enough, it believes it can force Mr. Trump to call off the bombing campaign. Iran’s advantage—its only one—is that it can employ asymmetric means to impose that economic pain. Drones are cheap to produce and hard to intercept when they swarm a target. Mines can be laid cheaply, and do great damage to U.S. ships if undetected. The U.S. hasn’t been as prepared to counter these threats as it has been against Iranian missiles. Any ideas, Secretary Hegseth?

The result has been the near total closure of the Strait of Hormuz for non-Iranian oil, a surge in the global price to $100 a barrel, and panic in financial markets and the press. Even from their bunkers, Iran’s remaining leaders can see this Western anxiety. Their bet is that if they can cause Mr. Trump to blink first, they will emerge from the war with a sword over the Gulf they can use at any time. This is the danger Mr. Trump faces as he contemplates when to end the war. Iran has threatened Gulf oil production for decades, and that potential threat has built a risk premium into the oil price. But if the war ends with that threat having been proven in practice, with the U.S. unable to do anything about it, the U.S. will be the strategic loser. The deterrent effect of enforcing Mr. Trump’s red lines will be diminished, if not evanescent.

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Hawaii Tribune Herald – March 11, 2026

Chevron, Shell closing in on first big oil production deals in Venezuela since US captured Maduro, sources say

International oil majors Chevron and Shell are closing in on the first big oil production deals with Venezuela since the U.S. capture of President Nicolas Maduro in January, five sources close to the negotiations told Reuters.

The deals would allow both companies to boost production in coveted oil regions in the South American country, the biggest steps to date toward what U.S. President Donald Trump has said would be a $100 billion effort to rebuild Venezuela’s oil industry after decades of mismanagement and underinvestment under Maduro and his predecessor Hugo Chavez. Venezuela’s National Assembly in late January approved a sweeping reform of the country’s main oil law. It now grants foreign companies autonomy to operate, export and sell Venezuelan oil even when they are minority partners of state-owned oil company PDVSA.

 

Utilities, Electricity & Renewables

 

Oil Price – March 12, 2026

Tesla Wins License to Supply Electricity Across the UK

Tesla has been granted approval to supply electricity to homes and businesses across the UK, opening the door for the electric vehicle giant to enter the country’s retail energy market. Energy regulator Ofgem confirmed on Thursday that Tesla Energy Ventures Limited, a subsidiary of Musk’s company, has been granted an electricity supply licence by the Gas and Electricity Markets Authority under the Electricity Act 1989. The licence allows the company to supply electricity to both domestic and non-domestic customers in England, Scotland and Wales.

Ofgem said the approval followed a seven-month application and assessment process that ran from July 2025 to March 2026. The licence formally took effect on Wednesday evening, after Tesla was informed of the decision and the instrument was entered into Ofgem’s electronic public register. As a licensed supplier, Tesla Energy Ventures has to comply with the sector’s standard licence conditions.

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Spectrum News – March 12, 2026

Dallas considers Atmos Energy’s request for 10% rate increase

Atmos Energy is seeking approval from Dallas city leaders for a 10% rate increase that would raise natural gas bills for customers across the city. The proposal would increase the average residential bill by about $11 per month or roughly $135 per year. The company says the increase is needed to support continued investment in infrastructure and maintain safe, reliable service.

Dallas resident Nikki Stephens said winter utility bills already strain many households, particularly after severe weather earlier this year. “Usually, it’s around $300-$350 for winter months, especially January,” Stephens said. Outside of those colder months, Stephens said her gas bill remains relatively consistent. “It’s just something that you expect,” she said.

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The Wall Street Journal – March 12, 2026

The Electric Grid Needs Huge Upgrades. No One Knows Who Will Pay for Them.*

The U.S. power industry is embarking on an AI-driven expansion of the electric grid, a build-out that promises to be one of the most expensive since World War II. Some of the costs are set to be shared between power-gobbling AI companies and consumers already bridling at utility bills. President Trump has sought to minimize the extent to which consumers will be forced to pay for new data centers that power the artificial-intelligence boom, but utilities and regulators warn that those measures won’t fully shield consumers from costs associated with long-needed upgrades to the system for transmitting power across the U.S.

Fort Worth Report – March 12, 2026

Residents frustrated with energy company demand details about data center’s carbon footprint

North Texans demanded an energy conglomerate provide information about how plans to build a $10 billion data center in southeast Fort Worth will affect homes and natural resources.  Residents, including those from Forest Hill, packed a March 12 town hall hosted by Black Mountain where CEO Rhett Bennett and Bob Riley, a consultant with engineering firm Halff, presented a site plan.

The town hall came after Fort Worth City Council members tabled a vote Tuesday to approve additional rezoning that would give Black Mountain an additional 80 acres for its use. The company requested the delay so it could complete a report describing how the data center campus would impact the city’s infrastructure, Riley said.

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Reuters – March 12, 2026

US Department of Energy to invest $1.9 billion for power grid upgrades

The U.S. Department of Energy will invest ​about $1.9 billion to accelerate upgrades of ‌power grids in the country, it said on Thursday. U.S. power consumption is set to rise ​sharply this year and the ​next, driven by rapid growth in AI ⁠and cryptocurrency data centers and ​increased electrification of heating and transport. However, ​that demand has also led to higher electricity prices for a large swath of the ​country.

The DOE said the funding would ​be used to prepare for the rise in ‌demand ⁠and to lower electricity costs for American households and businesses. The selected projects for the funding will need to showcase ​how reconductoring ​or ⁠replacing existing power lines with higher-capacity conductors, combined with transmission ​technologies, can bolster the nation’s ​electric ⁠grid.

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Engineering News Record – March 12, 2026

Power Isn’t the Only Electrical Challenge for AI Data Centers

Finding power for data centers is only the beginning. The data centers themselves require significantly more electrical engineering work than any other facility, and there simply aren’t enough engineers, digital designers or contractors in the U.S. to meet current demand.  The need for new electricians alone is expected to increase 6% annually, according to a Bureau of Labor Statistics report last year, and many of those electricians will be working on the 446 new data centers planned for North America by the end of the decade.

This labor shortage is another obstacle to American ambitions to consolidate the nation’s leadership in the artificial intelligence race. The significance of this shortage cannot be overstated because of the prime position electrical systems occupy in data centers: “You can’t do anything without electrical,” one data center developer told me. “ Electrical is the biggest spend in the data center … it can be 45% of the entire spend on the project.” As companies rush to build more power-hungry, complex data centers to meet the nation’s demand for greater computing power, artificial intelligence offers a unique solution to problems of its own creation. These buildings that house the servers, allowing artificial intelligence to “think,” need that intelligence to meet the demand for these services.

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Dallas Morning News – March 12, 2026

Lithium was found deep underground in northeast Texas. Now, there’s a race for who gets it*

Franklin County — Inside his office just off Mt. Vernon’s town square, attorney B.F. Hicks lays a map out on his desk. At speed, he points at different tracts of land, reciting who lives there, what size their property is and which companies he’s heard have sent landmen to knock on their door to negotiate lithium leases. For a few years now, the infiltration of companies into this rural region of Texas searching for lithium – a critical ingredient for storing solar energy and powering electric vehicle batteries – has become a topic of conversation over dinner at the local chophouse or in catching up at the historical society meeting.

Sometimes, it’s behind closed doors as friends, family and neighbors gossip about who’s getting the best offers for their mineral rights. Being an energy frontier for other parts of Texas isn’t new to residents in Franklin and surrounding counties, as some of their backyards have started to fill with solar panel farms and battery energy storage systems, all fuel powering the “green economy.”

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March 12, 2026

With AI demand surging, Texas can’t stand in the way of renewables: Dallas Morning News*

Texas is already the nation’s top wind power producer and is poised to expand solar energy and industrial battery storage this year. But as the state grapples with increased energy demands due to population growth and the influx of large users like crypto mines and massive data centers used to power artificial intelligence, lawmakers must remain open to renewable energy. If they don’t, Texas risks falling behind in the energy race. Texans should not find themselves short on electricity because the grid can’t keep up with demand, whether that demand comes from industry, new residents or millions of people asking chatbots to generate images and answer silly questions.

The U.S. Energy Information Administration projects that Texas will receive about 40% of new solar capacity and 53% of new battery storage capacity added nationwide this year. And much of the new energy expected in Texas is renewable or helps store energy for future use. According to data from the Electric Reliability Council of Texas, which manages most of the state’s power grid, about 87% of the electric capacity planned to connect to the grid in the next six years are solar, wind or battery plants. Only about 13% are new gas plants. But these alternate sources won’t solve the grid’s reliability challenges alone. Texas will continue to need dispatchable power sources, like natural gas, but blocking other sources of energy would be a mistake. Wind, solar and battery storage are among the fastest ways to add new electricity to the grid at a time when demand is growing rapidly.

 

Regulatory

 

Politico – March 12, 2026

Chevron settles with DOJ over biofuels program violations*

Chevron has agreed to shell out a civil penalty after collecting millions of of invalid biofuel production credits in 2022. The Justice Department announced Wednesday that it had struck a settlement agreement with Chevron USA, requiring the oil company to pay a $1 million fine for violating the Clean Air Act’s Renewable Fuel Standard Program. Prior to the settlement, the company had already surrendered about $3.6 million in biofuel production credits to offset its alleged violations, according to a news release.

“Today’s action demonstrates the Administration’s commitment to the Renewable Fuel Standard program by ensuring that Renewable Identification Numbers generated and traded represent actual renewable fuel gallons produced,” Adam Gustafson, principal deputy assistant attorney general at DOJ’s Environment and Natural Resources Division, said in a statement. Under the RFS, companies can generate credits, or RINs, on renewable fuel they produce for use in the United States. The program ensures that a certain volume of renewable fuel replaces fossil fuels used to power vehicles and aircraft and heat homes.

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Texas Energy Report NewsClips

Thursday March 12, 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

Oil prices surged more than 8% with Brent crude hitting $100 per barrel Thursday, as traders remain unconvinced that release of government stockpiles could offset the massive supply shock triggered by the war in the Middle East

The IEA said Wednesday that its 32 member countries would release 400 million barrels of oil from emergency reserves, marking the biggest coordinated drawdown since the agency was created in the aftermath of the 1973 oil embargo.

West Texas Intermediate ​crude was up $7.22, or 8.28%, to $94.47.

Brent futures rose $8.54, or 9.28%, to $100.52 a barrel at 0354 GMT.

On Wednesday, a spokesperson for Iran’s military command said: “Get ready for oil to be $200 a barrel, ​because the oil price depends on regional security, which you have destabilised,” in remarks directed at the U.S.

There ​are no signs of a de-escalation in the Gulf and as a result, there is no end in sight to the disruptions to oil flows through the Strait of Hormuz, ING analysts said on Thursday.

“The only way to see ​oil prices trade lower on a sustained basis is by getting oil flowing through the Strait ​of Hormuz,” ING said. “Failing to do so means that the market highs are still ahead of us.”

 

Top Stories

 

Bloomberg – March 1, 2026

Refiners Hold Off Buying Oil as Prices Surge After Supply Hit*

Refiners are beginning to balk at eye-watering premiums on available oil barrels, threatening to slow down the flow of the world’s most traded commodity as the war in the Middle East upends energy markets. Markups of as much as $40 a barrel above benchmarks in the Middle East, $13 in Brazil and $10 in Azerbaijan — on top of sky-high freight rates — are leading refineries to hold off purchases at a time when many are cutting crude processing and fuel prices are surging. The soaring premiums and hesitation to close deals were related by several traders with direct knowledge of supply talks.

The holdup is just the latest sign that traders and refineries around the world are increasingly scrambling to adjust to the upheaval in a region that accounts for a fifth of global crude supplies. This could further exacerbate the shortages of fuel that are showing up in some markets around the world. Although there’s still ample time left for trades to wrap up this month’s trading cycle, the challenges to replace whatever lost volumes that they can manage are significant. Among the complications are tweaks to a key pricing mechanism for Middle East crude and distortions in the forward price structure that have muddled valuations.

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The Wall Street Journal – March 11, 2026

Escalating Hormuz Crisis Raises Specter of Prolonged Closure*

Escalating Iranian attacks and the U.S. government’s decision to hold off on military escorts for oil tankers through the Strait of Hormuz are raising the prospect of a prolonged closure that would choke off exports through the world’s most important energy-transport route. On Wednesday, the Islamic Revolutionary Guard Corps struck three cargo ships attempting to transit the waterway, the only sea route out of the Persian Gulf. It warned that any other vessels trying to move through the strait also would be targeted.

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Oil Price – March 11, 2026

Shell and TotalEnergies Issue Force Majeure After Qatar LNG Shut Down

Several major energy traders have begun declaring force majeure to their own customers after Qatar’s LNG shutdown rippled through global gas markets, according to Reuters sources on Wednesday. Companies including Shell and TotalEnergies–both major portfolio players that lift liquefied natural gas from QatarEnergy–have notified downstream buyers that contractual deliveries may be disrupted following Qatar’s suspension of LNG production. The move marks the first clear sign that Qatar’s export stoppage is cascading through the global LNG trading system.

QatarEnergy halted production at its giant LNG complex earlier this month and declared force majeure on shipments after drone strikes hit facilities at Ras Laffan Industrial City and Mesaieed Industrial City. The country operates roughly 77 million tons per year of liquefaction capacity and is the world’s second-largest LNG exporter.

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S&P Global Platts – March 11, 2026

Cyber agency staff furloughs could challenge energy sector as threats grow

The US Department of Homeland Security’s decision to furlough two-thirds of its cybersecurity staff could increase risks to US energy infrastructure, as defense analysts track a rise in cyberattacks targeting the operational systems of the nation’s critical assets in the wake of the Iran war. The US Cybersecurity and Infrastructure Security Agency (CISA) furloughs were discussed on Capitol Hill March 3 at a Senate Judiciary Committee hearing, when then-DHS Secretary Kristi Noem said that the cyber agency had been significantly degraded.

The CISA furloughs followed a partial government shutdown that began in February, after Democrats refused to fund the DHS unless Republicans agreed to changes to immigration enforcement as part of a budget deal. In a March 10 email, a CISA spokesperson reiterated the impact of the furloughs on the agency, referring to Noem’s written testimony that said while the agency can continue to respond to imminent threats and maintain its 24-hour operations center, “proactive work that keeps our adversaries at bay … is delayed or halted.”

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KBMT – March 11, 2026

Diesel prices spike in states with competitive Senate elections, report says

Diesel prices spiked in three states with competitive Senate races as the country navigates oil supply issues caused by the Iran war, figures reported on Sunday show. Oil analyst Patrick De Haan of GasBuddy, a company tracking fuel costs, said in a statement that diesel prices rose by more than a hundred cents over the previous week in Texas, North Carolina and Georgia, three of the states with the largest increases. The trio will host Senate elections in November that could help decide the makeup of the chamber.

The average diesel price in Texas rose 111 cents from the prior week, De Haan said. It spiked 110.5 cents in the Tar Heel State and 108 cents in Georgia. Fuel costs around the country have soared as oil shipments through the Strait of Hormuz, a Middle Eastern passage through which a fifth of the world’s petroleum travels, ground to a halt. Iran threatened to attack any ship passing through the strait earlier this month, when the U.S. and Israel ignited a regional conflict with a fatal strike against Supreme Leader Ali Khamenei.

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Reuters – March 12, 2026

Crude oil futures separate from reality as Asia physical market buckles: Clyde Russell*

Crude oil futures prices are reflecting a view that the market can successfully navigate the Iran war, while prices for physical cargoes and refined products are signalling an imminent crisis. Only one of these price signals is correct – and it’s not ​what is happening in the paper oil market. Global benchmark Brent crude futures ended at $91.98 a barrel on Wednesday, up 4.8% from the prior close but ‌still down from the brief spike on March 9 that saw them reach $119.50, the highest in nearly four years. In the physical market, the premium for a physical cargo of Middle East benchmark Dubai crude over its paper equivalent rose to almost $38 a barrel on Wednesday, the highest since Russia’s 2022 invasion of Ukraine.

Paper oil traders seem to believe the rhetoric from U.S. President Donald Trump and some in his administration ​that the campaign against Iran is going well and there is no real threat to oil and product shipments through the Strait of Hormuz. They also appear to ​believe that the International Energy Agency’s release of a record 400 million barrels of crude from stockpiles will help solve some of the ⁠supply disruptions. However, the current issues can’t be solved by comments from political leaders that appear untethered from the reality on the ground, as well as a stockpile release that will ​probably not put enough oil in Asia, where it is needed. While the Strait of Hormuz remains effectively blocked, the situation can only get worse and the pace at which it ​does so will start to accelerate. This is especially the case in Asia, which takes most of the 18 million to 20 million barrels per day (bpd) of crude and products that flowed through the strait prior to the U.S. and Israel launching an aerial campaign against Iran on February 28.

 

The Latest TERse Tips

Iran-backed hackers say they are expanding cyberattacks to global targets outside of critical infrastructure, aiming to wreak economic havoc in retaliation for U.S. and Israeli military strikes over the weekend — cyber activity aligned with Iran is largely contained to regional targets, such as Jordan, so far, said Kathryn Raines, team lead at threat-intelligence company Flashpoint’s national security solutions unit — The Wall Street Journal*

Three Ships Hit Near Strait of Hormuz as Iran Tries to Choke Off Oil Traffic — the U.S. has turned down requests to escort ships in the strait. The IEA will launch the largest-ever oil release from emergency stocks — The Wall Street Journal*

There is video purporting to capture VLCCs catching fire in the Gulf after being hit, from al Jazeera

President Donald Trump plans to invoke emergency law for ​Sable Offshore as it looks to restart ‌production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person ​familiar with the matter — Trump is preparing ⁠to summon authorities under the Defense Production ​Act to preempt state laws and ease permitting ​for Sable, the report added — Reuters*

Consumer prices tick up in February, boosted by rising energy prices — the data was in line with expectations, but the escalating Iran war will push prices up further in March — Dallas Morning News*

Governor Greg Abbott admonished Corpus Christi leaders for not moving more decisively on the city’s water crisis — here is the city’s formal answer

Fitch Ratings has raised its 2026 Brent oil price assumption to USD70/barrel from USD63/barrel due to the effective closure of the Strait of Hormuz, which we assume to be temporary — Fitch

TXO Partners, L.P. says Cross Timbers Energy, LLC, a joint venture in which it holds a 50% interest, has executed purchase and sale agreements with multiple private buyers to sell oil and gas properties totaling approximately $200 million in aggregate consideration — see the press release

Houston Chronicle map shows highest and lowest gas prices across Texas

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Oil & Gas Texas

 

Bloomberg – March 11, 2026

Natural Gas Boom Will Spur a Shortage of US Fracking Gear, Shale Boss Says*

Rising US natural gas exports and soaring domestic demand for the power-plant fuel will lead to a shortage of fracking gear later this decade, according to the head of one the country’s top drilling contractors. Activity in US shale fields is expected to ramp up toward the end of this year into 2027, primarily driven by gas consumption, Patterson-UTI Energy Inc. Chief Executive Officer Andy Hendricks said in an interview. That could lead to a deficit of equipment to frack gas wells in two to three years, particularly in the Haynesville basin of Texas and Louisiana, he said.

Hendricks’ remarks underscore a broader industry push to build pipelines connecting the Haynesville and other gas basins in the US South with new Gulf Coast export terminals. More equipment and infrastructure would align with President Donald Trump’s efforts to expand US shipments of the fuel to overseas buyers and dominate global energy markets. Global demand for US liquefied natural gas has jumped as the war on Iran disrupts supplies from the Middle East, but Gulf Coast plants are already running at full capacity and other facilities there are still under construction. Meanwhile, domestic US gas consumption has skyrocketed as data-center developers rush to build power plants to run artificial intelligence.

In the Haynesville, the number of drilling rigs has surged over the past year as new pipelines shuttle gas from that basin to export terminals. Producers there are likely to favor fracking equipment that runs on cheaper gas versus diesel, leading to a shortfall of that gear, Hendricks said. “All the horsepower that we have that can burn natural gas as a fuel is sold out today,” he said. “There’s going to be a call on equipment in the Haynesville over the next two to three years. We’re going to have to increase the amount that’s working over there and it’s going to require new equipment to be manufactured and put to work.”

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KHOU – March 11, 2026

US to release 172 million barrels of oil from Strategic Petroleum Reserve, which has 2 sites in Southeast Texas

The nation’s emergency crude oil is stored in the Strategic Petroleum Reserve, tucked away deep underground in massive salt caverns along the Gulf Coast. The reserve is spread across four major storage sites. Two of those sites are a quick drive from Houston.  Bryan Mound is in Brazoria County near Freeport and Big Hill is in Jefferson County near Beaumont. The two other sites are in Louisiana at West Hackberry, which is near Lake Charles, and Bayou Choctaw, which is 12 miles south of Baton Rouge.

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Texas Tribune – March 11, 2026

Texas oil companies stand to profit from Iran war disruptions while consumers face higher gas prices

The U.S.-Israel war with Iran means higher profits for Texas oil companies and higher costs for its consumers, according to Texas experts who are tracking suddenly-volatile energy markets. The average cost for a gallon of regular gasoline in Texas hit $3.21 Tuesday morning, up from $2.55 a month ago, according to AAA. That is lower than Tuesday’s national average of $3.54.

While Texas’ position as the nation’s leading oil and gas producer insulates Texans from the steepest price hikes, drivers should expect to pay more at the pump the longer the war continues, experts said, especially during the summer travel season when gas consumption rises.

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Houston Chronicle – March 11, 2026

War in Iran sent oil prices soaring. Here’s how it’s affecting Texas production.*

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San Antonio Express-News – March 11, 2026

What to know about $300B Trump-backed refinery drawing eyes to South Texas*

A $300 billion oil refinery project with ties to the Trump administration is coming to deep South Texas — the first project of its kind in five decades — and it will be built in Brownsville, in the Rio Grande Valley. President Donald Trump announced the America First Refining oil refinery on Truth Social on Tuesday, March 10. … The America First Refining refinery will be built on 240 acres within the Port of Brownsville and will be hydrogen-powered. It’ll produce up to 50 billion gallons of “ultra low sulfur diesel” per year, as well as jet fuel and “specialized gasoline,” according to the company’s website.

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KERA (NPR) – March 11, 2026

Texas gas prices are rising amid Iran war, but we’re still paying less than other states

Gas prices in Texas are climbing as crude oil prices spike amid tensions in the Middle East, though drivers across the state are still paying less than the national average. The average price for a gallon of regular gasoline in Texas stood at about $3.25 as of Wednesday, according to data from AAA. That’s up from last month, when prices hovered around $2.55 per gallon throughout the state.

The main reason: a spike in crude oil prices — the main ingredient in gasoline — fueled in part by the escalating conflict in the Middle East. “When you look at the bigger picture over the past week or two, you see an increase in crude oil prices, and that’s after the U.S. intervention in Iran,” said Daniel Armbruster, a spokesperson for AAA Texas.

 

Oil & Gas National & International

 

S&P Global Platts – March 11, 2025

Hormuz traffic increases, at least two sanctioned ships cross strait: CAS

Eight ships crossed through the Strait of Hormuz on March 10, up from three ships the day before, according to an S&P Global Commodities at Sea report on March 11. Two of the ships were tankers, both sanctioned, according to the report. The US-sanctioned Marser, a Very Large Gas Carrier, moved eastbound out of the Persian Gulf, having “likely loaded Iranian LPG via ship-to-ship transfer between March 9 and March 10,” the report said. The other tanker was the Breez, an MR tanker sanctioned by the US, the EU and the UK that sailed westbound into the Gulf, according to the report.

Some 1 million barrels of Saudi crude loaded from the Juaymah terminal on March 10 as a co-load on the VLCC tanker Majra, the CAS report said. Another 3 million barrels of Oman Blend loaded from Mina al Fahal, it said.

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The Wall Street Journal – March 11, 2026

U.S. Plan to Unblock Strait of Hormuz Collides With Realities of Global Insurance*

President Trump’s plan to sell insurance for ships in the Gulf, a way of easing the war-induced crunch in oil supplies, is proving easier said than done. The effort was designed to help “ensure the free flow of energy to the world,” Trump said in a social-media post last week. The U.S. would provide, at a very reasonable price, political risk insurance for all shipping, backed if necessary by U.S. Navy escorts, he said. The U.S. Development Finance Corp., part of the federal government, was tasked with implementing the $20 billion plan, an “America First”-style insurance program, led by American insurers. This U.S.-centric idea ran counter to the market realities, according to industry executives.

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Associated Press – March 11, 2026

Iran war becomes a contest of who can take the most pain: Jon Gambrell

The war with Iran, for all its complexity and global effects, boils down to a single question: Who can take the pain the longest? A surge in oil prices points to what may be Iran’s most effective weapon and the United States’ biggest vulnerability in continuing the campaign: damaging the world economy. A sharp rise in gas prices has rattled consumers and financial markets, and international travel and shipping have been severely disrupted.

U.S. President Donald Trump appears aware of the danger. As oil jumped to nearly $120 a barrel on Monday, the highest since 2022, he suggested the war would be “short-term.” That helped reassure markets and the price eased to around $90 — even as Trump, nearly in the same breath, vowed to keep up the war and the punishment on Iran.

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The Wall Street Journal – March 11, 2026

The Economic Winners and Losers of the Iran War*

Higher energy prices offer little comfort to the Middle East While the Gulf typically benefits from higher oil prices, the paralysis of the Strait of Hormuz has restricted sales and forced production cuts. A brief war could lead to economies in the Gulf contracting by as much as 2% this year, while prolonged clashes might trigger a 15% decline, according to Capital Economics. Kuwait and Qatar would suffer the biggest blows because of their outsize energy industries, while Saudi Arabia and the United Arab Emirates may be able to partially offset losses by shipping more via pipelines.

The conflict has also shaken the Gulf’s carefully cultivated image as a stable sanctuary. That threatens ambitious economic overhauls like Saudi Arabia’s Vision 2030, which relies on foreign investment. Meanwhile, Middle Eastern tourism will likely suffer. International visitors could drop as much as 27% this year, according to research firm Tourism Economics, costing up to $56 billion in lost revenue. Contagion has spread across the wider region: This week, Egypt’s pound crashed to a record low against the dollar on concerns that more expensive energy imports will strain fragile government finances. Meanwhile, the conflict will exacerbate Iran’s economic crisis.

Europe faces another energy shock, but not like the last one. A prolonged period of higher energy prices could derail Europe’s nascent economic recovery. The European Union relies on fossil-fuel imports for about 58% of its energy. Among major economies, only South Korea and Japan are more dependent on fossil-fuel imports. While most European countries don’t buy much energy from the Middle East, they are exposed to rising global prices. Dwindling supply from the Gulf has sparked a bidding war for what’s left elsewhere, sending European gas prices up more than 50% this month.

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March 11, 2026

America’s Strategic Oil Exports: The Wall Street Journal*

The International Energy Agency said Tuesday that its 32 member countries will release a record 400 million barrels of oil from their emergency reserves to mitigate supply disruptions caused by Iran. Stockpiles exist for this purpose, but don’t overlook how U.S. crude exports are also providing a strategic oil reserve for the West. … But refineries in Asia and Europe that import crude from the Middle East are still seeing major disruptions, which is reflected in rising crude prices. The IEA release is intended to mitigate disruptions and contain prices. Western countries established the IEA after the 1970s Arab oil embargo for this purpose.

In recent years, however, the outfit has become a mouthpiece for the anti-fossil-fuel crowd. Progressives have cited IEA projections of waning global oil and gas demand to push policies to limit U.S. production. Fortunately, they haven’t succeeded in stranding U.S. oil exports, which are now also mitigating supply disruptions for allies. Europe and Asia can thank former House Speaker Paul Ryan, who in 2015 drove legislation to overturn the U.S. embargo on oil exports that was imposed in 1975. Mr. Ryan cut a deal with Barack Obama to lift the ban in return for extending renewable subsidies. This spurred more shale fracking without crimping U.S. supply since Gulf Coast refineries aren’t well-suited to process lighter shale blends.

As a result, the U.S. is now a net exporter of oil. Since 2015, U.S. crude exports have increased nearly 10-fold to four million barrels a day, about 1.8 million of which supply refineries in Europe and 1.5 million in Asia and Australia. (See the nearby chart.) U.S. exports have reduced allies’ reliance on Russia and the Middle East. Yet that hasn’t stopped progressives from trying to reinstate the ban. Democrats introduced legislation during the Biden years to block crude exports. “We cannot continue to fuel the global climate crisis at the expense of American communities burdened by fossil fuel pollution,” Massachusetts Sen. Edward Markey said in 2021. U.S. exports are “perpetuating a merry-go-round of oil dependence,” Oregon Sen. Ron Wyden said. These guys are clueless about the security and economic benefits of fossil fuels. They prefer that allies depend on Russia and the Middle East. Biden Energy Secretary Jennifer Granholm floated a ban on crude exports in 2021, though wiser heads prevailed after Russia invaded Ukraine.

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Real Clear Politics – March 11, 2026

If Trump Can’t Keep The Strait of Hormuz Open, This War Will Be An American Defeat Before Very Long: Newt Gingrich

FOX News contributor Newt Gingrich on FOX Business’ “Kudlow” said it will be considered an American defeat if President Trump can’t keep the Strait of Hormuz open. “I don’t care what it costs. If they can’t keep it open, this war will in fact be an American defeat before very long,” Gingrich told host Larry Kudlow.

“If we can get the Strait open, then the world will calm down, the price of oil will collapse, and everything will be fine,” Gingrich said. “So I think the president probably has two or three weeks—every day he can hold open the Strait of Hormuz. Every day that oil tankers go through that strait safely, he buys another week in terms of getting things done. And that’s why I think the actual critical path to this whole fight is to get the Strait open, have lots of ships coming through safely, have the price of oil collapse, and all of a sudden people will relax and say, you know, we are going to win this thing. But that, I think, is the question which has to be answered.”

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The Wall Street Journal – March 10, 2026

The World Needs These Two Middle East Pipelines Now More Than Ever*

Two pipelines built just for the occasion—one in Saudi Arabia and one in the United Arab Emirates—bypass the Strait of Hormuz. They are the only ways to get a significant amount of oil out of the Persian Gulf into world markets. The pipes can’t replace the flows carried by tanker ships, but their use is almost all that is preventing an even worse crisis from unfolding. Saudi Arabia in particular is pumping as much crude as possible through its pipeline to its Red Sea port of Yanbu, built in the early 1980s when the Iran-Iraq War threatened shipping in the Persian Gulf.

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Reuters – March 11, 2026

Historic oil reserve release is only a band-aid on a gaping supply shock: Ron Bousso*

The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating supply shock triggered by the Iran war. But it will offer only limited relief as long as energy exports ​from the Middle East remain blocked. The IEA said on Wednesday that its 32 member countries unanimously agreed to move forward with the biggest collective drawdown ever from their ‌strategic petroleum reserves (SPR).

The release is more than double the scale of the previous – and until now, largest-ever – coordinated drawdown in March 2022 following Russia’s invasion of Ukraine, when the U.S. released 180 million barrels. Yet the enormity of the crisis confronting the global oil market today certainly warrants these record-breaking volumes – if not more. Nearly 20 million barrels per day (bpd) of supply – roughly a fifth of global output – have been trapped inside the Gulf since the effective closure of the Strait of Hormuz shortly after the launch ​of the joint Israel‑U.S. war against Iran on February 28. Measured against that disruption, the announced release looks a lot less impressive. After only 11 days of conflict, the current market deficit has already ​reached roughly 220 million barrels. Saudi Arabia and the United Arab Emirates are working to divert some exports to ports outside the Gulf, which should provide additional ⁠relief, but those flows remain limited and vulnerable.

 

Utilities, Electricity & Renewables

 

San Antonio Express-News – March 11, 2026

New ERCOT process aims to end ‘doom loop’ for large power users seeking to connect to Texas’ grid*

When the Electric Reliability Council of Texas designed its process for connecting big industrial users to the statewide grid, it envisioned receiving from eight to 15 such requests every three months. Now, with the state at ground zero of the data center boom, it’s getting as many as 100 requests in that same time period. So, for the past 18 months, the grid operator has been discussing how to handle the rapid influx of demand. It’s looking for a way to keep data centers and other big requests from getting stuck in what’s been nicknamed the “doom loop.”

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San Antonio Express-News – March 11, 2026

Data centers are economic infrastructure for San Antonio*

San Antonio is known as Military City, USA, for good reason. We are home to the largest joint military installation in the U.S. Department of Defense, a nationally recognized cybersecurity ecosystem, and a growing advanced manufacturing and health care sector. Every one of these industries depends on something most people never see — data. Data centers power the digital infrastructure behind modern life. They support defense operations, cybersecurity, financial transactions, telehealth, logistics and the artificial intelligence tools increasingly used in both commercial and military environments. In today’s economy, digital infrastructure is foundational, not optional.

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Just the News – March 11, 2026

Oil-rich Texas to build power lines for renewables, and landowners face possible eminent domain

xas produces so much oil that if it were an independent country, it would rank in fourth or fifth place in the world’s top oil producers. Yet the state is still looking to build massive high-voltage transmission lines primarily to satisfy the needs of wind, solar and battery facilities.  The lines will cross over tens of thousands of acres of private land. The Texas legislature shrunk the timeline to construct them at breakneck speed, which has made the landowners very conerned, considering they have little time to provide input and are potentially facing eminent domain to make room for the projects.

The power lines are 765 kilovolt lines, which are strung over 200-foot towers requiring corridors 200 to 300 feet wide.  Margaret Byfield, executive director of the American Stewards of Liberty, said that landowners who object to the lines crossing their land are effectively asking for the company to reroute it to other property owners, who also don’t want the lines on their property.  “So it pits neighbor against neighbor. It’s just a terrible system,” Byfield told Just the News.

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Governing – March 11, 2026

Why Texas Is Outpacing New York in Renewable Energy Development

Over the last two years, Texas added more wind and solar power than New York has in the last two decades, a gap that has increased even as the mandates required by the state’s 2019 Climate Act are looming.
Those mandates, which Gov. Kathy Hochul wants to delay, include having an energy system relying entirely on clean energy by 2040. But nearly seven years after they were established, the state isn’t on track to hit that mandate or its near-term target of converting the grid to 70% renewable energy by 2030.

Texas never set ambitious clean energy goals, but is building faster than New York, in part because of deregulation, limited local opposition and investments into the infrastructure that carries power from rural parts of the state to urban cores.

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Reuters – March 11, 2026

RWE targets gas-fired power plants in $20 billion US expansion drive*

RWE, Germany’s largest power ​producer, on Thursday said ‌it would expand more aggressively in the United ​States, a market ​where data centres have significantly ⁠fuelled power demand, ​by investing in new ​gas-fired power plants. Overall, the U.S., where RWE already has 13 ​gigawatts (GW) of installed ​solar, wind and battery storage ‌capacity, ⁠will account for 17 billion euros ($20 billion), or nearly half, of ​the company’s ​planned ⁠spending by 2031.

Installed capacity in ​the United States is ​expected ⁠to increase to 22 GW as a ⁠result, ​the company ​said.

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Politico – February 28, 2026

Solar power’s newest friends: MAGA influencers

Environmentalists and solar power proponents have found a pair of surprise allies: Katie Miller and Kellyanne Conway. Miller, the wife of White House deputy chief of staff Stephen Miller, and Conway, the polling guru who led President Donald Trump’s first campaign, raised eyebrows this month when they publicly touted the clean energy source that has come under fire from the Trump administration.

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Phys Org – March 4, 2026

A tool lets residents track Texas power outages and aids in disaster response

Texas is known nationwide for its grueling hot summers. However, hurricanes and occasional winter weather can have a harsher impact on citizens and infrastructure due to the effects of power outages. Led by director and primary investigator Dr. Samuel Brody, researchers from the Institute for a Disaster Resilient Texas (IDRT) have created a tool that can show residents, emergency responders and policy makers where power outages are occurring in near real-time, helping users respond to disasters faster, safer and smarter.

The live power outage map is part of the Texas Disaster Information System (TDIS)—a project in partnership with the General Land Office, Texas Water Development Board, and the Texas Division of Emergency Management—aiming to create data-driven systems to support disaster mitigation, response and recovery. The tool addresses a long-standing challenge in disaster response—knowing where power is currently out, and what services are affected by outages.

 

Regulatory

 

The Federal Aviation Administration (FAA) approved eight pilot programs that will allow a handful of companies, including Archer Aviation, Beta Technologies, Joby Aviation, and Wisk to start widespread electric aircraft testing as early as this summer.

The three-year program, which will span 26 states, is designed to ensure U.S. companies lead the way in next-gen aircraft used for personal travel, regional transportation, cargo logistics, and emergency medicine, Department of Transportation Secretary Sean Duffy said in remarks Monday.

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Texas Energy Report NewsClips

Wednesday March 11, 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

Oil prices moved higher early on Wednesday, despite a report that there would be a historic release of emergency reserves from the International Energy Agency.

US crude oil gained 1.3% to trade at $84.55 a barrel.

At 3:36 am ET, global benchmark Brent crude futures rose 0.7% to $88.39 a barrel.

On Tuesday, G7 energy ministers convened in Paris to discuss the U.S.-Iran war and its impact on global oil and gas markets. The conflict has disrupted energy production in the Middle East and led to a blockade in the Strait of Hormuz, a critical shipping route.

The Wall Street Journal reported Tuesday evening that the IEA had proposed the largest ever release of oil from its strategic reserves, exceeding the 182 million barrels that its member states put on the market following Russia’s full-scale invasion of Ukraine in 2022. Countries are set to decide on Wednesday whether to release emergency oil stocks.

 

Top Stories

 

Bloomberg – March 10, 2026

Trump Says US to Get New Oil Refinery With Reliance Backing*

The Brownsville refinery will be designed to run entirely on US shale oil, America First said Tuesday.

President Donald Trump said the US will get its first new oil refinery in 50 years with the help of investment from India’s Reliance Industries Ltd. “I am proud to announce that America First Refining is opening the FIRST new U.S. Oil Refinery in 50 YEARS in Brownsville, Texas,” Trump said Tuesday in a post on Truth Social. The announcement came as the White House sought to quell concerns about rising energy prices due to the war in Iran. Trump is weighing several possible options to lower the cost of oil and gasoline, including the release of inventories from emergency reserves, as well as military escorts for tankers through the Strait of Hormuz.

The Texas refinery is the same project that was being developed by Element Fuels, which announced in June 2024 it had completed site preparation and received the necessary permits to construct a plant capable of processing about 160,000 barrels of oil daily. Element Fuels’ web address now redirects to the website for America First Refining, the company Trump said will open the new refinery. The company plans to break ground on the new refinery in the second quarter of this year and has already signed a 20-year agreement to sell the fuels it produces, according to a Tuesday statement from America First Refining. The sales deal was made with Reliance.

Representatives for Reliance couldn’t immediately be reached for comment. The Energy Department referred questions to the White House, which didn’t immediately respond to a request for more details. The Trump administration is pursuing a policy of US energy dominance, which promotes increased production of oil, natural gas and coal. But while US oil output has surged over the past decade and a half on the back of the shale revolution, the nation relies on an aging array of refineries. Several of the plants have also shut down in recent years, adding to tightness in processing capacity.

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The Wall Street Journal – March 10, 2026

IEA Proposes Largest Ever Oil Release From Strategic Reserves*

The International Energy Agency has proposed the largest release of oil reserves in its history to bring down crude prices that have soared during the U.S.-Israel war with Iran, officials familiar with the matter said. The release would exceed the 182 million barrels of oil that IEA member countries put onto the market in two releases in 2022 when Russia launched its full-scale invasion of Ukraine, the officials said. The proposal was circulated at an emergency meeting of energy officials from the IEA’s 32 member countries on Tuesday. Countries are expected to decide on the proposal Wednesday. It would be adopted if none objects, but even one country’s protests could delay the plan, officials said.

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Texas Tribune – March 10, 2026

Governor blasts Corpus Christi leaders over looming water shortage, threatens a state takeover

Gov. Greg Abbott criticized Corpus Christi leadership Tuesday over its looming water crisis and warned that if local leaders do not take immediate action, the state may need to intervene to ensure residents and businesses have enough. “Corpus Christi is a victim not because of lack of water. They’re a victim because of a lack of ability to make a decision,” Abbott said at a press conference after a reporter asked him to comment on an Inside Climate News story quoting former regional and city officials who said the potential shortage is a result of years of delayed and poor decisions by city leaders.

“We can only give them a little time more before the state of Texas has to take over and micromanage that city and run that city to make sure that every resident who goes to the water tap and turns it on, they’re going to be getting water out of their faucet, not because of what local leaders are doing, but because of what the state of Texas will do,” Abbott said.

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Houston Chronicle – March 10, 2026

Houston oil majors face a ‘double-edged sword’ as Iran conflict drives prices, disrupts operations

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Reuters – March 10, 2026

Brent to trade above $95 for next two months on Iran war, EIA says*

Brent oil prices are set to trade above $95 a barrel over the next two months as the Iran war disrupts supplies, ​before falling to around $70 by the end of the year, the Energy Information Administration ‌said on Tuesday in a monthly report. Oil shipments have been largely blocked from using the Strait of Hormuz, a critical chokepoint through which a fifth of global oil flows every day, and this will cause Mideast ​oil output to fall further in the coming weeks, the EIA said in its ​Short-Term Energy Outlook.

Saudi Arabia began oil output cuts, sources said on Monday, joining other ⁠Gulf producers including Iraq and Kuwait in reducing production amid the constraints. Those production shut-ins will ​gradually ease as transit resumes, the EIA said, adding that once oil flows are reestablished through ​the Strait, global oil production will continue to outpace demand.

 

The Latest TERse Tips

The Trump administration asked Israel on Monday not to carry out further strikes on energy facilities in Iran, particularly oil infrastructure, according to three sources familiar with the matter — Axios

Diamondback Energy, Inc. announced Tuesday the pricing of an underwritten public offering of 11,000,000 shares of its common stock by SGF FANG Holdings, LP — see the press release

Chevron has appointed Emmanuelle Garinet as Director of Exploration for the Americas and Sub-Saharan Africa — World Oil

GridStor has secured a $120m (€103.04m) financing package from NORD/LB and Siemens Financial Services for the Gunnar Reliability Project, a battery energy storage facility in Texas — the project features a 150MW/300 megawatt-hour (MWh) facility in Hidalgo County, intended to enhance energy reliability in the Lower Rio Grande Valley region once operational — Power Technology

Fitch Ratings has assigned a ‘BBB+’ rating to AEP Texas Inc.’s offering of series Q senior notes — Fitch

 

Oil & Gas Texas

 

The Hill – March 10, 2026

Exxon evacuates personnel in Middle East

Exxon Mobil has evacuated some personnel from the Middle East amid growing instability in the region due to the ongoing U.S.-Israeli conflict with Iran, CEO Darren Woods told Reuters in an interview on Tuesday. “Our first and highest priority is ​making sure our people remain safe, and we evacuated folks who weren’t critical or essential to the operations that we were providing support for,” Woods told the outlet.

Reuters reported that Exxon scaled back some of its operations in the region to manage oil inventory levels as shipping traffic through the Strait of Hormuz, a critical maritime chokepoint, remains disrupted. The company is a partner of Qatar-owned petroleum company QatarEnergy, which halted production of liquified natural gas and related products last week following a reported Iranian attack on two of its energy facilities. Qatar’s Minister of Energy Saad Sherida al-Kaabi has warned that a prolonged conflict could lead Gulf states to halt exports within weeks, destabilizing the global market.

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Houston Chronicle – March 10, 2026

Exxon wants to ‘domicile’ in Texas amid shareholder and climate fights*

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KBMT – March 10, 2026

ExxonMobil carbon storage project moves toward state hearing as Cheek residents raise concerns

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Stocktwits – March 10, 2026

Battalion Oil Acquires New Oil And Gas Assets In Texas – BATL Stock Takes A Breather After Relentless Rally As Crude Prices Slump

Battalion Oil Corp. on Tuesday, announced the acquisition of 7,090 net acres of oil and gas assets in Ward County, Texas, from RoadRunner Resource in an all-stock deal. Battalion will issue 485,000 shares of its common stock to complete the acquisition. The two companies had previously partnered on the acreage under a joint venture agreement.

The newly acquired area adjoins the company’s existing Monument Draw position, expanding its overall footprint in the region. The deal is expected to add about 30 new drilling locations targeting the Wolfcamp A, Wolfcamp B, and 3rd Bone Spring formations.

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Bloomberg – March 10, 2026

Can Tapping Oil Reserves Tame the Iran War Price Shock?*

What’s the current discussion about tapping oil reserves? — Finance ministers from the Group of Seven said on March 9 that while they’re prepared to deploy strategic oil reserves, they hadn’t reached the point of taking action. Trump has been reluctant to release oil from the US reserve. He and his energy secretary, Chris Wright, have characterized high energy prices as temporary. As for other countries, Japan instructed oil storage bases to make preparations for a release, Nikkei reported, indicating the country might proceed independently, though the government said no decision had been made. India said on March 9 that it wasn’t planning to tap its buffer.

Would tapping the reserves make up for the oil that’s being choked off by the war? — Oil traders have expressed doubts about that. Even if the US SPR’s maximum drawdown rate is coupled with flows from other IEA members, it might cover just a portion of the 11-to-16 million barrels of supply from the Persian Gulf that Citigroup Inc. estimates is being lost each day. The maximum drawdown capability of the SPR is 4.4 million barrels a day, according to the Energy Department’s website, and it takes 13 days for SPR oil to reach the open market after a presidential decision. However, an analysis prepared by the Energy Department in 2016 said the actual amount could be limited to 1.4 million barrels to 2.1 million barrels per day. During the 2022 release following the Russia’s invasion of Ukraine, the amount of oil released from the SPR never topped more than 1.1 million barrels a day, according to an analysis of Energy Information Administration data by ClearView Energy Partners.

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Houston Chronicle – March 10, 2026

18 Houston billionaires — and one icon — make Forbes ranking of world’s wealthiest people in 2026*

Seventeen Houston billionaires return to this year’s list, with Richard and Nancy Kinder ranking as the wealthiest among them. Kinder, chair of pipeline giant Kinder Morgan, comes in at No. 232 this year, Forbes said, with a net worth of $13 billion. The Kinders recently reaffirmed their pledge to give away 95% of their net worth, largely to Houston charities, during their lifetimes or at their deaths. Other prominent Houston billionaires on the list include Tilman Fertitta, currently serving as U.S. Ambassador to Italy, entrepreneurs Jeffery Hildebrand and Dan Friedkin, and philanthropists John and Laura Arnold.

Thanks to factors including “sizzling markets and favorable fiscal policies,” Forbes noted, the world’s billionaires are becoming both richer and more numerous. The 3,428 men and women on this year’s list are collectively worth $20.1 trillion, up $4 trillion compared to 2025.

 

Oil & Gas National & International

 

Yahoo! News – March 10, 2026

UAE’s biggest oil refinery halts operations after drone strike causes fire

The largest oil refinery in the United Arab Emirates, located in Ruwais, has suspended operations following a drone strike that sparked a fire in the industrial area, Bloomberg reported on Tuesday. Abu Dhabi National Oil Co. (ADNOC) is currently assessing the extent of the damage at the refinery, which has a daily processing capacity of 922,000 barrels of oil.

The attack on the refinery, part of a growing wave of incidents across West Asia, has raised concerns about disruptions to energy assets in the Persian Gulf, a region that is vital to global oil supplies. The UAE government confirmed the fire at the Ruwais industrial zone, which also houses a fertilizer plant, chemical facilities, and a power plant. A major oil export facility is also located nearby. The Abu Dhabi Media Office reported that emergency services were responding to the blaze.

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S&P Global Platts – March 10, 2026

Aramco’s East-West pipeline to hit full capacity in ‘next couple of days:’ CEO

The 7 million b/d East-West pipeline connecting Saudi Arabia’s eastern and western coasts will hit full capacity “in the next couple of days,” Saudi Aramco CEO Amin Nasser said March 10 on the company’s third-quarter earnings call. Aramco has been shifting crude flows to the Yanbu terminal on the Red Sea as exports from its west coast are largely shut in due to disruptions to shipping through the Strait of Hormuz amid the war in the Middle East.

Exports of Saudi oil from Yanbu surged to a record high in the week ended March 10, shipping data from S&P Global Commodities at Sea showed, as more crude flowed west. Nasser also said that Aramco, the world’s largest crude exporter, is meeting “the majority” of its customers’ requirements by tapping its storage facilities in Asia, the Mediterranean and Northwest Europe.

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The Wall Street Journal – March 10, 2026

Saudi Aramco Could Restore Output Quickly Once Strait of Hormuz Reopens*

Saudi Aramco said it could restore production within days of the Strait of Hormuz reopening, while warning that prolonged disruption of the waterway poses severe consequences for oil markets and the global economy. “There would be catastrophic consequences for the world’s oil markets, the longer the disruption ​goes on…the more drastic the consequences for the global economy,” Chief Executive Officer Amin Nasser told reporters ⁠on Aramco’s earnings call Tuesday. Normally, around 20% of the world’s oil and gas passes through the vital waterway each day, but it has been effectively closed since the start of the Iran war. U.S. naval escorts have been touted as one option to help restart tanker movements through the strait but no formal plans have been laid out.

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S&P Global Platts – March 10, 2026

Hormuz traffic drops to three ships, with one carrying Iran crude to China

Traffic through the Strait of Hormuz dropped to three ships on March 9, including the US-sanctioned VLCC CUME, which loaded Iranian crude and is bound for China, according to a March 10 report by S&P Global Commodities at Sea. The CUME is managed by Harry Victor Ship Management LLC, which is linked to Iran’s Trilance Petrochemical Co., according to the US sanctions list. Phone numbers listed for Harry Victor Ship in Dubai were not working.

The Hormuz traffic was down from four ships on March 8, according to the CAS report. The two other ships to exit Hormuz on March 9 were a bitumen tanker and a Panamax bulk carrier, it said. An estimated 2.2 million barrels of crude were loaded in the Middle East Gulf on March 9, with 1.6 million barrels from Saudi Arabia and 600,300 barrels from Kuwait, according to the report, citing preliminary data. As of March 9, 289 million barrels of Gulf-origin crude were in transit east of Hormuz, having cleared the chokepoint before the Feb. 28 war began, CAS said.

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The Wall Street Journal – March 10, 2026

Iran’s Control of Hormuz Means It’s Exporting More Oil Today Than Before the War*

Iran is exporting more oil through the Strait of Hormuz than before the war, showing it is in control of a strategic waterway that it has closed off to the rest of the region’s oil producers. As Gulf Arab oil producers from Saudi Arabia to Iraq cut production and scramble for new routes that bypass the strait, Iran is conducting business as usual, according to data from tanker-tracking firm Kpler, throwing a financial lifeline to Tehran as it comes under blistering attack from the U.S. and Israel.

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The Wall Street Journal – March 10, 2026

China Has Spent Years Preparing for the Iran Oil Crisis*

The turmoil in the global energy market from war in the Middle East is exactly the sort of emergency scenario that China has long been preparing for. Worried that conflict in the region could wreak havoc on its economy by cutting off the supply of oil, Beijing has been spending lavishly to limit how much it needs to import, while building up large stockpiles and diversifying where it gets its energy from. The Iran war has brought many of those fears to fruition, serving as the biggest test yet of China’s bid to fortify its economy against what it views as reckless behavior by the U.S. So far, Beijing is weathering the storm.

 

Utilities, Electricity & Renewables

 

KFDA – March 10, 2026

More than 50 people sue oil and natural gas company over Windy Deuce Fire

More than 50 people have filed lawsuits over the Windy Deuce fire that burned 144,000 acres in the Texas Panhandle in 2024. The lawsuits claim restructuring officers for Polaris Operating, LLC were negligent and did not shut off power or conduct inspections during the time of heightened risk.

On February 26, 2024, an ignition involving electrical distribution lines occurred near US Highway 87. The power lines then ignited what became known as the Windy Deuce Fire.

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Community Impact – March 10, 2026

Base Power, Austin back away from economic incentive agreement for $265M expansion

Home energy provider Base Power is no longer pursuing a multimillion-dollar city incentive deal for a new manufacturing facility but may still be expanding its local presence. … Earlier this year, city officials were set to consider another investment from Base under Austin’s Business Expansion Program for a $265 million east side manufacturing and production facility. A proposed economic development agreement expected to support hundreds of new jobs was on City Council’s Feb. 5 agenda but was pulled before a vote.

The city and Base had “mutually agreed not to move forward” on that outlined incentive deal, Austin Economic Development spokesperson Carlos Soto said. “We appreciate Base Power’s engagement throughout the process and remain supportive of companies exploring opportunities to invest and grow in Austin,” Soto said in an email. “Austin continues to be a strong and competitive environment for businesses in the energy and advanced manufacturing sectors, and we look forward to working with companies that are interested in creating jobs and investing in our community.”

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Tech Crunch – March 10, 2026

Google and Tesla think we’re managing the electrical grid all wrong

Google, Tesla, and data center developer Verrus are among a group of companies arguing that the electrical grid is being underutilized and they want everyone — especially politicians — to know about it. The three companies along with HVAC giant Carrier, virtual power plant company Renew Home, distributed energy resource developer Sparkfund, and smart electrical panel startup Span founded a new group called Utilize to get that message across. The group, which launched Tuesday, is advocating to change the way the grid is built and used. The group points out, correctly, that the grid is designed for brief bursts of high demand; most of the time there’s lots of capacity that goes unused.

Utilize thinks that should change. The group argues that smarter ways to use that capacity already exist. Utilize name-checks a number of those solutions, including battery storage, demand response, and virtual power plants, all of which have emerged en masse over the last decade, but remain under utilized. (Oh, that’s where the name comes from.)

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Fort Worth Star Telegram – March 10, 2026

Oncor wants to expand, improve southeast Fort Worth substation*

Oncor Electric is requesting that the Fort Worth City Council approve the rezoning of a southeast Fort Worth lot containing a power substation that the utility company intends to expand and renovate, documents say. According to documents filed with the city of Fort Worth, Oncor is requesting that the City Council approve a request to rezone 5.27 acres 5621 Parker Henderson Road. The property is zoned for two-family and light industrial use. Oncor is requesting that the property be zoned for light industrial use with a conditional use permit for an electrical substation with a site plan included.

Half of the site is vacant. At the Feb. 11 Zoning Commission meeting, representatives from Kimley-Horn and Oncor said improving the substation will lessen the demand on other Oncor substations in the area. “Due to the growing demand in this area, Oncor needs to improve that site as well as expand it to the east,” explained Oncor engineer Rob Myers.

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MISO, SPP eye 500-kV cross-border projects to bolster reliability, save money

The Midcontinent Independent System Operator and the Southwest Power Pool are considering two sets of 500-kV transmission projects that would provide reliability, economic and transfer benefits across their southern seam, according to a draft report discussed Friday. The potential projects grew out of the SPP-MISO 2024-25 Coordinated System Plan study, which aimed to find transmission projects that would benefit both systems along their border in Arkansas, Louisiana, Oklahoma and Texas.

SPP and MISO are taking comments on the draft report and could seek approval of a final set of transmission projects late this year or in early 2027.

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Politico – March 10, 2026

US solar capacity expected to triple by 2036*

The U.S. solar industry is projected to provide half of annual additions to the electric grid through mid-century despite the rollback of tax credits and Trump administration funding cuts, according to a new report. The upped forecast from research firm Wood Mackenzie and the Solar Energy Industries Association on Tuesday suggests surging electricity demand and cost pressures facing natural gas and other competing resources are helping to buoy solar power. Overall, U.S. solar capacity is now expected to nearly triple by 2036, rising from 279 gigawatts in 2025 to 769 gigawatts.

“Solar will continue to be the dominant source of new power capacity in the United States, even as gas generation continues to grow,” said Michelle Davis, head of solar at Wood Mackenzie, in a statement. “Strong demand growth combined with escalating costs of new gas plants will allow solar to remain competitive, even without tax credits. Yet multiple uncertainties are facing the industry, including the Iranian war.

 

The New York Times – March 10, 2026

U.S. Solar Installations Fell in 2025 as Trump Attacked Clean Energy*

Solar power installations declined in the United States last year, as the Trump administration sought to impede the growth of renewable energy, according to an industry report released on Tuesday. Solar energy maintained its position as the largest source of new electricity generation added to the electric grid, but the amount added was 14 percent lower than in 2024, according to the report and data published by the Solar Energy Industries Association and Wood Mackenzie, an energy research firm.

Last year was much better for battery storage installations, which increased to their highest annual level, the report said. Trump administration officials have not criticized batteries as much as they have criticized solar and wind power. “The emphasis in federal energy policy that happened throughout 2025 on fossil fuels and a kind of a move away from renewables definitely made an impact on the solar industry, to be sure,” said Michelle Davis, head of global solar at Wood Mackenzie Power & Renewables. “It’s undeniable.”

 

Regulatory

 

Source NM – March 10, 2026

Climate chilled at New Mexico Legislature — again

It was bitingly cold as legislators, staff, lobbyists and others rolled into New Mexico’s capitol building, the Roundhouse, in Santa Fe on Jan. 26. The annual session had begun six days earlier — a short, one-month session dedicated almost exclusively to the state budget. A cold front had blown off the North Pole and swooped down through Canada and the central U.S., dragging record cold temperatures behind it. In Santa Fe, which sits at 7,000 feet, temperatures dipped to the single digits overnight that Sunday and Monday — pretty cold, but not unusual for the capital in January. However around Carlsbad, New Mexico, 250 miles farther south and nearly 4,000 feet lower, it was even colder, with three nights dropping below zero. Sitting in the middle of the broad, flat Permian Basin that stretches across southeast New Mexico and into Texas, the city can normally count on much warmer temperatures than most other corners of the state. But not this last week of January.

The basin is the most productive oilfield in the nation, with tens of thousands of oil and gas wells and related infrastructure just in New Mexico’s section of the Permian. And when the temperatures there plunged, oil and gas infrastructure began flaring and venting unusually large amounts of natural gas. According to records kept by the New Mexico Oil Conservation Division, the January spike was the largest amount of gas burned or lost to the atmosphere in at least two years — maybe longer.

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Texas Energy Report NewsClips

Tuesday March 10, 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

Oil prices plunged as much as 10% Tuesday before paring losses, as investors assessed comments from U.S. President Donald Trump on the ongoing conflict in the Middle East and oil flows via the critical Strait of Hormuz.

WTI fell 3.8% to about $91 per barrel. The declines come after oil surged past $100 on Monday.

Brent crude was down around 4.3% at $94.62 per barrel as of 11.45 p.m. ET Monday.

Trump who had signaled Monday that the conflict with Iran could end soon, sending oil prices lower, warned later in the day that Tehran would be hit “twenty times harder” if it attempted to halt oil flows through the Strait of Hormuz.

“If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far,” U.S. President Donald Trump said in a post on Truth Social Monday stateside.

 

Top Stories

 

Reuters – March 10, 2026

Iran says oil blockade will continue until attacks end, Trump threatens to hit harder*

Iran’s Revolutionary Guards said on Tuesday they would not allow “one litre of oil” to be shipped ​from the Middle East if U.S. and Israeli attacks continue, prompting a warning from President Donald Trump that the U.S. would hit Iran much harder if it ‌blocked exports from the vital energy-producing region. Trump’s comments came after global financial markets seesawed on Monday on concerns that Iran’s security establishment was rallying behind new Supreme Leader Mojtaba Khamenei and was not prepared to back down any time soon.

Trump said the United States had inflicted serious damage on Iran’s military and predicted the conflict would end well before the initial four-week time frame he had laid out, though he has not defined what victory would look ​like.

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Associated Press – March 9, 2026

Trump says Iran war could be over soon, but oil disruption would trigger harsher US strikes

U.S. President Donald Trump said Monday that the war against Iran could be short-lived, but he left open the possibility of an escalation in fighting if global oil supplies are disrupted by the Islamic Republic, which chose a new hard-line supreme leader. Oil prices briefly shot to their highest level since 2022 a day after Iran selected Ayatollah Mojtaba Khamenei to succeed his late father as Iran’s supreme leader. Investors saw it as a signal that Iran was digging in 10 days into the war launched by the United States and Israel.

But prices later fell and U.S. stocks rose on hopes that the war with Iran may not last much longer. “We took a little excursion” to the Middle East “to get rid of some evil. And, I think you’ll see it’s going to be a short-term excursion,” Trump told Republican lawmakers at his golf club near Miami.

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The Hill – March 9, 2026

Trump, Pentagon give conflicting signals on end to Iran war

Related: Trump says rising oil prices ‘a very small price to pay’ for ‘safety and peace’ — The Hill

Related: Iran names former supreme leader’s son to succeed him as oil prices soar — Associated Press/KENS

President Trump and the Pentagon are offering conflicting signals on how long the U.S. war with Iran will last, as officials in Tehran prepare to dig in for a longer fight and with the economic fallout from the clash hurting the U.S. and global economy. Trump on Monday suggested victory is in sight but with the caveat that the U.S. is not yet done hammering Iran.

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The Wall Street Journal – March 9, 2026

Why Iranian Regime Change Would Transform Global Energy Markets*

The Iran conflict is rocking energy markets and threatening to squeeze the global economy, but beyond the immediate crisis lies a staggering economic prize—unlocking the oil industry in a nation with one of the world’s largest proven reserves. On Monday, Brent crude surged past $100 a barrel before falling back in volatile trading as the conflict paralyzed the Strait of Hormuz, a narrow passage between Iran and Oman that a fifth of the world’s oil and liquefied natural gas flows through. Thousands of ships are stuck outside the Persian Gulf. But there is promise lurking behind the peril.

For years, Iran’s oil industry has been strangled by international sanctions, starving it of most foreign investment and technology. If that persists, it would likely lead to an eventual collapse in production. “That can change quickly, in a scenario as we now see in Venezuela where expectations of increasing production were quite bleak but already showing improvement,” said Young. After years of U.S. sanctions, the Venezuelan energy sector suffered a heavy blow amid a lack of access to technology and chronic capital flight. Since U.S. forces captured Venezuelan President Nicolás Maduro in January, Washington’s push to lift sanctions and attract foreign investment has positioned the nation’s oil sector for a steady, albeit lengthy, recovery.

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NBC News – March 9, 2026

Trump says it’s ‘too soon’ to talk about seizing Iran’s oil — but doesn’t rule it out

President Donald Trump on Monday left open the prospect of acquiring Iranian oil as the U.S. proceeds with a war officials have said is aimed at depriving Iran of a nuclear weapon and defanging it so it no longer poses a threat to the U.S. or Middle East neighbors. Trump told NBC News that he did not want to discuss whether he would like the U.S. to seize Iranian oil but added: “Certainly people have talked about it.”

He mentioned Venezuela, where the U.S. launched a raid in January that captured the country’s leader, Nicolás Maduro. Since then, the Trump administration has taken steps to secure and tap Venezuela’s oil reserves. In his State of the Union speech last month, Trump said the U.S. has already gotten more than 80 million barrels of oil from Venezuela.

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S&P Global Platts – March 9, 2026

Hormuz Strait traffic tapers amid war as tankers await passage: CAS

The number of ships transiting the Strait of Hormuz has continued to taper since the start of the war in the Middle East, falling to just four ships on March 8 from 91 seen on Feb. 28, according to S&P Global Commodities at Sea data collected on March 9. AIS signals from S&P Global’s Market Intelligence Network showed four ships transiting the Strait as of March 8, comprised of an Iranian Medium Range tanker, the Dalia, two bulk carriers and one other ship.

Additionally, Iranian oil and LPG shipments have continued to pass through in recent days, such as the Very Large Crude Carrier, Voy, which is carrying Indian crude and destined for China, the data shows. Of total ships crossing the Strait, the number of oil and chemical tankers has dropped to just one as of March 8 from 44 on Feb. 28, the data showed.

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S&P Global Platts – March 9, 2026

Biofuel complex rocked by volatility in underlying fossil markets

SAF and renewable diesel outright prices hit multi-month highs following the outbreak of war in the Middle East on Feb. 28, driven by strength in the underlying fossil contracts which they are priced against. There is often a lag between movements in the underlying fossil contract and the corresponding adjustment to bio-premiums, European biofuel traders said.

As of March 6, the downward momentum for premiums had not mitigated the drastic increase in underlying fossil fuel products, leaving market participants unsure of when, and to what extent, biofuel prices will soften. Elsewhere, biodiesel and ethanol markets have seen mixed reactions to the increasing fossil market volatility, and disruption to shipping through the Strait of Hormuz.

 

The Latest TERse Tips

Webb County officials say energy efficiency improvements across county facilities have generated millions of dollars in savings over the past several years — Laredo Morning Times

Chemical manufacturers, product makers, and product retailers are gearing up for new state-level restrictions on products sold in stores and online that contain per- and-polyfluoroalkyl substances — Hunton

Trump’s War on Wind Energy Is Costing Him Blue-Collar Union Support — “A lot of my members voted for President Trump in the last election, and they completely turned around on him,” one union chapter president, whose members work on offshore wind projects, said — NOTUS

The oil & gas industry is experiencing a fundamental transformation in how companies access and deploy capital in 2026, and despite strong balance sheets and robust free cash flow generation, the sector is witnessing strategic shifts in funding sources and investment priorities that signal a new era of capital allocation, writes Akin Gump

NY Gov. Kathy Hochul’s budget director all but confirmed that the governor plans to propose changes to the state’s climate law to ease statutory mandates for the costly clean energy transition — City and State

 

Oil & Gas Texas

 

KXAN – March 9, 2026

Oil prices drop by more than $40 per barrel from dramatic early morning rise

On Monday morning, the price of crude oil futures opened at $115.62/barrel. It was the first time oil had crossed the $100/barrel threshold since mid-2022 — a staggering jump from when the market closed on Friday at $91.27/barrel. The spike was largely driven by shipping disruptions in the Strait of Hormuz. Around 20% of the world’s oil flows through the small naval passage bordering Iran. Due to the United States’ military operation in Iran, many shippers have taken extra precautions in recent days.

“This is caused by the actions of Iran,” Texas Oil and Gas Association Todd Staples said. “The impact that consumers are experiencing is because Iran has aggressively gone after their Gulf state neighbors — they’ve aggressively essentially stopped the flow of about 20% of the oil supply.”

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The Hill – March 9, 2026

Schumer calls on Trump to tap Strategic Petroleum Reserve amid rising oil prices

Senate Democratic Leader Chuck Schumer (N.Y.) on Sunday called on President Trump to immediately release oil from the Strategic Petroleum Reserve amid rising oil and gas prices caused by the military conflict in Iran. Oil prices jumped to nearly $120 per barrel before dropping some on Monday as missile strikes on Iran and Tehran’s retaliatory strikes on Arab countries have put pressure on supplies.

Brent crude reached $119.50 per barrel before falling back to $106 per barrel, while West Texas Intermediate rose to $119.48 per barrel before dropping back to $103. “The Strategic Petroleum Reserve exists for moments exactly like this,” Schumer said in a statement.

“When wars and global crises disrupt energy markets, the United States has the ability to act, but President Trump and his administration are refusing to do so. Trump should release oil from the SPR now to stabilize markets, bring prices down, and stop the price shock that American families are already feeling thanks to his reckless war,” he added.

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Source NM – March 4, 2026

Texas energy company seeks federal approval for pipeline through New Mexico to power data center

A Texas energy company has applied to build a 17-mile pipeline in Doña Ana County in order to help power a controversial data center in Southern New Mexico. Several southern New Mexico Democratic lawmakers and environmental groups plan to lodge objections to Houston-headquartered Energy Transfer’s proposal for the $60 million pipeline, which it filed in February with the U.S. Federal Energy Regulatory Commission.

The project would pipe 400,000 dekatherms of gas daily to power plants for Project Jupiter, according to the nearly 900-page application for the $60 million pipeline, dubbed the “Green Chile Project.” As a point of comparison, that amount of gas used daily would power Española for one year, according to Lu Liu, an assistant civil engineering professor at Iowa State University.

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Innovation Map – March 4, 2026

Texas takes the No. 1 spot on new energy resilience report

A new report by mineral group Texas Royalty Brokers ranks Texas as the No. 1 most energy-resilient state. The study focused on four main sources of electricity in hydroelectric dams, natural gas plants, nuclear reactors and petroleum facilities. Each state was given an Energy Resilience Score based on size and diversity of its power infrastructure, energy production and affordability for residents.

Texas earned a score of 71.3 on the report, outpacing much of the rest of the country. Pennsylvania came in at No. 2 with a score of 55.8, followed by New York (49.1) and California (48.4). According to the report, Texas produces 11.7 percent of the country’s total energy, made possible by the state’s 141,000-megawatt power infrastructure—the largest in America.

 

Oil & Gas National & International

 

S&P Global Platts – March 9, 2026

US to remove oil sanctions on some countries until Iran situation ‘straightens out’: Trump

The US will lift sanctions on oil sales by “some countries” until the war with Iran “straightens out,” US President Donald Trump said March 9. “We are also waiving certain oil-related sanctions to reduce prices,” Trump said, speaking at a White House press conference. “We have sanctions on some countries. We’re going to take sanctions off until this straightens out. When the time comes, the US Navy and its partners will escort tankers through the strait if needed.”

The number of ships transiting the Strait of Hormuz has continued to taper since the start of the war against Iran, falling to just four ships on March 8 from 91 seen on Feb. 28, according to S&P Global Commodities at Sea data collected on March 9. When asked to detail the sanctions the US would lift, Trump provided no further details.

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News from the States – March 5, 2026

Top Alaska court takes up lawsuit challenging trans-Alaska gas pipeline law

The Alaska Supreme Court is considering whether to advance a lawsuit that claims the Alaska Constitution conflicts with a state law that directs construction of a trans-Alaska natural gas pipeline. On Wednesday, the court’s justices — minus Chief Justice Susan Carney, who is recovering from surgery — heard oral arguments from plaintiffs who believe any pipeline built under the law would result in so much climate change that it would unconstitutionally degrade hunting and fishing opportunities.

A lower court dismissed the lawsuit in March 2025, but the dismissal was appealed to the Supreme Court.

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Reuters – March 9, 2026

Canadian oil tycoon backs South Bow pipeline to boost US exports*

 The Canadian tycoon who heads one of North America’s fastest growing oil companies told Reuters he supports ​a proposal to potentially revive parts of the former Keystone XL pipeline and wants to see Canada use the project as ‌leverage in upcoming trade negotiations with the United States. Still, Adam Waterous, CEO of Strathcona Resources, said he would prefer a new West Coast pipeline to increase access to Asian markets.

The comments by Waterous, one of Canada’s most aggressive oil industry dealmakers, are the first public statements by a Canadian oil shipper in favour of a new pipeline proposal led by Canadian company ​South Bow (SOBO.TO), opens new tab that could increase the country’s crude exports to the U.S. by more than 12%. They are an early indication that the project — which would require both ​a green light from U.S. President Donald Trump and the construction of additional links to U.S. refining hubs — has at ⁠least some level of commercial support from Canadian oil sands producers at a time when the U.S.-Israel war on Iran has disrupted international supply and sent global ​crude prices soaring.

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The Wall Street Journal – March 6, 2026

The Billionaire Whose Ships Are Braving Missiles in the Strait of Hormuz*

Even in the adrenaline-fueled shipping industry, billionaire George Prokopiou has long been renowned for sailing close to the wind in pursuit of profit. This week, the Greek magnate made one of the boldest plays of his 55-year tanker career: sending at least five ships through the Strait of Hormuz while war flared across the Middle East. They are among the few merchant vessels to have sailed through the waterway since the conflagration trapped thousands of boats and threatened a global energy crisis. Prokopiou’s rivals, many of whom have tankers stuck in the Persian Gulf, are reluctant to dispatch any more for fear their ships or sailors could join the casualty list.

 

Utilities, Electricity & Renewables

 

San Antonio Express-News – March 9, 2026

Inside San Antonio’s AI-driven data center boom and what it means for CPS Energy*

CPS Energy President and CEO Rudy Garza is facing the challenge of his career. The city-owned utility — like other electric providers across the state — is up against an unprecedented surge in demand as data centers and other large load customers flock to the region “We’ve got over 50 projects that could quadruple our resource needs if they all showed up,” Garza said of the Alamo City.

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Associated Press/AOL – March 9, 2026

AI is spurring a big expansion of high-voltage power lines. Landowners and locals are fighting back

In Texas’ Hill Country, the Hill Country Preservation Coalition sprang up against the construction of the southernmost of three 765-kilovolt lines — the highest voltage used in the United States — that Texas regulators commissioned to cross the state in east-west “superhighway” corridors.

The coalition’s founder, Jada Jo Smith, calls it a “Goliath” that will be nearly impossible to defeat. To at least minimize the damage, the coalition is pressing state regulators to adopt a different, slightly longer path that follows existing highway corridors. “Why would you choose a route that would potentially harm our most iconic rivers that we have left in the state of Texas?” Smith said.

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KRHD – March 8, 2026

Caldwell moves to ERCOT electric grid, citing aging infrastructure and reliability concerns

The city of Caldwell is transitioning from the Midcontinent Independent System Operator electric grid to the Electric Reliability Council of Texas grid, citing an aging substation and the need for more reliable service as the city expands.

The transition is scheduled to begin March 12, and city officials warn that service disruptions are possible but should not last longer than an hour. Caldwell’s existing substation is 57 years old and serves more than 2,000 retail electric meters, primarily within the city’s municipal boundaries in Burleson County. The substation’s transformer is 35 years old and has experienced performance issues, including at least one failure related to its load tap changer. City officials say the substation would require extensive and expensive upgrades to remain in service.

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KXXV – March 9, 2026

Wind farm in Mart begins turbine replacement, ENGIE responds to neighbors concerns

A wind farm in Mart is entering a new chapter. Prairie Hill Wind Farm has begun a six-month demolition process that will remove 100 existing turbines and replace them with 63 new, more efficient models. The project is privately funded, meaning it will not be paid for by taxpayers or ratepayers, according to ENGIE, the company behind the project.

For some residents, the wind farm has already made a tangible difference. “I don’t mind it because I’ve noticed that the cost of energy in this area has reduced since the turbines were put in… my bill dropped by like $200,” a local Mart resident said.

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Texas Tribune – March 9, 2026

Questions about self-driving cars amplify after one blocked an ambulance responding to Austin shooting

A viral image from the March 1 shooting in downtown Austin — an autonomous vehicle blocking an ambulance from reaching the scene where a gunman fatally wounded three people and injured 15 others — has put a spotlight on driverless cars as they hit the streets in more major Texas cities.

A video widely circulated on social media shows a Waymo vehicle blocking the street as paramedics try to reach the scene of the shooting at Buford’s, in the city’s nightlife district on West 6th Street, forcing the ambulance driver to seek another route. “This is why we should not have self-driving cars,” an onlooker says in the video.

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KBTX – March 6, 2026

Battery storage fire safety: How a 2019 explosion near Phoenix led to changes in the industry

attery energy storage system facilities are expanding across the Phoenix Valley, but fires at those sites have raised safety concerns for nearby residents and first responders. The Environmental Protection Agency says battery fires can burn for hours and release harmful gases that pose health risks. The EPA also says a response plan is critical when managing one of these sites.

Lithium-ion batteries store large amounts of electricity that can become unstable. They have caused fires in golf carts, garages, cars, airplanes and buildings. Phoenix Fire Captain Michael Duffy warned the Phoenix City Council in July about the dangers posed by lithium-ion batteries and the facilities that house them

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Clean Technica – February 26, 2026

Despite Political Rhetoric, Conservative Support for Solar Is Solidifying. Here’s Why: Solar Energy Industries Association

A recent poll from Fabrizio, Lee & Associates, chief pollster for President Trump, found that a clear majority of Republicans support expanding solar power in the United States. In the survey, 68% of GOP voters agreed that “we need all forms of electricity generation, including utility solar, to be built to lower electricity costs,” while 70% said they support utility-scale solar deployment when projects use American-made materials. Another poll from Kellyanne Conway’s KA Consulting showed that three-quarters of Trump voters (75%) in Arizona, Florida, Indiana, Ohio, and Texas believe that solar energy should be used in the U.S. to strengthen and increase our energy supply.

Conservative voters are drawing a clear distinction between rhetoric and practical solutions that lower costs. As the Fabrizio memo notes, the idea that solar is inherently at odds with right-leaning voters is not borne out by the data.

 

Regulatory

 

JD Supra – February 26, 2026

Staying With the Current: Key Texas Water Decisions in 2025: Haynes Boone

In 2025, the Texas Supreme Court issued several decisions with meaningful implications for Texas water law. The decisions provide guidance on ownership of produced water, agency discretion during wastewater permitting and appellate jurisdiction for river authorities. The decisions are particularly relevant for oil and gas operators, water utilities, developers, industrial and manufacturing facilities, landowners, agricultural producers and other entities navigating Texas water law.

Produced Water — In Cactus Water Services, LLC v. COG Operating, LLC,¹ the Court addressed ownership of produced water that was generated incidental to oil and gas production. The Court held that a mineral lease granting the right to produce oil and gas also conveys the produced water necessarily generated by those operations unless there is an express reservation in the conveyance document.

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Texas Energy Report NewsClips

Monday March 9, 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

Stock futures were plunging to start the week’s trading as U.S. oil prices neared $120 a barrel amid the U.S.-Iran conflict, raising fears higher energy prices could dramatically slow the U.S. economy. Futures tied to the Dow fell 1,026 points, or 2.33%. S&P futures lost 2.05% by midnight Sunday and Nasdaq 100 futures dropped 2.34%

Oil prices surged about 20% on Monday, hitting their highest since July 2022, as the expanding U.S.-Israeli war with Iran ‌led some major Middle Eastern oil producers to cut supplies and on fears of prolonged disruption to shipping through the Strait of Hormuz chokepoint.

Brent crude and WTI moved up at the Sunday evening US Daylight Time Asian opening, relatively in tendem, to about $119 a barrel.

Agriculture markets, led by edible oils, rose as they took their cue from oil prices due to the extensive use ​of vegetable oils in making biofuels. Aluminium firmed on supply worries even as other metals faced headwinds from ​a stronger dollar.

Brent was on track for its biggest one-day gain ever in both percentage and ​absolute terms as the expanding U.S.-Israeli war with Iran led some major Middle Eastern oil producers to cut supplies and ​on fears of prolonged disruption to shipping through the Strait of Hormuz chokepoint.

Analysts predict the United Arab Emirates and Saudi Arabia will have to also cut output ​soon as they run out of oil storage.

The war could leave consumers and businesses worldwide facing weeks or months of higher fuel prices even ​if the week-old conflict ends quickly, as suppliers grapple with damaged facilities, disrupted logistics and elevated risks to shipping.

 

Top Stories

 

The Wall Street Journal – March 8, 2026

The Long-Feared Persian Gulf Oil Squeeze Is Upon Us*

The chairman of oil producer DNO was flying from New York to Oslo early on Feb. 28 when he told staff to turn off the company’s oil wells in Iraq. America and Israel had just attacked neighboring Iran. Bijan Mossavar-Rahmani wasn’t taking any chances, having weathered a drone strike on the company’s oil fields in Iraqi Kurdistan last summer. By the time he landed, the pumps had stopped—the first oil shutdown of the war. To the south, another problem was brewing. An apparent recording of an Iranian naval captain telling ships not to enter the Strait of Hormuz spread through industry WhatsApp groups.

 

Associated Press – March 8, 2026

Oil prices are soaring, but Trump is downplaying the need to tap the Strategic Petroleum Reserve

Oil prices have soared in the week since the U.S. and Israel launched their war against Iran, but President Donald Trump on Saturday downplayed the idea of turning to America’s Strategic Petroleum Reserve to ease the pressure. Trump was asked by reporters on Air Force One about whether he would consider tapping the reserve. As the war continues to escalate across the Middle East, including in areas critical to the production and movement of oil and gas, that’s strained the energy sector globally. In the U.S., consumers are already facing higher gas prices, a key cost of living.

“We’ve got a lot of oil. Our country has a tremendous amount,” Trump said. “There’s a lot of oil out there. That’ll get healed very quickly.” Trump’s Republican Party is under pressure over the issue of affordability ahead of November midterm elections. Tapping the reserve is among the few things a president can do on his own to try to make an impact on oil prices.

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Dallas Morning News – March 6, 2026

Airlines in bear market as oil poses ‘existential’ threat*

US airline stocks slipped into a bear market as Wall Street warns that the war in the Middle East threatens to dramatically squeeze profits by driving up fuel costs. The S&P Supercomposite Airlines Industry Index closed down 4.1% on Friday afternoon, extending a skid into a sixth day. The group is down over 22% from a multi-year high marked just last month. A decline of 20% or more from a peak is defined as a bear market.

The price jump represents an “existential threat” for carriers, Deutsche Bank warned on Friday. The industry suffered serious damage when fuel prices surged in 2005, prompting Delta Air Lines Inc. and Northwest Airlines to file for bankruptcy, the firm noted. “Absent near-term relief, airlines around the world could be forced to ground” thousands of aircraft as a result of the Iran war, analyst Michael Linenberg wrote in a note. “Some of the industry’s financially weakest carriers could halt operations.”

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Politico – March 6, 2026

How Georgia’s power bills are sparking the midterms

Democrats pulled off the kind of election feat in Georgia last year that would make any political strategist salivate — leveraging voter frustration with high power bills to unseat two Republicans by record margins. For the first time in more than 20 years, the special election for Georgia’s Public Service Commission installed two Democrats on the little-known panel that approves electricity rates. The commission race ultimately flipped 22 counties that President Donald Trump had carried just the year before.

Now green groups are looking to replicate Georgia’s playbook in other states, as sky-high power bills shine a national spotlight on these typically low-profile regulatory boards, as I write in a story today. National electricity rates continue to rise, outpacing wages and inflation, federal data shows — swiftly becoming a flash point ahead of the midterm elections.

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Politico – March 6, 2026

Solar group takes revenge on Chip Roy over tax credits*

Texas Republican Rep. Chip Roy made it his mission last year to kill renewable energy tax incentives. In response, a political action committee backed by solar energy executives decided to try to do the same to Roy’s campaign for Texas attorney general. This week, the Invest in Tomorrow Coalition PAC notched a partial victory. On Tuesday, Roy was forced into a GOP runoff with Mayes Middleton, who topped a four-way primary with 39.1 percent to Roy’s second place at 31.6 percent.

The fledgling PAC, established just last month, spent more than $650,000 opposing Roy in the race, campaign finance records show. Each candidate had millions in their warchest. The group targeted conservative voters on platforms like Rumble and Truth Social, with messaging saying Roy is “not MAGA enough for Texas.” The far-right congressman has drawn the ire of President Donald Trump for demanding concessions before voting with party leaders.

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Argus Media – March 6, 2026

US weighs military powers to restart oil pipeline

President Donald Trump’s administration is considering invoking a 1950 war mobilization law to override legal impediments to restarting a pipeline that would transport oil being produced offshore California. The Trump administration since last year has pushed to restart a network of pipelines that would allow US independent Sable Offshore to start selling crude it is producing from offshore platforms off the coast of southern California.

Federal regulators in December asserted to have control over the pipelines, but a state judge last month halted the restart of the pipeline, citing a consent decree that had resolved a state lawsuit over a massive spill from the pipeline in 2015. The administration is now considering an alternative to restarting the shuttered oil pipeline by using the Defense Production Act of 1950. Under a legal opinion the US Department of Justice published on 3 March, the administration asserted the ability to use the Korean War-era law to preempt both state law and the consent decree.

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Inside Climate News – March 8, 2026

After a Decade of Missteps, a Texas City Careens Toward a Water-Shortage Catastrophe

The imminent depletion of water supplies in Corpus Christi threatens to cut off the flow of jet fuel to Texas airports and other oil exports from one of the nation’s largest petroleum ports, triggering potential shockwaves through energy markets in Texas and beyond. Without significant rainfall, Corpus Christi is headed for a “water emergency” within months and total depletion of the system next year, according to the city’s website.

“The impacts are going to be felt tremendously through the state, if not internationally,” said Sean Strawbridge, former CEO of the Port of Corpus Christi Authority, the nation’s top port for crude oil exports, in a 40-minute interview Thursday. “This should be no surprise to anybody. We were talking about this over a decade ago.”

 

The Latest TERse Tips

Oil Prices Are Barreling Toward All-Time Highs — The Wall Street Journal*

A record number of Texans are leaving Congress, further diminishing the state’s clout on Capitol Hill — Houston Chronicle*

AEP has named Adrian Rodriguez president and chief operating officer of AEP Texas — see the press release

Huge flames in Tehran after Israeli strikes on oil refineries — witnesses in Tehran captured the aftermath of oil depots being hit by airstrikes as flames and smoke engulfed the surrounding cityscape — the Israel Defense Forces said it struck “several fuel storage complexes” in Iran’s capital, which the country’s National Iranian Oil Company later confirmed — “It was as if the night had turned into day,” one resident told the BBC.

Venezuela this month resumed exports of a key ​crude grade that had not been shipped since late ‌2024, diluted crude oil (DCO), with U.S. Chevron sending a 500,000-barrel cargo to the U.S. Gulf Coast, a document from state energy company PDVSA seen on ​Friday showed — Reuters*

An overnight storm brought damage and fallen trees to East Texas on Saturday and electric company crews are working to restore power to customers — the Upshur Rural Electric Cooperative Corporation shared pictures of fallen trees and damaged power lines in the Hall area on social media — KETK

 

Oil & Gas Texas

 

Oil Price – March 6, 2026

US Drillers Add Oil Rigs as WTI Jumps 14%

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 551 this week, down 41 from this same time last year. The number of active oil rigs rose by 4 to 411 during the latest reporting period, according to the data. This is 75 below this same time last year. The number of gas sunk by 2, reaching 132, which is 31 more than this time last year. The miscellaneous rig count stayed the same at 8.

The latest EIA data showed that weekly U.S. crude oil production fell this week, by 6,000 bpd in the week ending February 27, to 13.696 million bpd on average, 166,000 bpd under the all-time high. Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, rose again during the week ending February 27 by 7 after gaining 7 crews in the week prior.

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Politico – March 5, 2026

BLM to help oil industry find new uses for wastewater*

The Bureau of Land Management is instructing employees in the field to help companies find uses for oil field wastewater, such as for agriculture, beyond injecting it underground permanently. The new BLM policy is the latest step in a debate about what to do with the billions of gallons of wastewater produced every year. Decades of deep injection have resulted in earthquakes, geyser-like well blowouts and ground swelling. Some water managers in Texas worry that if the practice continues at the current rate, groundwater resources could get contaminated.

The move comes as the Trump administration’s EPA is also working on a regulation to make it easier for companies to treat and reuse the water. The wastewater, often referred to as “produced water,” “salt water” or “brine,” comes up with oil and gas at well sites. The byproduct is many times saltier than seawater, often has chemicals added during drilling and fracking and can be radioactive.

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Midland Reporter-Telegram – March 6, 2026

TIPRO: Energy output hit records in challenging 2025*

Despite a year of unique challenges, the nation’s oil and gas industry made significant economic contributions in 2025. The Texas Independent Producers and Royalty Owners Association (TIPRO) has released the 11th edition of its State of Energy Report, finding U.S. crude oil production averaged a record 13.6 million barrels per day in 2025. Further, U.S. natural gas production in 2025 averaged a record 107.7 billion cubic feet per day.

KXAN – March 6, 2026

Dallas oil CEO says gas prices could hit ‘$5 or $6’ per gallon due to US, Israeli war with Iran

The American and Israel’s war with Iran will likely hit Texans’ wallets soon. The conflict, which began with missile strikes from Israel and the U.S. on March 1, triggered an indefinite pause on commercial shipping through the Strait of Hormuz. This includes oil tankers from countries in the Persian Gulf.

According to Jay Young, founder and CEO of the Dallas-area King Operating Corporation, said that roughly a fifth of all produced oil moves through the strait. When that flow paused, oil prices shot up by approximately 30%. Oil prices have risen steadily since the initial attacks on Iran. On Feb. 27, the price per barrel was around $67; it is now over $90 as of Friday afternoon and continuing to climb. Young said he could see it reaching over $100. “It’s good for oil and gas companies… good for revenue for the Texas Rail Commission,” he said. “It creates a lot of jobs, a tremendous amount of jobs… so this is good for a lot of people.”

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Midland Reporter-Telegram – March 7, 2026

Brazos Midstream expands Midland Basin operations*

Brazos Midstream is continuing to expand the Midland Basin operations it began in 2021. The company has commissioned Sundance II, a 300 million cubic feet per day cryogenic natural gas processing facility in Martin County and the largest cryogenic plant constructed by the company to date. It combines with Sundance I, a 200 Mmcf per day facility that entered service in mid-2024.

Oil & Gas National & International

 

The Wall Street Journal – March 8, 2026

Why the Oil Shock Probably Won’t Derail the Economy. And One Way It Might.*

It was an ugly week for the economy. Oil prices surged 39%, all but guaranteeing inflation is about to lurch higher. And it came amid emerging signs of jobs weakness, as payrolls fell and unemployment rose in February. Those with long memories smell stagflation—a troubling mix of stagnant growth and stubborn inflation—or worse, recession. Higher oil prices helped sink the economy in 1973, 1980, 1990 and 2008. Odds are neither stagflation nor recession will happen. The economy has grown more resilient to oil shocks, and a productivity renaissance is under way, helped by artificial intelligence. Both should help sustain growth and cushion cost pressures.

Oil alone has never caused a recession; it usually requires some other vulnerability. The 2022 spike didn’t hurt, in part, because the U.S. was adding over 300,000 jobs a month. The labor market looks fragile now, with payrolls surprisingly dropping 92,000 in February from January, and unemployment ticking up to 4.4%.

This, though, doesn’t look like a prelude to a recession. Employment growth has been sluggish for a year, due less to weaker demand for workers than a shrunken supply as immigration dries up. In spite of that, the economy grew a respectable 2.2% last year. The reason: output per hour worked, i.e. productivity, rose 2.8%. That’s roughly double its prepandemic pace, and a sign the economy is becoming much more efficient. AI probably played only a minor role. But as its deployment spreads, it could sustain productivity and thus growth above 2%, even with little or no job growth this year.

What could go wrong? Prolonged closure of the Strait of Hormuz could send oil prices much higher than the market anticipates. Robert McNally, a former energy adviser to President George W. Bush, estimates it will take four weeks for oil flows to fully resume. He considers that an optimistic scenario with no successful Iranian strikes on shipping, yet he still sees that pushing oil well over $100 a barrel. The energy minister of Qatar said it could reach $150.

Inflation, stubborn for longer Oil has often been a culprit in past recessions by prompting the Federal Reserve to raise interest rates (or refrain from cutting them) to get inflation down again. Until this past week, inflation seemed to be declining gently toward the Fed’s 2% target. Now, inflation-linked financial derivatives imply inflation—2.4% in January—will be 2.9% in the coming 12 months, according to Barclays. The derivatives also imply inflation will fall briskly thereafter, to 2.44% in the following 12 months. “The market thinks that any inflation impulse will be pretty quickly felt, and not lead to a sustained resurgence in inflation,” said Jonathan Hill of Barclays.

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S&P Global Platts – March 6, 2026

Marine insurers seek solutions as Gulf shipping threats evolve

Marine insurers are exploring new ways to revive seaborne trades in the Persian Gulf as threats shift from the weapons of past tanker wars to drones and modern missiles even as US offers to backstop war-risk insurance meets a cautious response. More than 10 ships have been targeted in the Strait of Hormuz and surrounding waters since the US-Iran war broke out Feb. 28, leading to crew casualties and ship damage, and international shipping organizations have called on shipping companies to avoid the conflict zones if possible.

“This situation is unprecedented. There is perhaps a tendency in some quarters to view this as a rerun of 1980s tanker wars, but that scenario was fundamentally different,” Munro Anderson, director of strategy and operations at marine war risk insurance specialist Vessel Protect, part of Pen Underwriting, told Platts, part of S&P Global Energy, March 6.

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CNBC – March 8, 2026

Kuwait cuts oil production as Strait of Hormuz closure disrupts global energy market

Kuwait said Saturday that it has cut oil production and refining output because tankers cannot transit the Persian Gulf due to threats from Iran. The Arab monarchy did not say how many barrels per day it has cut, but described the output reduction as a precautionary measure that will be “reviewed as the situation develops.” Kuwait is the fifth-largest oil producer in OPEC. It produced about 2.6 million barrels per day in January.

The state-owned Kuwait Petroleum Corporation said it “remains fully prepared to restore production levels once conditions allow.” Oil prices surged about 35% this week as the Iran war triggered a major disruption of global energy supplies. Tankers have stopped transiting the critical Strait of Hormuz because ship owners fear their vessels will be attacked by Iran.

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CNBC – March 8, 2026

Energy Secretary Chris Wright said oil and gas prices will begin to fall when the U.S. begins to knock out Iran’s ability to hinder tanker traffic through the Strait of Hormuz, as Americans weather spiking gas prices due to the war in Iran. “The plan is to get oil and natural gas and fertilizer and all the products from the Gulf flowing through the straits before too long,” Wright said on Fox News Sunday. “We’re massively attriting their ability to strike with missiles and drones, and that rate of attrition will increase in the coming days. So we’ll be cautious, we’ll be careful, but energy will flow soon.”

President Donald Trump was elected to a second term in the White House in part by promising to lower gas prices and defeat high inflation. He has frequently touted lower gas prices ahead of the November midterm elections, which will determine control of Congress for the remainder of his term.

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Reuters – March 6, 2026

Oil derivatives signal traders see Middle East shock as short-lived*

Oil options and futures are signalling that the latest Middle East conflict may be short‑lived, as traders pile into structures that profit from a retreat in prices after the initial spike. Options and futures markets often provide the earliest signal of whether traders see ​a supply shock as fleeting or structural, creating opportunities to profit from sharp swings in prices.

The Israel‑U.S. attack on Iran has ‌sent shockwaves through energy markets as war‑risk insurance costs surge, freight rates hit record levels and disruptions at the Strait of Hormuz snarl oil flows and strand hundreds of vessels. Oil prices , on Friday were at multi-year highs. In a sign traders see the price shock as temporary, 30-day at-the-money Brent implied volatility jumped 17.5 points to 68% over the past ​week through Tuesday, while 60- and 90-day tenors rose only 5.9 and 2.8 percentage points, LSEG data shows.

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Bloomberg – March 5, 2026

The Iran War’s Most Precious Commodity Isn’t Oil: Javier Blas*

The CIA calls it the “strategic commodity” of the Middle East. But it’s not referring to oil or natural gas. What the American spy agency has in mind is far more prosaic: drinking water. Don’t underestimate it, though, because if military hostilities continue to escalate, water could become the geopolitical commodity that decides the war between the US and Iran. The Persian Gulf is gifted with a fabulous hydrocarbon endowment, worth trillions of dollars. What its desertic countries don’t have is water. From the 1970s onward, the oil money bought a solution: desalination plants. Today, the region relies on nearly 450 facilities to stop everyone going thirsty.

The US Central Intelligence Agency has been briefing American policymakers for decades on the inherent risk of relying on those plants for such a crucial supply. In a secret assessment in the early 1980s — since declassified — the CIA said: “Senior government officials in some of the countries perceive it [water] as more important than oil to the national well-being.” More than four decades later, not much has changed. Desalination remains a relatively cost-effective technology to transform sea water into drinking water. The downside is the vulnerability of the installations, and the oil and gas consumption required to fire the power generators that run the plants.

About 100 million people live in the countries belonging to the Gulf Cooperation Council — Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman — all now under Iranian attack. Kuwait, Qatar and the UAE are, for all practical purposes, completely dependent on the desalination plants, particularly for metropolises such as Dubai. Saudi Arabia, and especially its capital, Riyadh, also relies heavily on them.

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Reuters – March 6, 2026

Asia has limited options to diversify from Mideast energy reliance*

Asian energy buyers are scrambling to find alternatives as the Iran war creates unprecedented supply disruption, but the region has limited longer-term options to reduce its heavy reliance on Middle Eastern oil. The world’s top crude importing ​region buys 60% of its oil and petrochemical feedstock from the Middle East, where the war that started with Israeli and U.S. attacks on Iran nearly a week ‌ago has pushed up global energy prices and threatens to drive inflation and hurt economic growth.

Unable to receive Middle Eastern crude, refiners from China to Southeast Asia are looking for expensive alternatives that will take weeks or months to arrive, while some are cutting output. This week, China and Thailand suspended exports of oil products while Vietnam halted crude exports, which typically go to Australia. However, alternative sources have drawbacks including distance, refinery configurations, long-term contracts and cost.

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Oil Price – March 6, 2026

How Quickly Can Qatar Restart the World’s Largest LNG Export Hub?

QatarEnergy declared force majeure on liquefied natural gas (LNG) exports on Wednesday, following disruptions at its Ras Laffan industrial city facilities caused by the Middle East conflict.  This legal declaration effectively releases the state-owned company from contractual delivery obligations due to extraordinary circumstances beyond its control. The shutdown was triggered by a near-complete halt of shipping in the Strait of Hormuz due to the U.S.-Israeli conflict with Iran. Qatar accounts for 20% of global LNG exports, primarily serving Asian markets including China, Japan, India and South Korea as well as Europe.

Unfortunately for gas customers, it could take months before the giant LNG plant returns to normal production. U.S. President Donald Trump initially projected that Operation Epic Fury would last only four to five weeks, but later announced that the U.S. has the capability to go “far longer”. His ally in the war, Israeli Prime Minister Benjamin Netanyahu, has described the campaign as “quick and decisive action” that may “take some time” but will not last for years.

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Associated Press – March 8, 2026

Oil built the Persian Gulf. Desalinated water keeps it alive. War could threaten both.

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CNN – March 5, 2026

Trump keeps trying to auction off this US property for oil drilling. No one is buying.

A federal deadline came and went this week for oil companies to bid on around 1 million acres of drilling territory off Alaska’s Cook Inlet. No one did. “At this time, no bids have been received,” the Bureau of Ocean Energy Management said in a statement on its website. Alaska’s Cook Inlet was once a major basin for oil and gas, but its reserves have been declining for decades. As its energy resources are depleted, it has also gotten increasingly expensive for companies to drill there.

As a result, the number of companies who want to develop energy there is scant. On Wednesday, for example, the state of Alaska also posted dismal results of a separate auction it runs in the area. Of the close to 3 million of acres of waters the state offered up for oil and gas drilling, just one company submitted a $600 bid for a 20-acre parcel.

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The Wall Street Journal – March 6, 2026

BP Asks Shareholders to Vote Against Call for More Disclosures*

BP has called on shareholders to vote against a resolution that would require it to publish more detailed disclosures on how it takes investment decisions. The resolution, filed last month by a group of investors, calls on the British energy major to disclose how it assesses cost-competitiveness for each project and how it accounts for cost-overruns. BP should explain how investment in exploration creates value for shareholders, the resolution said. The company said Friday that the resolution is duplicative of disclosures that BP already makes and doesn’t reflect its existing capital discipline or operational improvement.

 

Utilities, Electricity & Renewables

 

E&E News By Politico – March 6, 2026

Texas grid plan sets up data center scramble*

Texas’ grid operator unveiled proposed requirements this week for data centers seeking to plug into the state’s main electric grid, setting up a rush among developers. Data center companies will be scrambling this year to be part of the first group to receive possible interconnection agreements in the sprawling region managed by the Electric Reliability Council of Texas. Sites that aren’t part of that first group — which ERCOT calls Batch Zero — may need to wait years to receive approvals to connect to the grid as Texas works to build out more transmission lines to accommodate data center demand. Projects that aren’t selected for Batch Zero could end up abandoning the state, according to some Texas electricity experts.

“We’re not really sure what exists after Batch Zero,” said Arushi Sharma Frank, an executive adviser with Nvidia-backed Emerald AI, during a conference Thursday in Dallas. “Who is in Batch One that will still want to start or finish the project in Texas? And why wouldn’t you go somewhere else where you already have similar, very expensive options to go and build your next site?”

 

Brownwood News – March 6, 2026

Spiller Requests More Time For Electrical Line Project

State Representative David Spiller has requested more time for the selection of the route of a proposed electrical power line that would run through the District 68 that he represents in the Texas Legislature. Oncor Power has proposed a 765-kiloVolt power line that would run from near Glen Rose to near Big Spring, a distance of about 250 miles.  The power line is known as the Dinosaur-Longshore Transmission Line Project. Several different routes are being considered.  Two of the routes would run through Brown County.

Proposed routes would also run through Comanche and Eastland Counties.  The route selected will require easement rights from the landowners. Once Oncor chooses a route, it must be submitted for approval to the Public Utility Commission of Texas.  At that time, affected landowners would be notified and would have 30-days to comment.

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PV Tech – March 6, 2026

Zelestra begins construction on 441MWdc solar portfolio in Texas

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Hoptown Chronicle – March 6, 2026

US farmers skew Republican, but many draw the line at data centers that hog land and energy

AI supporters, such as President Donald Trump, have run into a roadblock that may be hard to circumvent: American farmers in deep-red states are actively opposing data center projects in their communities. “The tech industry’s relentless push for data centers is colliding with farmers who see the projects as a threat to their way of life, fueling unrest in Republican primaries and vocal criticism from conservative candidates,” reports Rachel Shin of Politico.

Texas Agriculture Commissioner Sid Miller, who is running for reelection, doesn’t see any benefit to farmers from unregulated data center builds. He told Shin, “There’s no guardrails of any kind. … So they can pop up wherever they want to, as often as they want to, and take up as much land as they want to.”

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ESG Dive – March 6 2026

Vanguard’s antitrust coal settlement and what it signals for ESG litigation

Last week, Vanguard settled a lawsuit brought forward by Texas and 10 other Republican-led states that alleged the asset manager colluded with industry peers BlackRock and State Street to artificially constrict coal prices. The three asset managers initially filed a joint motion to dismiss the state-level charges, but that was denied in August. Vanguard became the first of the three largest U.S. asset managers to settle the legislation when Texas Attorney General Ken Paxton announced the firm would pay the 11 suing states a total of $29.5 million. …

Ben Steinberg, an antitrust litigator for law firm Shinder Cantor Lerner, called Vanguard’s settlement “a significant development in the broader battle over ESG litigation, but it’s one that is hard to interpret,” in an interview with ESG Dive. Prior to the failed dismissal, Steinberg wrote in April 2025 that the legal antitrust theory Republicans are pursuing is novel in how it’s being used to combat climate progress.

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Utility Dive – March 6, 2026

Reliability risk isn’t just about capacity anymore: Tapas Peshin

The North American Electric Reliability Corp.’s latest Long‑Term Reliability Assessment makes one point clear: the North American grid is moving deeper into an era of structural reliability risk. Demand is growing faster than firm resources and transmission. Retirements are outpacing additions of dispatchable capacity. And the system is becoming more dependent on inverter‑based and weather‑dependent resources. Out of the 23 assessment areas in the report, 13 now face elevated or high reliability risk in the coming decade.

Those numbers matter, of course. But they also hide something else emerging beneath the surface: The most acute reliability risks today come not from a shortage of installed megawatts, but from the widening gap between how we model reliability and how the grid actually performs under operational stress.

 

Regulatory

 

Oil Price – March 6, 2026

What Carter and Reagan Got Right About Oil Shocks

The conflict in Iran is unlikely to lead to 1970s-style oil rationing, but policymakers must use price mechanisms and encourage domestic energy investment to insure against unpredictable escalations, says Andy Mayer In 1979 the Iranian Revolution sparked the ‘second oil crisis’ as the price of crude oil more than doubled to $40 per barrel. Although global production only fell four per cent, then seven per cent during the following year’s Iran-Iraq war, it took time for policy and global supply chains to adjust. The price shock lasted until the mid-1980s.

Jimmy Carter, then US President put symbolic solar panels on the roof of the White House, which were later removed. But more importantly, began phasing out Nixon’s price controls from the first (1973) oil crisis, which allowed consumers and producers to respond dynamically to higher prices with rationing and investment in new resources.

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Texas Energy Report NewsClips

Friday March 6, 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

Oil prices fell ​on Friday for the first time in six days as the U.S. government is weighing potentially ‌intervening in the futures market to blunt rising prices and issued waivers for Russian oil purchases to ease supply constraints from the Middle East war.

West Texas Intermediate was down $1.08, or 1.3%, ​to $79.93 as of 0440 GMT.

Brent crude futures were down 95 cents, or 1.1%, to $84.46 per barrel.

Still, Brent has surged 16.4% this week while the WTI jumped 19.2% on ​track for the steepest weekly gain since Russia launched its full-scale invasion of Ukraine in ⁠February 2022.

The gains followed the start on February 28 of the war between the U.S. and Israel, on one side, and Iran that has halted tankers ​moving through the Strait of Hormuz, which typically carries roughly one-fifth of the world’s daily oil supply.

“With every passing day, halted activities in Hormuz will have two major impacts on oil: the inability to store 20 million barrels per day and the ​lack of flow to the world, which could drive global energy prices higher,” said Priyanka Sachdeva, senior market analyst ​at Phillip Nova.

 

Top Stories

 

The Hill – March 5, 2026

Treasury Department to announce measures to combat rising oil prices amid Iran conflict: Report

The Treasury Department will announce measures to combat rising energy prices amid the U.S.-Israeli strikes against Iran as soon as Thursday, Reuters reported.  As the conflict in the Middle East nears the one-week mark, oil prices have risen and consumers are seeing an impact at the pump. Iran closed the Strait of Hormuz in response to the strikes, choking off a crucial shipping lane.

The Hill has reached out to the White House and Treasury Department for comment.  The per-barrel price of West Texas Intermediate crude oil, the benchmark for the U.S., is more than $79.70 as of Thursday afternoon. That is an increase of more than 25 percent relative to a month ago.  The average price for a gallon of regular gas increased to $3.25 Thursday, up from $2.98 a week ago and $2.89 a month ago, according to AAA. One year ago Thursday, the average price of gas was nearly $3.11.

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Politico – March 4, 2026

Susie Wiles sounds the alarm on gas prices

President Donald Trump’s chief of staff, Susie Wiles, is telling his advisers to bring ideas to the Oval Office to lower gasoline prices in the wake of the U.S. attack on Iran, according to two energy industry executives familiar with the conversations. The White House is “looking under every rock for ideas on improving energy prices, especially gasoline prices,” said one of the executives, who was granted anonymity to describe internal administration discussions.

New York Post – March 5, 2026

Chevron warns of economic collapse in California under Gavin Newsom in doomsday letter

California will face economic collapse under Gov. Gavin Newsom’s “misguided” climate policy — with crippling job losses and sky-high gas prices, Chevron warned in a doomsday letter to the lefty governor on Wednesday. The oil giant’s bleak outlook in the letter to Newsom and the California Air Resources Board (CARB) came amid calls to block proposed amendments to the Cap-and-Invest program, which places a strict limit on greenhouse emissions that decreases each year.

Chevron argues that the carbon-cutting program will “cripple the survivability” of the state’s remaining refineries, with devastating effects on the Golden State and its residents. “The proposed regulation will cripple the survivability of the state’s remaining refineries, which will result in California losing the entire industry to this misguided program,” read the letter from Chevron President Andy Walz, obtained by the California Globe.

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The Atlantic – March 5, 2026

Tesla’s Secret Weapon Is a Giant Metal Box*

Elon Musk’s vision for the future of Tesla has finally rolled off the assembly line. Last month, a Tesla factory in Texas built the first Cybercab, a driverless electric car with neither a steering wheel nor pedals. With typical bombast, Musk has promised that the Cybercab will cost less than $30,000 by next year, and said that it could perhaps even pay for itself: Owners will conceivably be able to nap at home while the car is out hailing riders and earning them money.

The Cybercab is among the splashiest parts of Tesla’s pivot away from its core business of selling cars (or at least those driven by humans). Musk is dead set on turning Tesla into a company that makes robots and robotaxis. Earlier this year, he killed the Model S—the vehicle that initially made Tesla into an electric-car giant—freeing up factory space to manufacture Optimus, a humanoid robot he says has the potential to be the “biggest product of all time.” The world’s richest man has a lot riding on the success of Tesla’s robots and robotaxis, namely a pay package worth up to $1 trillion.

So far, the transformation has been chaotic. For all the hype surrounding the Cybercab, it’s not clear that Tesla can legally sell a car without a steering wheel. The technology also remains unproven: Tesla operates a fleet of robotaxis in Austin, where they have crashed at roughly eight times the rate of American drivers, according to an analysis of Tesla’s self-reported crash data. Musk has even further to go with his Optimus robots. The program has been dogged by public embarrassments and failures: At a Tesla event in December, an Optimus robot tasked with handing out water to guests lost its balance and dramatically tumbled backwards. Meanwhile, Tesla’s car sales are tumbling as Musk has seemingly lost interest in making human-driven cars. Besides the Cybertruck, which has proved to be a flop, Tesla has not released an entirely new car model since 2020. (Tesla and Musk did not respond to my requests for comment.)

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The Latest TERse Tips

China might assess that its military overmatch around Taiwan is such that the US can’t amass enough force to forestall or respond to a Chinese assault without suffering heavy losses — Asian Times

APA Corporation (Nasdaq: APA) today announced the dual listing of its common stock on Nasdaq Texas —see the press release

Nasdaq Texas, announced in November, is debuting approval from the U.S. Securities and Exchange Commission and its first cohort of expected dual listings Thursday — Dallas Morning News*

The Pedernales Electric Cooperative recently changed its base power rates, amongst other alterations, to reflect increasing market prices, effective March 1st — Highland Lakes Daily Tribune

Fitch Ratings has published the ‘BBB-‘ rating for Xcel Energy Inc.’s issuance of $900 million 6.25% junior subordinated notes due Oct. 15, 2085 — Fitch

Riley Exploration Permian, Inc. on Thursday reported financial and operating results for the fourth quarter and year ended December 31, 2025 — see the press release

A power outage struck most of Cuba, ‌including Havana, the state electric utility said on Wednesday, as the Communist-run government grapples with increased pressure from the Trump administration that has curtailed oil shipments — Reuters*

Evers & Sons Wins Texas Compressor Station Expansion Adding Six Units — Pipeline & Gas Journal

How did a West Texas oilman make Team USA’s Olympic bobsled team? — ESPN

 

Oil & Gas Texas

 

Houston Chronicle – March 5, 2026

Texas spent $7M to plug a toxic well. Now it’s demanding a Houston company foot the bill.*

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Houston Chronicle – March 5, 2026

Texas school district rejects tax deal for $6B LNG terminal project*

The Point Isabel Independent School District rejected a multi-million dollar tax break for a proposed $5.7 billion liquefied natural gas project on the Gulf Coast, finding the facility would not “align” with the community’s values or finances. School districts in Texas have typically granted such agreements, which are meant to incentivize investment with reduced property taxes in exchange for promises of economic development. But the district’s board of trustees in Port Isabel, a town with 5,200 people tucked between nature preserves at the mouth of the Rio Grande, have rejected three similar proposals from LNG developers planning large industrial complexes in the area, including a previous application from the 625-acre Texas LNG project.

“We are at a loss at how school board leadership could have made such a decision,” Tim Fitzpatrick, a spokesperson for the Texas LNG project said after the vote Monday. “There is no economically rational benefit for this vote, which should be about how to benefit students.” He said the agreement “would have delivered an additional $15 million per year to the Point Isabel ISD.” In an announcement last month, project developer Glenfare Group said it planned to finalize financing and begin construction this year on its tract of coastal wetlands along the Brownsville Ship Channel, adjacent to the 980-acre site of Rio Grande LNG, where crews began clearing land in 2023.

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Shreveport Bossier City Advocate – March 5, 2026

Magnitude 4.9 earthquake felt in south Shreveport, the strongest in LA since at least 2020

An earthquake shook northwest Louisiana early Thursday morning. It was the largest earthquake to strike North America in the previous 24 hours. According to the U.S. Geological Survey, a magnitude 4.9 earthquake struck north of Coushatta around 5:30 a.m. Thursday. It was the strongest earthquake recorded in Louisiana since at least 2020 and the strongest quake to rattle North America in the 24 hours previous, a significant occurrence for this region. …

The Coushatta earthquakes are likely manmade. Louisiana does not regularly experience natural quakes due to its geology, but like in east Texas and Oklahoma it is believed an increase in shaking over recent years is due to the disposal of waste water generated from oil and gas extraction through injection into the ground. Most of those quakes are weak and shallow. A magnitude 4.9 earthquake is significantly stronger than most such quakes.

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Baird Maritime – March 5, 2026

Exxon to send first fuel shipment from US Gulf Coast to Australia

Exxon Mobil is set to ship around 600,000 barrels of fuel from the US Gulf Coast to cover its own import requirements in Australia, the first such shipments by the oil major, four sources with knowledge of the matter said. The planned shipments, on a route rarely used for refined products flows, show how severely global oil trade has been impacted by the near-complete halt of shipping in the Strait of Hormuz after Iran began striking vessels in the waterway this week in retaliation for US and Israeli attacks on the country.

The medium-range vessels Largo Eagle and Nord Ventura have been booked by Exxon to ship either gasoline, diesel or jet fuel, loading from Houston between March 13 and 16, and between March 15 and 18, two of the four sources said.

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Pipeline Online – March 5, 2026

Done with the Eagle Ford in Texas, Baytex is focusing on Canada

Baytex Energy Corp. is done with its Texas Eagle Ford venture, now focusing on Canadian production.. The company reported its operating and financial results for the three months and year ended December 31, 2025 (all amounts are in Canadian dollars unless otherwise noted).

“2025 was a definitive year for Baytex, marked by the successful repositioning of our portfolio into a focused, high-return Canadian oil producer,” said Eric T. Greager, Chief Executive Officer, in a release on March 4. “We strengthened our financial position and reinforced our potential for long-term value creation. With a sustaining breakeven of US$52/bbl WTI, Baytex is well-positioned to navigate market volatility and accelerate shareholder returns. Our 2026 plan is already delivering operational momentum across our core Pembina Duvernay and heavy oil fairways, and I am confident the company is set up for a seamless leadership transition.”

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Houston Chronicle – March 5, 2026

The Iran war is good for Texas oil and gas companies — but only in the short-run: Chris Tomlinson*

“Closing the Strait of Hormuz and attacking oil export facilities, we always thought that was the ‘end of days’ scenario that was going to push oil prices above $100,” explained Jim Krane, a fellow at Rice University’s Baker Institute whom I’ve known since we covered the Iraq War together for the Associated Press. “But the oil markets have been pretty relaxed.” At least for now. Persian Gulf governments stepped up oil exports when Trump started rattling sabers. Saudi Arabia stored oil around the world just in case of a war, and China has been stockpiling for the past year, Krane said.

 

Oil & Gas National & International

 

S&P Global Platts – Marc 5, 2026

Iran says targeting Western-linked ships at Hormuz, denies full closure

Iran has claimed it is restricting passage through the Strait of Hormuz only for vessels linked to Western nations and Israel rather than fully closing the critical energy chokepoint, as maritime traffic remained severely disrupted and regional oil exporters explored using stranded tankers for floating storage. The Islamic Revolutionary Guard Corps said vessels belonging to the US, Israel, European countries and their supporters would not be permitted to transit the waterway, the country’s semi-official Tasnim news agency reported March 5.

The move has effectively halted tanker movements through a strait that last year handled shipments of 15 million barrels/day of crude and 5 million b/d of oil products, mainly destined for Asian buyers, according to S&P Global Commodities at Sea data. “We are blamed by some who say Iran has shut down the Strait of Hormuz. We basically do not believe in closing the Strait,” Islamic Revolutionary Guard Corps’ brigadier general, Kiyoumars Heydari, said on state television. “We deal with the sailing vessels in accordance with international protocols.”

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The Wall Street Journal – March 5, 2026

Venezuelan Oil Cargoes Are Surging at an Opportune Time*

The global oil market is reeling after U.S.-Israeli strikes on Iran shut the world’s biggest oil-shipping artery. But tankers are ferrying more crude from an unlikely source: Venezuela. U.S. imports of Venezuelan oil have climbed to their highest level in more than a year, just months after President Trump implemented an oil blockade that crippled the shadow fleet transporting the Latin American country’s heavy crude. More than two dozen tankers have ferried Venezuela’s oil to the U.S. Gulf Coast since the early January incursion that led to the ouster of former President Nicolás Maduro. Those tankers transported more than 280,000 barrels a day to the U.S. in February, according to market intelligence firm Kpler, the most since December 2024 when Venezuela exported over 300,000 barrels a day.

 

gCaptain – March 5, 2026

US-to-Asia Oil Shipping Hits Record $29 Million as Tanker Rates Explode

It’s never been more expensive to ship crude from the US to Asia, though some deals are starting to fall through already with rates sky-high. The global energy industry has been rocked by the widening Middle East fighting, with the impacts playing out in spiking oil prices, snarled shipping and fears of higher inflation. As of Wednesday it costs just over $29 million to hire a supertanker to take two million barrels of crude from the US Gulf Coast to China, the most on record, according to the Baltic Exchange in London. That’s about double the cost from two weeks ago.

The shipping rate is also equivalent to about $14.50 a barrel, which equates to almost 20% of the West Texas Intermediate futures price, which were hovering around $75 a barrel on Wednesday. Prices of WTI and global benchmark Brent surged this week after the US and Israel launched a barrage of strikes on Iran and the Islamic Republic responded with attacks on its Middle East neighbors. The conflict has effectively stopped traffic in the Strait of Hormuz, a key shipping route.

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Middle East Forum – March 3, 2026

Iran’s War on Gulf State Energy Infrastructure Reverberates Beyond Oil and Gas

The Gulf Cooperation Council states—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—long have sustained global energy stability. As the conflict with Iran expands, it directly threatens Persian Gulf oil and gas infrastructure and undermines that stability. The latest attacks suggest a clear shift. After U.S. and Israeli strikes on Iranian nuclear facilities on February 28, 2026, Iran’s retaliation moved beyond military targets and toward critical energy assets. On March 2, 2026, Iranian drones struck Qatar’s Ras Laffan liquefied natural gas complex, forcing QatarEnergy to halt production and declare force majeure on shipments. Around the same time, Saudi Aramco shut down its Ras Tanura refinery after debris from intercepted Iranian drones caused a small fire.

These incidents matter not simply because they hit major facilities, but also because they reveal a broader strategic pattern. If Iran or Iran-linked actors systematically begin to target Persian Gulf oil and gas fields, refineries, export terminals, and processing hubs, the consequences will extend far beyond the region. Oil and gas prices would rise sharply. Shipping and trade would face new disruptions. Inflation would intensify. Supply chains would come under renewed strain. Europe and Asia would bear much of the cost.

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CNBC – March 5, 2026

Is Cuba next? What the fallout from the Iran war means for Havana

“Cuba’s next,” said Sen. Lindsey Graham, a Republican and ally of U.S. President Donald Trump, after the U.S. and Israel began strikes on Iran. The U.S. has imposed an oil blockade on the communist-run island nation since January, shortly after its ally and a key provider of oil, Venezuelan President Nicolás Maduro, was seized in an extraordinary U.S military operation. It has caused a worsening economic crisis and left Cuba facing its biggest test since the collapse of the Soviet Union.

Now Iran, with which Cuba has a strategic partnership, is under sustained attack. “This communist dictatorship in Cuba, their days are numbered,” Graham told Fox News’s “Sunday Night in America.” Before the Iran strikes, Trump said he wanted a “friendly takeover” of the island, without giving details. The comments, alongside the U.S. attacks on Iran and Venezuela, have done little to allay growing fears in Havana, experts told CNBC.

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Reuters – March 5, 2026

Russia may halt gas supplies to Europe amid Iran energy spike, Putin says*

Russia could halt gas supplies to Europe right now amid a spike ‌in energy prices triggered by the Iran crisis, President Vladimir Putin warned on Wednesday, linking the possible decision to the European Union wanting to ban purchases of Russian gas and liquefied natural gas. Oil and gas prices have soared following the U.S. and Israeli attack on Iran and Tehran’s strikes on Gulf Arab neighbours. The conflict has paralysed shipping through the Strait of Hormuz ​and forced the shutdown of Qatar’s LNG production and Saudi Arabia’s largest oil refinery.

Putin said oil prices were rising due to the “aggression against Iran” and due ​to Western restrictions on Russian oil, while European gas prices were rising because customers were willing to buy gas volumes at higher prices ⁠due to events in the Middle East and the closure of the Strait of Hormuz. Asked by a Russian state television’s top Kremlin correspondent Pavel Zarubin ​about European plans to impose a total ban on Russian pipeline gas imports by late 2027 and to ban new short-term Russian LNG contracts from ​late April 2026, Putin said it might be more beneficial for Russia to stop selling the gas right now.

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Associated Press – February 26, 2026

What to know about Greenpeace and the oil pipeline lawsuit that threatens its future

Greenpeace is fighting for its life in North Dakota’s court system, where a judge has decided to order the environmental group to pay an expected $345 million to an energy company whose Dakota Access oil pipeline construction drew protests nearly a decade ago. A jury last year found three Greenpeace entities liable for numerous claims and awarded more than $660 million to Energy Transfer in damages, which Judge James Gion cut nearly in half. Once the order he promised Tuesday is formally entered, both sides are expected to appeal to the North Dakota Supreme Court.

The $64 billion, Dallas-based energy conglomerate, which owns and operates thousands of miles (kilometers) of pipelines in 44 states, has objected to the halving of its award. Greenpeace USA has reported cash and assets nowhere near such hefty damages.

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The Times UK) – February 19, 2026

CIA ‘considered backing Ukraine plot to blow up Nord Stream pipeline’

The CIA was aware of and considered supporting the plans of a Ukrainian “sabotage squad” that is alleged to have blown up the Nord Stream gas pipelines from Russia to Germany, according to a report in a respected German news magazine. The attack in September 2022, when at least four explosive charges with the equivalent of more than a tonne of TNT were detonated at the bottom of the Baltic sea, crippled the €18 billion pipeline project, a symbol of Europe’s energy dependence on Moscow.

Der Spiegel reported on Thursday that CIA officers in Ukraine had been approached about the plan in the spring of 2022, during the early days of the full-scale Russian invasion.

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The Guardian – February 26, 2026

An oil refinery defined life in this quaint California city. What happens when it’s gone?

Less than 40 miles north of San Francisco, the city of Benicia has the quaint ambience of an American small town, where a white gazebo and sign for a community crab bake mark the approach to a vibrant downtown stretch of restaurants, cafes and antique shops. From many vantage points, it’s easy to forget the city is home to a massive 900-acre oil refinery, its imposing sprawl of stacks, holding tanks and billowing steam hidden from view. But for nearly 60 years, the refinery has loomed over every aspect of life in Benicia, exerting outsized influence on its economy and politics, while posing serious risks to public health.

The Benicia oil refinery, which the Texas oil company Valero bought from Exxon in 2000, thrived in an era when fossil fuels reigned largely unchecked over the US – offering reliable local taxes, well-paying jobs and steady economic opportunities for the many small businesses in its orbit.

 

Utilities, Electricity & Renewables

 

Inside Climate News – March 5, 2026

Texas Seizes the Solar Crown From California, and Other Key Points From the Latest Electricity Data

Texas, which already leads the country in electricity generation from natural gas, coal and wind, has passed California to become the leader in utility-scale solar. Data for 2025, released last week by the U.S. Energy Information Administration, shows that Texas generated 58,634 gigawatt-hours from utility-scale solar, enough to pull ahead of California’s 53,713 gigawatt-hours.

But California can continue to claim the distinction of leading the country in electricity from small-scale solar, which EIA defines as any project with capacity of less than 1 megawatt. And if we look at the sum of utility-scale and small-scale solar, California remains ahead.

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San Antonio Express-News – March 5, 2026

CPS Energy says it will ‘get through summer’ before deciding whether to ask for rate increase*

Although CPS Energy has built in a rate increase into its budget, utility officials told City Council that doesn’t mean it will be seeking one. “We are not there yet,” CEO Rudy Garza said during the utility’s budget presentation to council members. “We have not said we’re coming for an increase.” Chief Financial Officer Cory Kuchinsky said the utility’s “goal is to get through summer” before even considering a potential rate increase.

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Solar Power World – March 5, 2026

Vistra adds Enphase batteries to Texas VPP program

Electricity retailer Vistra is expanding its battery aggregation program to include Enphase Energy‘s IQ Batteries for residential virtual power plant (VPP) purposes. The program, Battery Rewards, is offered through Vistra’s flagship retail electricity brand, TXU Energy, and lets eligible Enphase customers earn incentives by exporting stored battery power to the grid during periods of high demand.

Through Battery Rewards, Vistra aggregates energy from participating customer-owned residential batteries and dispatches it to the Texas grid at times of energy demand. By harnessing flexible distributed energy resources, the program helps manage peak demand.

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pv magazine – March 5, 2026

Origis Energy secures $545 million for Texas solar and storage portfolio

Miami-headquartered Origis Energy announced it has secured $545 million in project financing for a portfolio of solar and energy storage assets located in Texas. The funding, which includes construction and term debt as well as tax equity, will support the completion of three utility-scale projects.

The financing was provided by a syndicate of lenders including MUFG, Natixis Corporate & Investment Banking (CIB), and SMBC. The tax equity portion of the deal was committed by a major financial institution.

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Reuters – March 5, 2026

USA Rare Earth to acquire remaining stake in Texas Round Top deposit for $73 million*

 USA Rare Earth said on Thursday it would acquire the remaining minority interest ​in a Texas rare earth deposit in an all-stock transaction ‌worth $73 million, as part of its efforts to boost domestic production of critical minerals. The company will acquire all of the outstanding shares of Texas Mineral Resources ​for about 3.8 million shares of USA Rare Earth common stock.

Last year, the company had said it will bring forward commercial ​production at its rare earths project in Texas to late 2028 from ​2030, citing faster-than-expected progress at its processing facilities and rising U.S. demand for critical minerals. The purchase will make USA Rare Earth the sole operator of the Round ​Top project, which it claims to be the largest known U.S. source of heavy ​rare earth elements, gallium and beryllium.

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Politico – March 5, 2026

Midwest utilities are looking to FERC for monopoly expansion*

Xcel Energy and other Midwest utilities are pressing federal regulators and the Trump administration to suspend competitive bidding for certain power line projects — arguing the nation’s appetite for electricity to fuel artificial intelligence depends on it. The utilities are considering filing a brief with the Federal Energy Regulatory Commission asking regulators to suspend a rule that enforces competition for the development of high-voltage lines. Proponents are telling federal officials that ending competitive bidding for transmission projects planned by grid operators in the Midwest and Great Plains is key to getting infrastructure built.

Multiple sources familiar with meetings at FERC and with administration officials said the same companies have also taken their request to the White House’s National Energy Dominance Council — support for the right to build regionally planned power lines in their service areas instead of having to bid for the projects. Other utilities involved are said to include American Transmission Co., ITC Holdings and Ameren.

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Regulatory

 

The Hill – March 4, 026

Affordable energy tomorrow requires deregulation today: Rep. Craig Goldman (R, TX)

The path to lower power bills isn’t more federal intervention — it’s less. While recent reporting points to rising energy demand as the driver of higher costs, the overlooked culprit is federal red tape. Today, there are nearly 200,000 pages of federal regulation within the Code of Federal Regulations. This is unsustainable. Achieving abundant and affordable energy will require a fundamental reversal of Washington’s regulatory status quo. Instead of continuing the creeping collection of federal energy regulations, every regulation should include a sunset clause. …

President Trump addressed this critical issue through an executive order requiring all existing energy regulations to sunset and imposing a five-year expiration date on all future energy rules. I support this initiative and have partnered with Sen. Jim Risch (R-Idaho) to introduce legislation that would codify the order into law. Congress should act swiftly to make energy deregulation the enduring federal standard by passing the Zero-Based Regulatory Budgeting to Unleash American Energy Act. Failing to do so will only prolong delays in critical energy projects and guarantee higher costs for American families. Affordable and abundant energy is within reach, but it requires repealing regulations that stifle innovation and investment. Every inefficient rule undermines national prosperity.

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Texas Energy Report NewsClips

Thursday March 5, 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

Iran’s Revolutionary Guards said on Thursday that they ​had hit a ​U.S. tanker in the northern ⁠part of the ​Gulf and the vessel ​was on fire. As of 5 am there was no immediate confirmation of the ​incident or of a ​similar attack that Iran claimed ‌earlier ⁠this week.

Oil prices surged more than 3% ​on Thursday, extending a rally as the escalating U.S.-Israeli war with Iran raised fears of prolonged disruptions ‌to vital Middle East oil and gas supplies.

West Texas Intermediate crude rose $2.44, or 3.27%, to $77.10.

Brent crude advanced $2.44, or 3%, to $83.84 per barrel by 0722 GMT, a fifth session of gains.

Crude oil markets remained on edge as they face ongoing risks to supply ​following the attacks in the Middle East, with concerns centred on trade flows through the Strait of ​Hormuz, ANZ analysts said in a note on Thursday.

Iran launched a wave of missiles at Israel ⁠early on Thursday, sending millions of residents into bomb shelters as the conflict entered its sixth day and just hours ​after moves to halt the U.S. attacks were blocked in Washington.

 

Top Stories

 

Financial Times – March 3, 2026

U.S. shale drillers cannot increase production quickly enough to solve an oil supply crisis caused by Donald Trump‘s war in Iran, industry bosses have warned, saying a big rise in output would take months to materialise. Scott Sheffield, a veteran shale boss, said producers would resist costly new drilling programmes until they were certain oil prices — which hit an 18-month high above US$80 a barrel this week amid fears of supply disruptions from the Gulf — would last.

A lack of good drilling prospects would also hold back companies, which have cut spending, idled rigs and laid off workers in the past 12 months during a period of weak oil prices, he said. “It’ll just give them extra cash flow. They can reduce debt. They can do buybacks. They can pay dividends,” Sheffield said of the price surge this week. “But once the war ends, then it’s gonna fall back pretty quickly.” He added: “Also, you got to remember the companies are running out of [drilling] inventory . . . I do not anticipate anybody adding any rigs.”

The joint U.S.-Israeli attacks on Iran and assassination of its supreme leader Ayatollah Ali Khamenei on Saturday drew a swift response from Tehran, which has targeted energy infrastructure in Arab neighbours and vowed to shut the Strait of Hormuz, the chokepoint for a fifth of global oil supply. Some huge oilfields in Iraq and Qatar’s giant gas export facilities have already shut as the war intensifies. Trump said on Tuesday that the U.S. could escort oil tankers out of the Gulf but details of the plan were scant. Goldman Sachs and consultancy Wood Mackenzie have warned that a sustained supply disruption from the Gulf could send crude prices above US$100 per barrel, pushing up fuel prices and inflation and hitting global growth.

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Oil Price – March 5, 2026

China Halts Fuel Exports Amid Global Market Squeeze

China has told energy companies to suspend new fuel export contracts and try to cancel already arranged fuel shipments abroad as global fuel markets tighten amid the Middle Eastern war that has effectively frozen most traffic through one of the world’s biggest oil and fuel chokepoints. Citing unnamed trading and energy industry sources, Reuters reported today that the call, made by the authorities in Beijing to fuel exporters, excluded jet fuel contracts for refuelling for international flights and bunkering fuel contracts.

Bloomberg, for its part, noted that the government had insisted the suspension of exports is implemented immediately. If true, this suggests that China is concerned about fuel supply availability despite its abundant oil in storage volumes, accumulated last year at a rate of close to a million barrels daily.

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S&P Global Platts – March 4, 2026

Major container lines suspend Persian Gulf bookings as conflict disrupts trade

Major container carriers have begun suspending bookings to and from the upper Persian Gulf as escalating conflict in the Middle East continues to disrupt shipping operations across the region. Germany-based Hapag-Lloyd said, as of March 4, it has implemented a booking stop with immediate effect for all cargo types to and from several Persian Gulf countries due to operational and security constraints.

The suspension applies to shipments involving the UAE, Iraq, Kuwait, Qatar, Bahrain, Oman (Sohar), Saudi Arabia (Dammam and Jubail) and Yemen, the carrier said in a customer advisory. “Due to the current operational and security constraints in the Upper Gulf region, a decision has been made to maintain cargo safety, ensure secure equipment positioning, and uphold operational standards,” the company said.

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The New York Times – Mrch 4, 2026

Trump’s Decision to Strike Iran Opens New Fissures in Midterms*

President Trump’s decision to attack Iran pushed a new, unpredictable issue to the forefront of American politics just as the midterms were getting underway, leaving both major parties navigating a volatile and potentially divisive conflict. Republicans on Saturday largely cast the strikes as a vital operation to confront a dangerous, authoritarian adversary, while Democrats warned that the operation could spiral into a perilous and protracted military campaign that would threaten to destabilize the region. In Texas, where Democrats hope to flip a Senate seat after years of disappointment, the two leading Democratic rivals in Tuesday’s primary condemned the strikes.

“CONGRESS, not the PRESIDENT, but CONGRESS has the EXCLUSIVE authority to declare war!” Representative Jasmine Crockett wrote on social media, calling on congressional Republicans and Democrats to “stand up to this President.” State Representative James Talarico, her chief rival, wrote on social media: “No more forever wars.” Republicans in a competitive three-way clash for the Senate nomination in Texas hailed the attack in glowing statements: Senator John Cornyn, the embattled incumbent, said he was “proud of the support being provided by President Trump.” Ken Paxton, the state attorney general, said the president had displayed “courageous leadership.” And Representative Wesley Hunt, a late entry into the primary race, said Mr. Trump had delivered “bold leadership” and “bold action.”

Still, a few Republicans sided with Democrats in arguing that the president had reached beyond his powers and was at odds with his own past warnings about intervention abroad. And a handful of Democrats, concentrated in swing congressional districts, expressed measured support for the attack, which the United States carried out jointly with Israel. “It’s one of these put-your-finger-to-the-wind situations,” said Steven Maviglio, a Democratic consultant in California, noting that many elected officials still had limited information about the operation. He added, “People are just testing the waters right now.”

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New York Magazine – March 3, 2026

How War in Iran Could Turn Into an Oil Shock Nightmare*

Editor Benjamin Hart spoke with Rory Johnston, a Canada-based oil-market researcher who writes the popular, data-driven newsletter Commodity Context

Can you explain why the strait’s closure would be such a problem for oil markets?
I view the strait as the world’s largest pipeline. It’s like a big garden hose, and if the strait is closed, it’s like a kink in the line. As soon as you unkink it, things go back to normal pretty quickly. The other risk here, and I think the more durable, real risk of a worst-case scenario for the oil market, is if Iran begins to pivot from just threatening the strait to attacking upstream oil infrastructure all around the gulf. You’ve got Saudi Arabia, the Emirates, Kuwait, Iraq, etc., all well within missile and drone range. And back in 2019, Iran very purposely showed that it could attack major Saudi oil installations despite their defenses.

So if closing the Strait of Hormuz is like a kink in the garden hose, attacking upstream oil assets in facilities producing assets is like taking a shotgun to the faucet to which that garden hose is attached. Everything can be repaired, but you can’t just unkink that. It’s a “repair and rebuild” situation, which takes a much longer time. That becomes a very acute crisis very quickly.

I guess one question is whether Iran even has the capacity to do that right now, given the weakened state of their defense infrastructure. 
I wouldn’t expect them to do that until there is literally the final showdown. That’s an existential, cornered-animal type of thing, because there’s no coming back from it. That would be the end of the regime.

And what if this conflict does drag on and the strait remains in this gray zone?
For tanker owners and people thinking about making the journey across the strait — if this were just a short thing, the easiest thing to do is just to wait, right? If it’s going to be over in a day or two, no harm, no foul. A couple of days is about 20 million barrels a day of crude through the strait — three days is 60 million barrels. That’s a lot of oil. But inventories are more than capable of covering the disruption. The issue becomes if it lasts longer. What they’ll do if it does last longer, and what they’re negotiating right now, probably as we speak, is exorbitant premiums for their war-risk coverage. As they’re insured for the risk, they’re going to make the journey.

People are like, “Why would they take the risk?” The answer is the Mad Men “that’s what the money is for” meme. If you’re getting paid to take the risk, people are going to take the risk. The amount of value on the line, both to exporters of the region and for import, particularly in Asia that depend on the region for their fuel — this is an existential crisis. No amount of money is too much to spend to remediate it. I think that’s what we’re going to be seeing. Now that this is not ending as quickly as I think many people had expected, we’ll see who is going to be brave for the cheapest amount of money, and then we’ll figure out what it will take to get everyone back through the strait.

Even back in the ’80s, during the height of the Iran-Iraq tanker war, when over 400 ships were attacked, including 250 tankers, and 55 of those tankers were actually sunk or scuttled — even during that period, the strait never closed formally. You still had people making the journey. But what’s happening right now is that things changed so quickly that insurers, providers, and ship owners no longer felt comfortable that they were hedged for the type of risk they were going to be taking.

Let’s say instead that this disruption is fairly temporary, that the conflict wraps up pretty quickly. Will consumers notice gas prices or other prices going up, even if it’s temporary?
I think if this lasts a couple more days, we’ll see it reflected at the gas pump in terms of overall gas prices. Diesel will be even more acutely affected. I think the big impact will be on freight and shipping rates, and that’s going to hit consumers more on the price of produce, the price of random consumer goods. That’s the type of stuff that diesel will complicate more. So I think you will see an impact at the price of the pumps, but the biggest impact won’t be as visible to consumers immediately. It will take a while to work through the supply chain.

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S&P Global Platts – March 4, 2026

Critical minerals shortage threatens US military production capacity

The Pentagon’s ability to replenish weapons stockpiles could come under pressure from the shortages in some critical mineral markets and China’s leverage over mineral supply chains, industry experts told Platts, part of S&P Global Energy. Shortfalls in tungsten, antimony, gallium, and germanium – crucial components in military hardware ranging from ammunition to advanced weaponry systems – are emerging as a strategic vulnerability for the US military in the event of a prolonged engagement in the Iran conflict.

“Stockpiles are dwindling,” Peter Clausi, director of the Critical Minerals Institute, a Toronto-based think tank, told Platts on the sidelines of the Prospectors and Developers Association of Canada conference in Toronto on March 3. “If the US is running out of tungsten and antimony and it doesn’t have access to germanium and gallium supplies, it cannot build new weapons.”

 

The Latest TERse Tips

Kazakhstan subsidiary and the Central Asian country’s Ministry ​of Energy have signed a ‌contract for geological exploration of the Zhanaturmys field in the Aktobe region, ​the ministry said on Thursday — Reuters*

A U.S. submarine sank an Iranian warship in the Indian Ocean, as Washington and Israel intensified their bombardment Wednesday of Iran’s security forces and other symbols of power — Spectrum News

Texas oilmen in the news: “Texans for a Conservative Majority: This super PAC, created in 2013, has raised more than $23 million since the start of 2025. The political action committee is different from the similarly named Texans United for a Conservative Majority, supported by West Texas oil billionaires Tim Dunn and Farris Wilks. Texans for a Conservative Majority’s top contributors include John Nau III, the former chairman and CEO of Silver Eagle Distributors, a beverage distribution company, and Anthony Wood, the chairman and CEO of Roku. Ohio Works Inc. is also a high-dollar contributor” — from Eleanor Dearman’s article “U.S. Senate ads flood TV, web in Texas this election season. Who’s behind them?” in the Fort Worth Star Telegram*

Texas oilmen cited again in Tuesday’s primary post mortem: “The most expensive state House primaries this cycle were proxy wars over issues including legalizing casinos, tort reform and a lingering battle between establishment Republicans and more hardline conservatives. The major factions included candidates backed by Miriam Adelson, owner of the Las Vegas Sands casino empire, against gambling opponents backed by hardline oil billionaire Tim Dunn; and candidates backed by Texans for Lawsuit Reform, a Republican fundraising juggernaut that has pushed to make it harder for injury victims to sue, against opponents funded by trial lawyers and medical PACs.” — Texas Tribune

And from the Texas Tribune: “…Paxton’s success at portraying himself as a conservative fighter may have obscured a more obvious reality: His campaign has been a total dud. Whereas Cornyn and his allies could summon mountains of cash with little more than the snap of their fingers and a quick phone call, Paxton has struggled mightily to raise money, getting turned down by even his longtime fairy godfather, the right-wing megadonor Tim Dunn” — Texas Tribune

A 3.8 magnitude earthquake struck just north of Stanton Wednesday morning, sending light shaking across parts of the Permian Basin and prompting residents to check on homes, offices and oilfield sites within minutes — Country Herald

Riley Exploration Permian, Inc. on Wednesday reported financial and operating results for the fourth quarter and year ended December 31, 2025 — see the press release

Crude oil inventories in the United States increased by 3.5 million barrels during the week ending February 27, according to new data from the U.S. Energy Information Administration released on Wednesday — the increase brings commercial stockpiles to 439.3 million barrels according to government data, which is still 3% below the five-year average for this time of year — Yahoo! News

 

Oil & Gas Texas

 

The Wall Street Journal – March 4, 2026

Why American Frackers Aren’t Rushing to Pump More Oil*

The Middle East is on the cusp of a prolonged conflict that could push oil prices to heights not seen in four years. For now, American drillers are sitting this one out. The U.S. oil benchmark settled at $74.56 a barrel Tuesday, a threshold not breached since last June, when American bombers dropped bunker-busting bombs on three Iranian nuclear sites. But to West Texas oilmen, it makes little sense to add expensive rigs and boost production when the war could be short-lived and crude prices drop. What they don’t want is to add to an already big glut and waste their last few sweet spots.

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Reuters – March 3, 2026

Chemical plant upset triggers flaring at Motiva, Texas complex, sources say*

A malfunction at ​the chemical plant ‌triggered flaring at the ​Motiva Enterprises ​Port Arthur, Texas petrochemical ⁠complex on ​Tuesday, said people ​familiar with plant operations. The company filed ​a notice ​telling nearby residents flaring ‌might ⁠be required by operations at the complex ​that ​include ⁠the nation’s largest ​refinery, which ​has ⁠a capacity of 640,500 barrels ⁠per ​day.

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Natural Gas Intelligence – March 4, 2026

U.S. LNG Feed Gas Slips as Corpus Christi Maintenance, Cameron Issues Weigh on Flows

• 80,000 MMBtu/d: Feed gas nominations to Corpus Christi LNG could be limited through the end of the week during maintenance at a critical compressor station, according to Wood Mackenzie pipeline data. Activities at the Sinton Compressor Station on the Corpus Christi Pipeline (CCPL) are expected to limit deliveries by about 80,000 MMBtu/d at the height of restrictions. Nominations to the terminal have been falling since Sunday (March 1), reflecting past maintenance events at the facility.
• 19.2 Bcf/d: U.S. feed gas nominations to Gulf Coast terminals have pulled back slightly over the week as disruptions at Cameron LNG and an end of elevated nominations to Golden Pass in Texas cut into overall demand. However, Wood Mackenzie estimated nominations to average 19.2 Bcf/d over the next seven days, about 4 Bcf/d above the year ago period. Roughly 2 Bcf/d has been nominated to Golden Pass since late February during operational test, but flows have reduced to near 0% capacity as of the Tuesday evening cycle, according to pipeline data.

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Journal of Petroleum Technology – February 18, 2026

Strategic Placement of Infill Wells in the Midland Basin: Addressing Stress Depletion From Parent Well Production — Study

The growing interest in closely spaced drilling units highlights the need to understand well performance under interference conditions in shale oil reservoirs, particularly in the Permian Basin. Over time, studies of the effect of well-completion optimization on production performance, along with studies on parent/child interference, have become more mature. The geomechanical effects of stress reduction from pressure depletion and its influence on child-well placement remain underexplored, however, and could play an important role in well planning.

This study examined this effect in the Midland Basin to demonstrate the geomechanical effects of production-induced pressure depletion on child wells at representative spacings, derived from basinwide well-spacing statistics. Additionally, the authors consider the relationship between depletion and production performance as a key factor in both early- and late-stage evaluations. They began with hydraulic-fracture-propagation simulations for two representative horizontal wells as parent wells in the Wolfcamp A (WCA) and Wolfcamp B (WCB) formations. This was followed by coupled flow and geomechanical simulations,

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Source NM – March 3, 2026

In New Mexico, natural gas transporter goes to the mat over $47.8M fine

On Jan. 6, 2025, Congress certified the election of Donald J. Trump as president of the United States, triggering what has become a wide-ranging dismantling of the federal government’s environmental enforcement apparatus under his second administration. On the same day, Targa Northern Delaware, LLC, a subsidiary of Targa Resources, filed a full-court-press defense against New Mexico’s Environment Department in a case over alleged air pollution violations going back years. It’s a case that troubles the department and environmental watchers like Melissa Troutman, a climate and health advocate with WildEarth Guardians.

“NMED is right to worry about this,” she said, referring to the state’s Environment Department. “These oil and gas regulators don’t have the resources to defend themselves from every company who might sue to shirk responsibility — that’s real.

 

Oil & Gas National & International

 

S&P Global Platts – March 4, 2026

Trump administration Hormuz oil security timeline uncertain: White House

The Trump administration is rolling out its plan to secure the Strait of Hormuz but does not yet have a timeline for when it will be safe for oil tankers, White House Press Secretary Karoline Leavitt said March 4. “Certainly, it is something that is being calculated actively by both the Department of War and the Department of Energy,” Leavitt said regarding the timeline and referring to the Department of Defense. “Both secretaries are in all of the briefings on this subject with the president, and this is again something they are monitoring,” she said during a press briefing.

Leavitt touted President Donald Trump’s announcement March 3 that the US Development Finance Corporation would provide political risk insurance for maritime trade in the Persian Gulf and, if necessary, the US Navy would escort tankers through the Strait of Hormuz.

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The Wall Street Journal – March 4, 2026

Strait of Hormuz: The Oil Bottleneck Threatening the Global Economy*

President Trump’s promise to protect the Strait of Hormuz with naval escorts and provide government-backed marine insurance underscores the urgent need to restore flows of energy from the Middle East before soaring prices rip through the world economy. As of Wednesday, day five of the war on Iran, several thousand ships were stuck inside and outside the Persian Gulf, trapping roughly a fifth of the oil and liquefied natural gas the world consumes each day. The blockage is cascading through the region’s industry as storage tanks fill up with oil that can’t set sail, forcing producers to slash output.

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The New York Times – March 4, 2026

With Qatar’s Gas Shut Off, Western Energy Giants See a Big Payday*

The suspension of liquefied natural gas exports from Qatar this week has sent prices of the fuel soaring in Europe and Asia. And the biggest beneficiaries of that jump are likely to be Western energy companies. Major European firms like Shell and TotalEnergies, and U.S. firms like ExxonMobil and Cheniere, stand to earn big profits even if Qatar quickly restarts gas shipments disrupted by the U.S. and Israeli attacks on Iran that began on Saturday. That’s because U.S. and European energy companies are the most viable alternative suppliers for countries and companies that previously relied on Qatar for the gas they use to generate electricity or make chemicals, steel and other industrial goods.

Over the past decade, companies like Cheniere have built eight U.S. terminals where gas is chilled into liquid that can be transported on oceangoing tankers. Much of that gas is bought under contracts by large oil and gas companies, including Shell, Total and Exxon, that, in turn, sell it to customers around the world. The main Asian L.N.G. price benchmark is up about 91 percent since the end of last week and the benchmark European price is up about 44 percent. “It’s a real windfall,” said Jason Feer, head of business intelligence at Poten & Partners, a global consulting firm and shipping brokerage. “They get the benefit of this big jump.” The price at which Western energy companies can sell L.N.G. to Europe is now roughly twice what it costs those businesses to buy and deliver the fuel, Mr. Feer said. A week ago, the companies were earning revenue that was roughly 27 to 28 percent more than their costs. Qatar, which supplies about 20 percent of the world’s L.N.G., on Monday suspended production of the fuel and other products, after its facilities were attacked.

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Reuters – March 4, 2026

Trump’s Hormuz shipping plan is too little, too late in race to avert energy shock: Ron Bousso*

Trump said ​on Tuesday he had ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for maritime trade in the Gulf. He also said the U.S. Navy ‌could begin escorting vessels through the Strait of Hormuz, the narrow shipping lane between Iran and Oman through which around a fifth of global oil and gas supplies normally passes.

At least four tankers were ​also targeted in or near Hormuz, prompting many ship insurers and charterers to suspend transit in and out of the Gulf. The closure triggered a surge in oil and gas prices – with Brent ​rising above $84 per barrel at one point, the highest level since July 2024 – and sent stock markets tumbling, particularly in Asia, as investors braced for a severe economic ⁠shock.

Saudi Aramco bringing shale gas revolution to Arabian Desert*

While the kingdom has scaled back its futuristic giga-projects and reversed plans to lift oil capacity, Aramco – the world’s biggest oil exporter – has raised its gas production targets with this $100 billion bet at the centre, as it seeks to become a major global natural gas player. Jafurah, estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion barrels of condensate, is potentially the biggest shale gas development outside the U.S.

 

Reuters – February 27, 2026

US oil output fell in December to lowest since June 2025, EIA says*

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Reuters – February 26, 2026

Motiva buys cargo of Venezuelan heavy oil for March delivery; first purchase since 2019*

 

Utilities, Electricity & Renewables

 

The Hill – March 4, 2026

Trump signs agreement with Big Tech to cover data center electricity costs

President Trump and major tech firms announced an agreement Wednesday to have Big Tech companies cover the cost of the electricity they consume as development of artificial intelligence shows no signs of stopping. Google, Microsoft, Meta, Oracle, xAI, OpenAI, and Amazon have agreed to sign onto the “Ratepayer Protection Pledge,” the White House said Wednesday, describing the pact as an agreement to build, bring or buy new power to support their data centers in order to prevent higher electricity costs for consumers.

Trump, during Wednesday’s roundtable with the companies’ leaders, said that companies would make five promises in accordance with the pact: This includes a commitment to provide or pay for all power generation and electricity needed for AI projects, along with adding electricity generating capacity to the grid through new power plants when possible. Companies also agreed to negotiate separate rate structures with different utilities, invest in local communities for workforce development, and utilize their infrastructure to provide backup power to local grids when needed.

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BIC Magazine – March 4, 2026

Texas grid sees 233 GW in data center requests: How much is real?

Grid planners are drowning in connection requests. More than 233 GW of large-load interconnection applications now sit in ERCOT’s queue, with over 70% coming from data centers. That’s nearly four times the 63 GW on the books just 14 months ago. ERCOT received 225 new large load requests in 2025 alone. The total requests exceed 220 GW by 2030, more than twice Texas’ record peak summer demand. Energy experts are calling it a bubble.

“It definitely looks, smells, feels and is acting like a bubble,” said Joshua Rhodes, a research scientist at the University of Texas at Austin. “The top-line numbers are almost laughable.” ERCOT officials told board members in December the organization can no longer evaluate applications individually. Existing rules were developed to handle 40 to 50 large loads at a time. With 225 new requests in a single year, the system has broken down.

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CNBC – March 4, 2026

Trump has an AI data center problem ahead of the midterms — with no easy solutions

President Donald Trump hauled big technology companies into the White House on Wednesday to sign a pledge that they will supply their own power for artificial intelligence data centers, as anger grows across the U.S. over rising electricity prices ahead of the midterm elections.

Trump has embraced the artificial intelligence industry as an engine of economic growth and pillar of national security in the U.S. rivalry with China. But his alliance with the industry also poses political risks as Democrats zero in on the cost of living as they campaign to win back Congress. Grassroots opposition to data centers is growing in communities across the U.S. with residents blaming the facilities for high utility bills. Trump promised to

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The New York Times – March 4, 2026

A Nuclear Reactor Backed by Bill Gates Gets Federal Approval to Start Building*

A novel type of nuclear power plant in Wyoming backed by Bill Gates received a key federal permit on Wednesday, making it the first new U.S. commercial reactor in nearly a decade to receive clearance to begin construction. The Nuclear Regulatory Commission, the federal body that oversees reactor safety, unanimously voted to grant a construction permit to TerraPower, a start-up founded by Mr. Gates. TerraPower is one of several companies trying to build a new wave of smaller, advanced reactors meant to be easier to build than the large reactors of old.

The permit, which comes after years of consultations and regulatory reviews, means that TerraPower can begin pouring concrete and building the nuclear components of its proposed nuclear plant in Kemmerer, Wyo. The plant, which still faces plenty of logistical hurdles, is currently expected to come online in 2031 near an old coal-burning power plant that is slated to retire a few years later. “Today is a historic day for the United States nuclear industry,” Chris Levesque, TerraPower’s chief executive, said in a statement. “This is the first commercial-scale, advanced nuclear plant to receive this permit.” …

TerraPower is one of more than a dozen start-ups across the United States betting that new technology and designs can make it easier and cheaper to build reactors. Today, every American nuclear plant uses light-water reactor technology, in which water is pumped into a reactor core and heated by atomic fission, producing steam to create electricity. Because the water is highly pressurized, these plants need heavy piping and thick containment shields to protect against accidents.

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Latitude Media – March 4, 2026

What AES’ $33.4 billion take-private says about energy and AI

It’s been quite a week for AES. It started with the announcement of a 20-year deal with Google to power an 850 MW data center in Texas with colocated renewables, and peaked on Monday with the official confirmation that the developer is going to be acquired by a consortium led by BlackRock’s Global Infrastructure Partners and EQT, for an enterprise value of $33.4 billion.

The take-private deal, which is one of the largest ever in the utility sector, embodies many of the shifts that the boom in artificial intelligence has brought to energy in recent years. According to Ben Hertz-Shargel, global head of grid edge at Wood Mackenzie, the deal shows that “amazingly, utilities are a growth story” — but to maintain that growth, utilities and power producers must invest money at a scale and speed that is hard to sustain without external help.

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Utility Dive – March 4, 2026

Utilities’ spending spree continues, according to their Q4 2025 reports

The tail end of 2025 saw continued growth in most utilities’ spending and load projections, with Duke Energy claiming the distinction of having the largest capital spending plan of any regulated electric utility in the U.S.  Companies used their fourth-quarter earnings presentations to highlight their efforts to address affordability concerns through large load tariffs and other means as they come under pressure from ratepayers, regulators and elected representatives over rising costs.

Transmission, grid hardening and wildfire mitigation also figured prominently in several spending plans, as did gas-fired generation, which has seen a resurgence in interest from load-serving entities and hyperscalers, even as turbine manufacturers face backlog

 

Regulatory

 

Bloomberg – March 4, 2026

Soaring Power Prices Send US on Search for Solutions*

US politicians are racing to tame the soaring cost of electricity that threatens to upend this year’s congressional elections. The Energy Department has loaned $26.5 billion — the most in its history — to help a big Southeastern utility reduce the cost of building new power plants in Georgia and Alabama. Meanwhile, the nation’s biggest grid operator has proposed capping wholesale prices and some governors are weighing utility rate freezes as a way to keep a lid on electricity costs. The affordability problem prompted a White House meeting to be held Wednesday with technology executives to address price spikes tied to billions of dollars in artificial intelligence investments. President Donald Trump wants tech companies to commit to footing the power bill for their energy-hungry data centers, which are blamed for driving up electricity costs.

Microsoft Corp., Amazon.com Inc., Alphabet Inc.’s Google, Meta Platforms Inc., Oracle Corp., xAI and OpenAI have agreed to sign the so-called ratepayer protection pledge Wednesday, said Michael Kratsios, an assistant to the president and director of White House Office Science and Technology Policy. The signers would agree to build or fund new power generation for their AI data centers, and pay for related infrastructure as well, Kratsios said in a media briefing on Wednesday. Companies that sign the pledge would negotiate separate rate structures with utilities and state governments, Kratsios said. They would commit to paying those rates for power and funding the added infrastructure, whether or not they use the electricity, he added.

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Politico – March 4, 2026

Committee sets vote on energy infrastructure security bills*

The House Energy and Commerce Committee will vote Thursday on legislation to protect pipelines and the electric grid from cyberthreats and other dangers. The roster of bills, which include giving new authorities to the Department of Energy, already cleared the Energy Subcommittee with broad, bipartisan support. The “Securing Community Upgrades for a Resilient (SECURE) Grid Act,” H.R. 7257, from subcommittee Chair Bob Latta (R-Ohio) and Rep. Doris Matsui (D-Calif.), would amend the Energy Policy and Conservation Act to require states to address physical security, cybersecurity and resilience of local distribution systems in their state energy security plans.

The “Energy Emergency Leadership Act,” H.R. 7258, from Reps. Laurel Lee (R-Fla.) and Greg Landsman (D-Ohio), would create a Senate-confirmed assistant secretary position at DOE focused on cybersecurity threats to grid infrastructure. The “Pipeline Cybersecurity Preparedness Act,” H.R. 7272, sponsored by Reps. Randy Weber (R-Texas) and Debbie Dingell (D-Mich.), would require DOE to establish a program addressing cyber and physical risks facing pipelines and liquefied natural gas facilities.

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Texas Energy Report NewsClips

Wednesday March 4, 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

Oil prices rose 3% on Wednesday as the U.S.-Israeli war ​on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after ‌President Donald Trump suggested the U.S. Navy could escort vessels through the Strait of Hormuz.

U.S. West Texas Intermediate crude rose $2.24, or 3%, to $76.8, after settling at its ​highest since June. Both benchmarks have risen about 5% or more in the past two sessions.

Brent rose $2.67, or 3.3%, to $84.07 a barrel by 0659 GMT, after closing on Tuesday at its highest since January 2025.

“The primary near-term ​driver for oil prices remains the US-Iran conflict,” said OANDA senior market analyst Kelvin Wong.

“At ⁠this stage, only clear signs of de-escalation could mitigate or reverse the current bullish trend for WTI, and such ​signals are currently lacking.”

Israeli and U.S. forces struck targets across Iran on Tuesday, prompting Iranian strikes against energy infrastructure in a ​region that accounts for just under a third of global oil production.

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Top Stories

 

Seatrade Maritime – March 3, 2026

The Joint Maritime Information Center has upgraded its regional risk assessment to Critical, the highest level, indicating “an attack is almost certain”

Related: Faced with the overwhelming firepower of the United States and Israel, diplomats and analysts say, Iran is working to enlarge the battlefield from its own territory to the broader region — The New York Times*

Related: Iran strikes Saudi infrastructure, pushing Riyadh toward possible war — Iranian strikes on Saudi oil, water, and diplomatic sites have crossed key red lines experts warn, forcing Riyadh to weigh retaliation against fears of wider regional escalation — Jerusalem Post

Iranian broadcast to ships on VHF Channel 16 that the Strait of Hormuz was closed and no ships would be allowed to pass grabbed the headlines that the waterway was shut. Again, in the past 24 hours were the statements by Ebrahim Jabbari, a senior adviser to the Commander-in-Chief of Islamic Revolutionary Guard Corps, on Iranian TV saying: “The Strait of Hormuz has been closed. We will attack and set ablaze any ship attempting to cross.” The result is headlines in the mainstream media saying the Strait of Hormuz is closed.

However, threatening as these statements are the question is still being asked in the industry “does this mean the Strait is really closed?” As such there are two answers to this question – the legal, formal one, and the operational risk and frankly common sense one for the vast majority ships and their owners. Taking the first answer, the legal one, there has been no formal notice that the Strait of Hormuz has been closed and as such the statements and radio messages by Iran should be viewed as rhetoric.

While the statements are rhetoric in one sense the threat from Iran to commercial shipping in the Strait is a very real one. This is evidenced by the Joint Maritime Information Centre upgrading its regional risk assessment to Critical – the highest level that indicates “an attack is almost certain”. “While no formal legal closure of the Strait of Hormuz has been declared, the operational environment reflects active kinetic hazard conditions in this area,” JMIC said in its latest update.

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Texas Tribune – March 3, 2026

Bo French, Jim Wright head to runoff for seat on Texas Railroad Commission 

Texas Railroad Commissioner Jim Wright and challenger Bo French will head to a runoff election, unofficial election results showed Tuesday, as neither could break through the required majority to secure the nomination. A candidate needs to win at least 50% of the vote to head to the general election. The candidate who wins the runoff election will face state Rep. Jon Rosenthal, D-Houston, in November. Rosenthal did not have a primary opponent. No Democrat has been elected to the commission since 1995. …

French, whose family owns an oil company in Midland, French Oil Company, recently stepped down as chair of the Tarrant County Republican Party to run for the seat at the commission. Behind Wright, he was the second most prolific fundraiser among the candidates, rasing more than $279,000.

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The Hill – March 3, 2026

Trump moves to give oil ships financial cover amid Iran war

President Trump took steps Tuesday to prevent a sharp decline in global oil supply and give maritime shipping companies financial protection amid the war in Iran. The president said Tuesday he was ordering the U.S. Development Finance Corp. (DFC), a federal agency, to provide political risk insurance for shipping companies traveling through the Persian Gulf.

Oil prices have spiked since the U.S. and Israel launched strikes against Iran over the weekend, killing Iranian supreme leader Ayotollah Ali Khameni. Iran has said it would close the Strait of Hormuz in response, choking off the key maritime shipping lane for energy and other firms. In a post on Truth Social, Trump ordered DFC to offer “at a very reasonable price, political risk insurance and guarantees for the Financial Security of ALL Maritime Trade, especially Energy, traveling through the Gulf. This will be available to all Shipping Lines.”

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Politico – March 3, 2026

Republicans dismiss energy cost concerns after Iran strikes

When the U.S. and Israel launched a wave of strikes on Iran over the weekend, some Democrats warned about the impact on energy costs. Now that those predictions have come to pass with an uptick in global prices for natural gas and crude oil, Democrats are pouncing — and Republicans are pushing back. Senate Majority Leader John Thune (R-S.D.) started to set the tone for the GOP’s messaging Monday afternoon, saying he expected prices to return to prewar levels soon.

“I think that there will be, hopefully, a cessation of this in the not-too-distant future, at which time my assumption is that that’ll stabilize a bit,” Thune said. “Anything that happens in the Middle East seems to set off an increase in oil prices.” Other Senate Republicans are also giving the administration some breathing room for the time being. Sen. John Curtis (R-Utah) said that while fluctuating energy prices are worth watching, “it seems to be second-tier right now.” Sen. Bill Cassidy (R-La.) agreed it was “a little soon to be saying that this is going to be a major issue.” Like a number of energy industry analysts, some Republicans are pointing to policies boosting domestic energy production as a potential cushion that could soften the impact of the price volatility. Indeed, other recent instability in the Middle East has not translated into major price spikes.

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Inside Climate News – March 3, 2026

War in Iran Could Have ‘Historic’ Disruptions on Energy Markets

The U.S. and Israeli war against Iran is disrupting energy markets and driving oil and gas prices higher in the United States and globally. While those increases are modest so far, experts say the war has the potential to cause more severe and lasting impacts if Iran damages the region’s energy infrastructure or restricts shipping through the Strait of Hormuz.

Already, the three-day-old bombing campaign has killed hundreds of people in Iran, including the country’s leader, Ayatollah Ali Khamenei. Iran has retaliated by hitting a broad range of targets across the region, including oil and gas sites. On Monday, Saudi Arabia’s Ministry of Energy said its Ras Tanura oil refinery sustained “limited” damage after the interception of two drones. QatarEnergy said Monday it was halting production of liquefied natural gas, or LNG, after military attacks on two facilities.

 

The Latest TERse Tips

Donald Trump-endorsed Alex Mealer headed to runoff with Briscoe Cain in Texas’ 9th District — Houston Chronicle*

Mayes Middleton, Chip Roy advance to runoff for Texas GOP attorney general nomination — News from the States

Who is Steve Toth? What to know about the Texas lawmaker who upset Dan Crenshaw in the Congressional District 2 primary — Houston Chronicle*

Nate Sheets declares victory over three-term Ag Commissioner Sid Miller — Austin American-Statesman*

Talarico wins Texas Senate Democratic nomination while Cornyn and Paxton head to Republican runoff — Associated Press

Don Huffines wins GOP comptroller race, beating Gov. Greg Abbott-backed candidate, the interim incumbent Kelly Hancock — Dallas Morning News*

Gov. Greg Abbott and Lt. Gov. Dan Patrick easily win their Republican primaries — News from the States

Embattled Rep. Tony Gonzales forced into runoff with challenger Brandon Herrera

US banks on high alert for cyberattacks as Iran war escalates — Reuters*

The Trump administration is quietly building a legal case against Venezuelan interim president Delcy Rodriguez including readying a draft criminal indictment, one of several tools it is using to strengthen its leverage with Caracas, according to four people familiar with the matter — Reuters*

A Russian-controlled, sanctioned LNG carrier has been set on fire while on passage through the Mediterranean but its crew has been rescued — Trade Winds

“Blackstone’s utility playbook: NIPSCO and the future of TXNM” — a report from the Private Equity Stakeholder Project

Largest energy storage facility statewide gets approved for construction in Everett MA — the proposed facility’s construction is the first part of a wider development project at the former ExxonMobil tank farm site — Boston.com

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Oil & Gas Texas

 

BIC Magazine – March 3, 2026

Exxon, TotalEnergies output at risk from Iran war, analysts say

ExxonMobil, TotalEnergies and Shell are among the companies with more exposure to disruptions in oil and gas production due to the U.S.-Israel war ​with Iran, analysts said in research notes this week.

• Energy Giant Exposure: Analysts identify ExxonMobil, TotalEnergies, and Shell as the companies most vulnerable to the conflict, with Middle Eastern operations accounting for 20% to 29% of their total production.
• Supply Disruptions: Military strikes and Iranian drone attacks have forced the shutdown of major oil and gas fields, including a total halt of LNG production in Qatar, which supplies 20% of the global market.
• Market Volatility: The closure of the Strait of Hormuz has triggered a massive price surge, with European natural gas jumping 40% and Brent crude rising to over $77 per barrel.

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US News – March 3, 2026

Exxon to Send Team to Venezuela in a Few Weeks, Executive Says

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Rigzone – March 3, 2026

UK, Texas Industry Bodies Comment on Middle East Conflict

“At a time when geopolitical tensions, including military action involving Iran, disrupt global energy supply routes, the United States and Texas provide stability,” he added. “Americans can rest assured that the United States, led by Texas, has the capacity to respond because of unmatched production, robust pipelines and world-class refining and export infrastructure,” he continued.

“While price fluctuation often occurs during times like these, Texas energy helps to minimize volatility for American consumers and stabilize global markets,” Staples noted. “American families and businesses, our military, and our allies abroad can depend on the reliable, affordable energy supply that starts here,” he highlighted.

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MEES – February 27, 2026

Chevron In Exclusive Talks For Iraq’s West Qurna-2*

Chevron has reached a key milestone in its planned entry into Iraq’s upstream. The US major signed two agreements with Baghdad on 23 February for exclusive negotiations to take over the 480,000 b/d capacity West Qurna-2 (WQ-2) oil field, and for and development of the Nasiriyah oil field. The agreements also cover four exploration blocks in Dhi Qar Governorate, and development of the Balad oil field in Saladin Governorate.

Tom Barrack, US ambassador to Turkey and envoy to Syria, attended the signing ceremony alongside Prime Minister Mohammed al-Sudani. Mr Barrack is also overseeing US policy on Iraq following last month’s departure of Special Envoy to Iraq Mark Savaya

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Inside Climate News – March 3, 2026

Tiny Texas School District Rejects Tax Deal with $6 Billion LNG Project

The Point Isabel Independent School District on Monday rejected a multi-million dollar tax break for a proposed $5.7 billion liquefied natural gas (LNG) project on the Texas Gulf Coast, finding the facility would not “align” with the community’s values or finances.  Districts in Texas have typically granted such agreements, which are meant to incentivize investment with reduced property taxes in exchange for promises of economic development.

But the school district’s board of trustees in Port Isabel, with 5,200 people tucked between nature preserves at the mouth of the Rio Grande, have rejected three similar proposals from LNG developers planning to build large industrial complexes in the area, including a previous application from the 625-acre Texas LNG project.

 

Oil & Gas National & International

 

S&P Global Platts – March 3, 2026

Oil tankers eye floating storage as shipments from Persian Gulf at near standstill

Oil tanker companies are exploring opportunities to store refined products in the Persian Gulf to ensure cash flow at a time when they are facing challenges loading and moving out of the region, several market participants said March 3. “It’s a commercial decision, as there is nothing [else] to do right now,” a senior executive of a global oil tankers’ company that regularly loads cargoes of refined products from the Persian Gulf said.

Deals are being considered on a dollars per day basis because dozens of Long Range and Medium Range tankers are stuck in the Persian Gulf, a clean oil tankers broker said. Before the Iran-US war broke out over the weekend, Long Range II and I tankers on the benchmark Persian Gulf-North Asia routes were daily earning close to $45,000/day and $38,000/day on a round voyage basis, respectively, according to the estimates of brokers.

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The New York Times – March 3, 2026

Trump Bets That ‘Energy Dominance’ Will Make War in Iran Less Costly*

The Trump administration has said that it has more leeway to act aggressively in the Middle East because the world is flush with oil and gas, thanks in part to record U.S. production, and has less to fear than it once did from energy price shocks. The ongoing war in Iran could put that theory to the test. Long before U.S. and Israeli forces attacked Iran over the weekend, Trump administration officials had repeatedly suggested that America’s “energy dominance” means fewer constraints on military action abroad, including in oil-producing countries. The United States bombed Iran last summer and captured Venezuela’s president in January, and each time, the effect on global oil prices was fairly modest.

“The world is very well supplied with oil right now, and I think it gives President Trump more leverage in his geopolitical actions to not worry about a crazy spike in oil prices,” Chris Wright, the energy secretary, said on CNBC last month. Initially, at least, energy markets appeared to be responding to the latest conflict as Trump officials suggested they would. But experts cautioned that a prolonged war could quickly become far more economically damaging — and less predictable. The weekend’s strikes, and Iran’s missile and drone volleys in response, have already triggered some of the largest disruptions to global oil and gas markets in years. The flow of oil tankers through the Strait of Hormuz, a critical shipping channel off Iran’s southern coast, has slowed sharply. Qatar on Monday halted production of liquefied natural gas after Iran attacked two of its gas sites. And Saudi Arabia suspended operations at its biggest oil refinery after a fire broke out during a drone strike.

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Midland Reporter-Telegram – March 3, 2026

Analysts: Oil prices to be determined by Iran war length*

Energy prices continue to climb as U.S. and Israeli attacks on Iran have significantly disrupted Middle East oil supplies. But market analysts believe those price increases could be short-lived. Despite the closure of the Strait of Hormuz and attacks on infrastructure, analysts at S&P Global Energy are holding to their forecast of a $65 Brent midcycle oil price.

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The Wall Street Journal – March 3, 2026

U.S. Success Against Iran Could Be a Game Changer for World Oil Security*

There are countless ways the U.S. and Israeli attack on Iran could go wrong. Indeed, commentators seem to have dwelt on little else. Instead, let’s game out everything going right, if only because that would be a game changer for world energy security and geopolitics. If Iran, along with Venezuela, is soon ruled by a regime friendly or at least not hostile toward the U.S., that would neutralize two oil exporters who have regularly been the cause of supply disruptions in recent generations. Russia would remain the only adversarial oil power with significant sway, and its clout would be diminished.

Iranian attacks have left gas facilities in Qatar and an oil refinery in Saudi Arabia damaged. Tanker traffic in the Strait of Hormuz has halted. But the strait technically remains open, and Iran’s ability to close it will likely diminish as the U.S. destroys its navy and missile batteries. Market reaction so far suggests disruption has been less than feared. Since Friday, Brent crude oil is up about $10 to around $82 early Tuesday afternoon, at the low end of where many analysts had expected. U.S. stocks, which were little changed Monday, were down less than 1% Tuesday afternoon. While President Trump initially called for regime change, he might stop short of that. After removing Venezuelan President Nicolás Maduro, Trump left Maduro’s vice president, Delcy Rodríguez, in charge, in exchange for control of its oil exports and industry.

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The Wall Street Journal – March 3, 2026

Iran Strikes Shatter the Gulf’s Post-Oil Pivot*

The Gulf’s costly gamble to build a post-oil future is now facing trial by combat. After years—and hundreds of billions of dollars—spent transforming the region into a nexus for artificial intelligence, tourism and logistics, those aspirations are now under fire as Iranian strikes pound the United Arab Emirates, Saudi Arabia and neighboring states. Amazon said early Tuesday it expected extended service interruptions following damage from drone attacks on three data centers in the region. The outages, which have led to users in the Gulf reporting banking app glitches, compound what has quickly become the most severe business disruption the Middle East has faced since the pandemic—and one that threatens to leave even more enduring consequences.

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The New York Times – March 3, 2026

Who Could Profit From an Energy Crisis?*

Related: These U.S. natural gas exporters benefit from disruption to Qatar LNG supply in Iran war — CNBC

Concerns about an energy supply crunch are mounting after an Iranian official threatened on Monday to “set on fire” any ships traveling through the Strait of Hormuz, a narrow waterway that conveys 20 percent of the world’s oil and a substantial proportion of natural gas, and after President Trump said the war could last for weeks. Oil prices are up, but so far the spike has not been stratospheric. That’s because the world is flush in oil and gas supplies, my colleagues reported this morning, thanks in part to record production in the United States. This “energy dominance” may have emboldened the Trump administration to act aggressively in the oil-rich Middle East, write Brad Plumer, Lisa Friedman and Rebecca F. Elliott.

But a protracted conflict could seriously disrupt energy markets and raise the prospect of higher household energy bills, which could in turn lead to higher inflation. It also means some companies are positioned to profit from high energy prices. Today, we look at who is poised to make money. Qatar’s state-owned energy company shut down production of liquid natural gas on Monday after Iranian drone attacks on two of its sites. Natural gas prices in Europe surged by as much as 50 percent in the immediate aftermath of the announcement, Eshe Nelson reported. Qatar handles about 20 percent of the world’s natural gas exports. If its production facilities remain down or ships can’t travel through the Strait of Hormuz, liquid natural gas (L.N.G.) buyers in Asia and Europe may need to find other suppliers.

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Oil & Gas Journal – March 3, 2026

Occidental Petroleum, 1PointFive STRATOS DAC plant nears startup in Texas Permian basin

Occidental Petroleum Corp. and its subsidiary 1PointFive expect Phase 1 of the STRATOS direct air capture (DAC) plant in Texas’ Permian basin to come online in this year’s second quarter. In a post to LinkedIn, 1PointFive said Phase 1 “is in the final stage of startup” and that Phase 2, which incorporates learnings from research and development and Phase 1 construction activities, “will also begin commissioning in Q2, with operational ramp-up continuing through the rest of the year.”

Once fully operational, STRATOS is designed to capture up to 500,000 tonnes/year (tpy) of CO₂. As part of the US Environmental Protection Agency (EPA) Class VI permitting process and approval, it was reported that STRATOS is expected to include three wells to store about 722,000 tpy of CO₂ in saline formations at a depth of about 4,400 ft. The company said a few activities before start-up remain, including ramping up remaining pellet reactors, completing calciner final commissioning in parallel, and beginning CO₂ injection.

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The New York Times – March 3, 2026

U.S. Automakers Risk Being Reduced to Niche Producers of Gas Vehicles*

Perhaps no business needs certainty more than the auto industry. It usually takes at least four years to design a new model and bring it to market, requiring carmakers to divine what buyers will find appealing by the time the vehicles reach showrooms. Yet industry veterans say they can’t remember a time when the biggest carmakers faced as much uncertainty as they do now. They have been whipsawed by tariffs. Chinese carmakers are breathing down their necks around the world. Self-driving taxi companies like Waymo are changing the very nature of transportation. Software has replaced horsepower as a key selling point. Sales are flat almost everywhere, and profits are declining.

How U.S. carmakers cope with this pivotal moment will determine whether they survive as global players or slide into irrelevance, becoming niche manufacturers of pickups and sport utility vehicles that only Americans buy. The early indications are not promising. Many established U.S. and European carmakers have been stumped by electric vehicles at seemingly every turn. First, Tesla’s meteoric rise caught them unawares. They responded by investing in new factories but are now pulling back after the U.S. government repealed tax credits and other subsidies for those cars.

“The term ‘unprecedented’ is always overused. But it is really everything coming together at once,” said Stuart Taylor, a former Ford Motor executive who is chief product officer at Envorso, which advises carmakers on software. U.S. carmakers, in particular, face some difficult choices. President Trump has given them a short-term gain by dismantling clean air regulations and fuel economy standards, making it easier to sell pickups and sport utility vehicles that are very profitable.

 

Utilities, Electricity & Renewables

 

News from the States – March 3, 2026

Amid utility corruption trial, leaked GOP bill would allow for electric companies to own nuclear

An Ohio lawmaker is moving to allow electric utilities to own nuclear power, according to a leaked bill draft. The legislation, allegedly co-written by an energy company, surfaced as utility executives are on trial for the largest public corruption scheme in state history. Ohio electric customers have paid for corrupt legislation for years.

“If we’re not able to see how the moneyed interests are influencing us, we’re just going to keep being ripped off,” Catherine Turcer, a government watchdog with Common Cause Ohio, said Turcer points to the legacy of 2019’s Ohio House Bill 6. Former FirstEnergy executives are currently on trial due to their $65 million scheme to pass H.B. 6, which provided a billion-dollar bailout for their struggling nuclear facilities. They passed this legislation at the expense of ratepayers, hiking their utility bills.

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March 3, 2026

U.S. battery industry cuts losses, shifts to new ventures amid EV bust: Dallas Fed

The future of the U.S. battery industry looked extremely promising several years ago. Consumer interest in electric vehicles (EVs) was rising, and the Inflation Reduction Act, passed in 2022, provided incentives for the domestic production of lithium-ion batteries that would power those vehicles.

Automakers responded with bold pledges to increase sales of EVs, pledges that were mirrored by major investment in gigafactories (enormous factories for producing lithium-ion batteries). More than 20 gigafactories were announced in the U.S. from 2021 through 2022, representing more than $50 billion in potential investment and thousands of new jobs. More announcements followed in 2023 and 2024.

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Mother Jones – March 3, 2026

The Culture Wars Are Coming for Your Electricity

Relations between states are becoming so strained over their different approaches to fossil fuels and renewables, some politicians are calling for a “divorce.” Utah Republicans celebrated last week when PacifiCorp, one of the largest utilities in the West, announced it would stop serving customers in Washington state. PacifiCorp mainly operates in Utah, but also in Wyoming and Idaho—and, to the chagrin of some Utah legislators, blue states like California and Oregon. Utah legislators had previously pressured to break their utility’s ties with states with more aggressive climate policies.

Now, PacifiCorp is handing over its 140,000 customers in Washington—along with two wind farms, a natural gas plant, and other energy infrastructure—to Portland General Electric for $1.9 billion.“We want a divorce from the three states that don’t look like Utah,” said Mike Schultz, Utah’s Republican House Speaker. “This is the first step forward.”

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Forbes – March 2, 2026

Data Center Batteries Enter The Iron Age

The spike in power demand from AI data centers over the past two years is not only driving up utility prices but also driving rapid, sustained growth in renewable power, especially solar. That’s despite the Trump administration’s attempts to encourage more use of carbon-based fuels. This has largely been thanks to increased use of battery storage to overcome the intermittent electricity generation of wind and solar.

Last year, the U.S. installed a record 58-gigawatt-hours of battery storage, 30% higher than in 2024, according to the Solar Energy Industries Association. Much of that growth was led by packs using lithium-iron phosphate cells, a chemistry that’s been mastered by Chinese battery giants CATL and BYD. Its advantage has been both lower costs and reduced fire risks compared to the lithium-ion cells used in electric cars. The challenge with that chemistry, however, is that the U.S. lacks a soup-to-nuts supply chain to produce LFP cells domestically.

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Midland Reporter-Telegram – March 3, 2026

FiberLight to invest $350 million in West Texas fiber to serve AI data centers*

High-capacity fiber-optic networks and connectivity services are rushing to invest in infrastructure as artificial intelligence data centers flock to West Texas. FiberLight is among those providers, announcing a $350 million capital investment to build approximately 1,400 route miles of new, high-capacity network infrastructure across West Texas. That 1,400 new route miles of high-capacity fiber and duct will be purpose-built, high-count dark fiber engineered to scale alongside exponential AI workload growth.

 

Ars Technica – February 16, 2026

A fluid can store solar energy and then release it as heat months later

Heating accounts for nearly half of the global energy demand, and two-thirds of that is met by burning fossil fuels like natural gas, oil, and coal. Solar energy is a possible alternative, but while we have become reasonably good at storing solar electricity in lithium-ion batteries, we’re not nearly as good at storing heat.

To store heat for days, weeks, or months, you need to trap the energy in the bonds of a molecule that can later release heat on demand. The approach to this particular chemistry problem is called molecular solar thermal (MOST) energy storage. While it has been the next big thing for decades, it never really took off.

 

Regulatory

 

JD Supra – February 18, 2026

State Energy Regulatory Approaches to Powering Data Centers: Pillsbury Winthrop Shaw Pittman

The rapid expansion of data centers—driven by cloud computing, artificial intelligence and hyperscale digital infrastructure—has transformed what were once localized land-use and utility ratemaking concerns into issues of statewide and federal economic and energy policy. While our recent commentary focused on an emerging federal regulatory framework to power data centers, including in pending proceedings before the Federal Energy Regulatory Commission (FERC), states are simultaneously moving to legislate, regulate, incentivize, and in some cases constrain data center development. These state-level actions are ever more consequential to the economics of data center projects, impacting everything from site selection and interconnection timelines to long-term operational risk. …

This article analyzes key emerging themes across states rather than cataloging any individual state’s statutes or dockets. State policy frameworks are evolving to address the scale and energy impacts of data center growth, even while ongoing considerations occur at the federal level to redefine the boundaries of federal versus state authority over powering data centers. As a result, until FERC intervenes and successfully defends its pending new rules in federal courts, these state-level frameworks will materially shape data center projects.

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Texas Energy Report NewsClips

Tuesday March 3, 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

Oil prices rose for a third day on ​Tuesday as the widening U.S.-Israeli conflict with Iran and threats to shipping through the Strait of Hormuz ‌heightened fears of supply disruptions from the key Middle East producing region.

West Texas ​Intermediate crude jumped $1.17, or 1.6%, to $72.40 a barrel. In the previous session, the contract initially climbed to its highest ​since June 2025 before sliding back to still settle up 6.3%.

Top Stories

 

CNN – March 2, 2026

US Gulf allies fend off attacks as Trump warns Iran of ‘big wave’ of strikes

President Donald Trump told CNN the “big wave” of the US attack on Iran is yet to come. Trump laid out his war objectives for reporters, saying he wanted to destroy Iran’s missile capabilities, annihilate its navy, end its nuclear ambitions and stop it arming militant groups.

On the ground: Iran and its proxies are continuing to strike US allies in the Gulf, with the US Embassy in Saudi Arabia hit by suspected Iranian drones, booms heard in Iraq and sirens sounding over Bahrain. Israel, meanwhile, is striking Hezbollah targets in Beirut.

Americans warned: The US State Department urged US citizens to leave the Middle East immediately. Trump told CNN “the biggest surprise” of the war has been Iran’s attacks against Arab countries in the region.” Iran’s foreign minister said the “American people deserve better and should take back their country,” mirroring Trump’s repeated remarks to Iranians.

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Reuters – March 2, 2026

Qatar LNG, Saudi refinery, Israeli oil, gas fields down due to Mideast strikes*

Qatar halted its production of liquefied natural gas on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and U.S. strikes against it, prompting precautionary shutdowns of oil and gas facilities across the Middle East. Qatari LNG production is equivalent to about 20% of global supply and plays a major role in balancing both Asian and European markets’ demand for the fuel.

As a wave of attacks in the Middle East stretched into a third day, they also resulted in the suspension of operations at Saudi Arabia’s biggest domestic oil refinery after a drone strike, most oil production in Iraqi Kurdistan and several Israeli gas fields, throttling exports to Egypt. State-owned QatarEnergy, 82% of whose clients are Asian, was set to declare force majeure on its LNG shipments after Iranian drone attacks on facilities in the sprawling Ras Laffan complex. The complex hosts Qatar’s gas trains — massive processing units that supercool natural gas into liquid form for export by ship.

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The Wall Street Journal – March 2, 2026

Gulf States in Race Against Time to Repel Iran’s Onslaught*

Persian Gulf nations targeted by Iran have, so far, managed to limit the damage by deploying sophisticated U.S.-made air defenses against the hundreds of drones and missiles that have rained on their cities. With costly interceptors and radar, all integrated with the U.S. military, the oil-rich Gulf Arab states have fielded some of the most advanced air defenses in the world, despite their small populations and militaries.

Bloomberg – March 2, 2026

Ships Avoid Hormuz as Iran Raises Threats, Conflict Spreads*

Related: The Strait of Hormuz is facing a blockade. These countries will be most impacted — CNBC

Oil and gas shipping remains largely paused in the Strait of Hormuz that links the oil-rich Persian Gulf to the open seas, as a regional conflict escalates and Iran cranks up threats to vessels transiting through the chokepoint. On Sunday, a trickle of vessels were moving out of the waterway, which is crucial for the flow of oil and gas, according to ship-tracking data, even if none appeared to be entering. A small oil tanker, which appears to be sanctioned by the US for helping Iran export fuels, was targeted off Oman’s northern coast, though it was unclear who was behind the attack.

Mohsen Rezaei, a member of the Expediency Discernment Council that advises Iran’s supreme leader, said on state TV that “no American ship is allowed to enter the Persian Gulf.” Multiple ships have reported a day earlier hearing radio broadcasts purporting to come from the Iranian navy announcing that transit through the waterway was banned, although no official communication was made…. Iran’s semi-official Tasnim news agency, describing the waterway as effectively shut, said on Saturday that the country’s Revolutionary Guard warned ships that transiting Hormuz is not safe. German container liner Hapag-Lloyd AG subsequently said it is suspending transits through Hormuz due to its “official closure.” France’s CMA CGM SA, the world’s third-largest container line, told vessels in the Persian Gulf to take shelter immediately and suspended passage through the Suez Canal.

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Oil Price – March 2, 2026

Chevron Declares Force Majeure as Israel Shuts Leviathan Gas Field

Chevron has declared force majeure at Israel’s Leviathan natural gas field after the government ordered a temporary suspension of production on security grounds, marking the second time in less than a year that hostilities with Iran have disrupted Eastern Mediterranean gas flows.

Israel’s energy ministry directed operator Chevron to shut in Leviathan following joint U.S.-Israeli strikes on Iran and subsequent retaliatory action across the region. Partner NewMed Energy said the suspension followed guidance from security authorities, noting that regulators instructed the consortium to adjust operations in line with evolving security conditions, including the possibility of temporary production halts as the situation develops.

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Anchorage Daily News – March 2, 2026

Texas investor with Trump family ties pursues project to tap North Slope gas

A Texas investor with ties to the Trump family is pursuing a project to unlock natural gas from Alaska’s North Slope using Russian technology. Gentry Beach, 50, said in an interview Friday that a company he owns, America First LNG, aims to install facilities on the North Slope, where gas can be super-chilled into a liquid.

From there, the liquefied natural gas, or LNG, would be shipped to Asian entities using tankers, including specialized ice-breaking tankers, he said. Gas could also possibly be delivered to Southcentral Alaska, he said. “I think you’ll see huge, huge revenue opportunities in Alaska from this, and I think you’ll see lots and lots of jobs,” he said.

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Oil Price – March 2, 2026

BlackRock, EQT To Acquire AES Corp. in $33.4B Deal

A consortium led by BlackRock’s Global Infrastructure Partners (GIP) and EQT AB have agreed to acquire global power utility, AES Corp. (NYSE:AES), for $15 per share in cash, totaling an enterprise value of approximately $33.4 billion. The deal, which includes major pension and investment funds, represents a ~40% premium for AES shares and includes the assumption of debt with a cash equity value of $10.7 billion. AES will continue to operate as a utility, with regulated businesses in Ohio and Indiana expected to remain under local, state, and federal regulation.

The AES acquisition is one of the largest in recent utility and power generation history, highlighting part of a broader “land-grab” for reliable power generation assets. Energean also confirmed that it had been ordered to suspend production at the Karish field. Leviathan is Israel’s largest gas field, supplying Israel, Egypt, and Jordan. In the first nine months of 2025, the field sold 8.1 billion cubic meters of gas to the three markets, with Egypt accounting for more than half at 4.8 Bcm.

 

The Latest TERse Tips

The United States will unveil a phased plan to mitigate the spike in oil prices amid the ongoing conflict in Iran and the wider Middle East, U.S. Secretary of State Marco Rubio said late on Monday as oil prices jumped by 10% following the U.S.-Israel strikes on the Islamic Republic — Oil Price

The Texas Commission on Environmental Quality reported an unexpected flaring event at Valero’s 200,000 bpd Mckee refinery — Quantum Commodity Intelligence*

WhiteHawk Energy, LLC said Monday that its affiliate entered into a definitive purchase and sale agreement to acquire natural gas mineral and royalty interests primarily located in the core of the Haynesville Shale in Louisiana and east Texas — see the press release

A Waymo robotaxi picking up a passenger near Sunday morning’s mass shooting in Austin blocked an ambulance from reaching the scene, according to a bystander video and Waymo and EMS officials have confirmed the video shows the company’s vehicle blocking the ambulance — Axios

Today, Venture Global, Inc. and Trafigura announced the execution of a new, binding agreement for the purchase of approximately 0.5 million tonnes per annum of U.S. liquefied natural gas from Venture Global for five years commencing in 2026 — see the press release

El Paso City Council on Monday authorized the City Attorney to appeal the recent RRC decision to approve a Texas Gas Service rate increase — KVIA

 

Oil & Gas Texas

 

March 2, 2026

U.S. LNG Exports to the World’s Rescue: The Wall Street Journal*

Qatar shut down its natural gas export production on Monday after a drone attack from Iran. Global prices for liquefied natural gas shot up as a result, but not nearly as much as they might have thanks to America’s LNG export boom over the last decade. This is a success that deserves more publicity, especially since the progressive left wants to shut it down. For decades the U.S. was a net importer of natural gas. But the boom in shale fracking that began in the mid-2000s unleashed cheap and abundant natural gas. Cheniere Energy took the risk of converting what had been an LNG import facility into an export platform in 2016. The first exports from the lower 48 states began to flow in February of that year. More companies have followed, which has spurred more natural gas production.

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Houston Chronicle – March 2, 2026

Middle East conflict sends oil prices higher. What it means for Texas.*

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Inside Climate News – March 2, 2026

Dow Asks Texas to Legalize Plastic Pollution From Its Seadrift Complex

Two weeks ago, when Texas sued a massive Dow petrochemical plant over water pollution, state environmental regulators were already considering a novel proposal from the company that would effectively legalize discharges of plastic material from the 4,700–acre complex into waters feeding San Antonio Bay and the Gulf of Mexico.  If approved by the Texas Commission on Environmental Quality, it could set a precedent for authorizing discharges of materials like polyethylene pellets and PVC powder from other plastics manufacturing facilities, legal experts said.

Dow and its subsidiary, Union Carbide Corporation, requested the tweak to its wastewater permit in a 320-page application filed Jan. 4—three weeks after a citizen group announced plans to sue the companies over unpermitted plastic pollution. The TCEQ posted the application for public comment in February.

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KEYT – March 2, 2026

Another Sable Setback: State Judge prevents Texas Oil Company from Restarting Pipeline by Keeping Legal Injunction in Place

On Friday, a state judge kept a legal injunction in place preventing Sable from restarting its pipeline. But while state judges are stopping sable for now… there are broader legal battles over whether federal agencies or California regulators have the ultimate authority. “Despite Trump’s attempt to federalize the pipelines and Sable’s reliance on the Trump administration, the injunction for now remains in place,” said Environmental Defense Center Attorney Jeremy Frankel.

At the end of 2024, the State Fire Marshal gave sable waivers to operate its pipeline. but the Environmental Defense Center challenged those waivers and won a legal injunction. “… And the injunction prevents Sable from restarting the pipelines until they have certain necessary approvals, which they don’t yet have,” said Frankel.”

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Daily Energy Insider – March 2, 2026

Energy Department to expand exports from Texas LNG facility

U.S. Secretary of Energy Chris Wright signed an export authorization last week for a 12 percent expansion in exports at Cheniere Energy’s Corpus Christi liquefied natural gas (LNG) Terminal in Texas.   The authorization allows additional exports of up to 0.47 billion cubic feet per day (Bcf/d) of U.S. natural gas as LNG to non-Free Trade Agreement (non-FTA) countries. The exports will come from Trains 8 and 9 of the Corpus Christi Stage 3 Project, known as the Midscale Trains 8 & 9 Project.

Overall, the Corpus Christi LNG is now authorized to export a total of 4.45 Bcf/d. It is now the second largest LNG export project in the U.S. “In the last ten years, American innovation and President Trump’s leadership transformed the United States into the world’s largest exporter of LNG,” Wright said. “This order helps further strengthen America’s LNG export capacity, delivering peace abroad and prosperity for Americans at home. I could not be prouder to be here today in Corpus Christi, standing alongside the American workers responsible for unleashing American energy dominance.”

 

Oil & Gas National & International

 

S&P Global Platts – March 2, 2026

Persian Gulf tanker rates spike as Hormuz traffic drops on Iran conflict

Freight rates for Persian Gulf crude and product tankers have surged as transits through the Strait of Hormuz slumped amid US-Israeli strikes on Iran, with industry groups urging vessels to avoid the region or be vigilant. Platts, part of S&P Global Energy, assessed the rate to carry a 270,000 metric ton cargo of crude from the Persian Gulf to China at $62.07/mt on March 2, up 35% from the previous assessment and up 461% from the start of the year. Platts assessed the rate to carry a 90,000 mt cargo of refined products from the Persian Gulf to UK/Continent at $68.89/mt, up 19% on the day and up 44% from the start of the year. The five-year averages for both assessments were $13.18/mt and $48.30/mt, respectively.

Tanker industry group Intertanko warned vessels to follow the advice of the Joint Maritime Information Center (JMIC) and the EU naval operation in the area EUNAVFOR Aspides, and to avoid the area as much as possible until the situation is clear, in a March 1 advisory to its members, seen by Platts. “If possible, delay transits through the Strait of Hormuz until the situation is clearer,” Intertanko said.

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The Wall Street Journal – Mrch 2, 2026

The oil market has become used to quickly recovering from geopolitical threats. Could this time be different? Brent crude futures have jumped 8% to roughly $78 a barrel after the Iran conflict began over the weekend. There are two scenarios that could cause a more severe and lasting impact on pump prices. One is a prolonged disruption to the flow of oil tankers through the Strait of Hormuz, through which about 20 million barrels a day of oil—or a fifth of global oil production—transits. Second is serious damage to the region’s oil production or infrastructure, especially the kind that would disrupt spare capacity in Saudi Arabia and the United Arab Emirates.

Markets are used to quickly getting over geopolitical threats because the worst-case scenarios haven’t played out in recent history. The Strait of Hormuz hasn’t been disrupted in a serious way since the 1980s. Attacks on the region’s oil infrastructure—including two separate hits on Saudi Arabia’s oil infrastructure in 2019—have failed to do much damage. “We’ve had seven years of ‘boy who cried wolf’ ” since Iran-allied Houthis attacked Abqaiq, a key Saudi oil-processing facility, said Bob McNally, president of Rapidan Energy Group.

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The Wall Street Journal – March 2, 2026

Iran Strikes Risk a Trump Priority: Low Gasoline Prices*

President Trump took the stage Friday against a backdrop of crude storage tanks at the Port of Corpus Christi in Texas and touted low fuel prices to a small crowd of supporters.  “Slashing energy costs is among the most important actions we can take to bring down prices for American consumers,” he said.

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Dallas Morning News – March 2, 2026

What’s at stake for oil markets as Trump strikes Iran*

President Donald Trump’s decision to strike Iran creates new risks for a significant chunk of the world’s oil supply. The Islamic Republic itself pumps about 3.3 million barrels a day, or 3% of global output, making it the fourth-largest producer in OPEC. But the nation wields far greater influence over the world’s energy supplies because of its strategic location. … Iran’s main refinery, built at Abadan in 1912, can process more than 500,000 barrels a day. Other key plants include the Bandar Abbas and Persian Gulf Star refineries, which handle crude and condensate, a type of ultra-light oil that’s abundant in Iran. The country’s capital Tehran has its own refinery.

For Iran’s overseas shipments, the Kharg Island terminal in the northern Persian Gulf is the main logistical hub. There was an explosion in the island Saturday, according to Iran’s semi-official Mehr news agency, which didn’t provide more details or make any reference to the oil terminal. Kharg Island has numerous loading berths, jetties, remote mooring points and tens of millions of barrels of crude storage capacity. The facilities have handled export volumes exceeding 2 million barrels a day in recent years. US sanctions discourage most potential buyers of Iran’s crude, but private Chinese refiners have remained willing customers, provided they get steep discounts. Tehran relies for its international shipments on a fleet of aging tankers that mostly sail with their transponders deactivated to avoid detection.

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Politico – March 2, 2026

US putting Venezuelan oil proceeds into Treasury account*

Energy Secretary Chris Wright said Friday that the United States has created an account within the Treasury Department where it is depositing profits raised from the sale of Venezuelan crude oil. Wright’s statement to reporters in Texas is the first confirmation that the Trump administration has followed through on plans to move the money it is making selling millions of barrels of Venezuelan crude oil out of a fund it initially set up in Qatar. Democrats have criticized the administration for what they have called the opacity around who controls the money and how it will be spent.

That account is in the name of the Venezuelan national oil company, Petróleos de Venezuela, or PdVSA, Wright said. He said his office has hired third-party auditors to track the flow of profits from the sale of Venezuelan crude. “The first flow went through Qatar. We already have an account in the U.S. Treasury,” Wright told reporters while at an event held at a Corpus Christi LNG facility. “All the funds now flow through an account, not into the ownership of the U.S. Treasury, just in an account, in the name of the Venezuelan national oil company PdVSA.”

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Reuters – March 2, 2026

South Bow plan to revive parts of Keystone XL needs Trump approval, US oil pipeline links*

A proposal led by Canadian company South Bow to revive parts of the cancelled Keystone XL oil pipeline could increase Canada’s crude exports to the U.S. by more than 12%, if it gets a green light from U.S. President Donald Trump and additional links to U.S. refining hubs are built. The new proposal involves a different route through the U.S. than the previous Keystone XL pipeline project cancelled by former U.S. President Joe Biden in 2021 after years of Indigenous and environmental opposition.

 

Utilities, Electricity & Renewables

 

BIC Magazine – March 2, 2026

Grid Wars: Data centers challenge the Gulf Coast’s industrial power backbone

Meta’s $10 billion data center in Richland Parish, officially known as Project Hyperion, broke ground in December 2024 on the 2,250-acre Franklin Farm mega site near Holly Ridge, Louisiana. As of early 2026, the project has entered a high-intensity vertical construction and infrastructure build-out phase, with nearly 4,000 workers erecting structural steel and installing the complex utility systems required to power and cool the campus.

Designed as a 4-million-square-foot complex, the facility will be the largest in Meta’s global fleet and a primary hub for training next-generation AI models. To meet an immense power demand projected to reach 2 GW initially and potentially scale to 5 GW in the years ahead, Meta has partnered with Entergy Louisiana. The collaboration includes three new natural gas power plants and a $1.2 billion transmission expansion, alongside Meta’s commitment to match its electricity use with at least 1,500 MW of new renewable energy.

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KXAN – March 2, 2026

Tesla Prices Climb as the Rest of the EV Market Falls

Tesla is resisting an electric vehicle trend, with prices for all four of its models rising in the used car market even as they fall for nearly every other used EV. Just four months after the loss of the electric vehicle credit on September 30, 2025, used Tesla prices are up 4.3% while the rest of the used EV market has fallen 3.6%.  New electric vehicles prices (excluding Tesla) have similarly dropped 2.3% overall, with a dramatic drop on higher-volume, lower-cost models.

iSeeCars analyzed the list prices of over 1.7 million 1- to 5-year-old used cars and over 4 million new cars sold in September 2025 and January 2026 to identify pricing trends since the EV credit ended last year (Tesla data for new cars is not publicly available, so it was not included in the new car analysis).

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Yahoo! News – February 28, 2026

Sempra Energy Q4 Earnings Call Highlights

• Sempra reported record adjusted EPS of $4.69 for 2025 (at the high end of guidance) and issued updated targets of $4.80–$5.30 for 2026, $5.10–$5.70 for 2027 and a $6.70–$7.50 outlook for 2030.

• The company unveiled a $65 billion capital plan for 2026–2030 (≈95% utility-focused) led by Sempra Texas/Oncor transmission, projecting rate base growth from $57 billion in 2025 to $97 billion by 2030 and saying operating cash flow plus transaction proceeds should eliminate the need for new common equity for the base plan.

• Sempra expects to close the sale of a 45% stake in SI Partners for $10 billion (implying >$22 billion equity value) in Q2–Q3 2026 while retaining a 25% residual stake (~$5.5 billion implied); management said the proceeds are central to strengthening the balance sheet, could enable deconsolidation of SI Partners debt, and would shift the business to roughly 95% regulated earnings after closing.

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Politico – March 2, 2026

North Texas county explores data center moratorium*

As data centers pop up around Texas, a rural county has asked the state attorney general to clarify how much authority local officials have to control their construction. Hood County commissioners have held two votes on imposing a moratorium on data center construction, responding to pressure from residents but turning it down both times. Local officials said they aren’t sure such a ban would be legal, while the developer at the center of the debate said the site is designed to minimize the effects on the surrounding area.

An opinion from the office of Attorney General Ken Paxton (R) would help clarify the county’s authority, although it may not apply statewide. And it’s unlikely to soothe the tensions between developers who are building to suit the fast-growing artificial intelligence industry and landowners who are worried about noise and water use. “You cannot live without water,” said Amy Flynt, who lives near one of the proposed data centers in Hood County and is part of the community group Protect the Paluxy Valley.

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The Wall Street Journal – March 2, 2026

Coal Power’s Comeback Isn’t Spurring New Investment*

Coal-fired power generation is having something of a moment. It isn’t clear just how long it will last. President Trump is trying to throw a lifeline to coal, the once-dominant fuel source for the U.S. power grid that has been in steep decline for more than 15 years. His efforts, combined with the boom in construction of power-hungry artificial-intelligence data centers, could keep coal plants that were once slated for retirement operating years longer than expected.

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Politico – March 2, 2026

Coal is booming. Here’s what it means for climate pollution.*

Falling coal consumption has led to lower U.S. climate pollution over the last two decades. Those days could be over, at least for now. Last year, carbon dioxide emissions from U.S. power plants increased 4 percent, according to a review of EPA data, as coal generation surged during President Donald Trump’s first year back in office. It marks the third-largest annual increase in power sector emissions over the last 20 years — and could foreshadow a future in which climate pollution is increasingly intractable.

While most of the recent jump in coal generation is owed to seasonal factors, like a cold winter and higher natural gas prices, efforts by utilities and the Trump administration to delay or prevent plant closures could buoy coal generation. It comes after years of falling coal use has accounted for the vast majority of U.S. emissions reductions since 2005.

 

Regulatory

 

North Dakota Monitor – March 2, 2026

‘A hell of a lot of royalties’: Supreme Court ruling likely to trigger litigation for oil companies

A recent North Dakota Supreme Court decision could have ripple effects for thousands of oil wells, the mineral owners who receive royalties from them and the oil industry in the state as a whole.  The decision voided one order, issued by the board responsible for oil and gas regulation in North Dakota, on who should receive royalties from a particular well in McKenzie County.

Yet the outcome in the case could have implications for mineral owners who receive royalties from a growing category of oil wells in North Dakota. The attorney who initiated the lawsuit sees the court’s decision as an unambiguous victory for mineral owners he alleges are being underpaid by oil companies.

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Texas Energy Report NewsClips

Wednesday March 4, 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

 

 

Top Stories

 

 

 

 

The Latest TERse Tips

 

Largest energy storage facility statewide gets approved for construction in Everett MA — the proposed facility’s construction is the first part of a wider development project at the former ExxonMobil tank farm site — Boston.com

Evers & Sons Wins Texas Compressor Station Expansion Adding Six Units — Pipeline & Gas Journal

How did a West Texas oilman make Team USA’s Olympic bobsled team? — ESPN

Chemical manufacturers, product makers, and product retailers are gearing up for new state-level restrictions on products sold in stores and online that contain per- and-polyfluoroalkyl substances — Hunton

Trump’s War on Wind Energy Is Costing Him Blue-Collar Union Support — “A lot of my members voted for President Trump in the last election, and they completely turned around on him,” one union chapter president, whose members work on offshore wind projects, said — NOTUS

The oil & gas industry is experiencing a fundamental transformation in how companies access and deploy capital in 2026, and despite strong balance sheets and robust free cash flow generation, the sector is witnessing strategic shifts in funding sources and investment priorities that signal a new era of capital allocation, writes Akin Gump

NY Gov. Kathy Hochul’s budget director all but confirmed that the governor plans to propose changes to the state’s climate law to ease statutory mandates for the costly clean energy transition — City and State

The Houston Chronicle’s map of zombie wells is here

The new book, “Vigil: A Novel,” recounts the story of “a spirit guide that guides the soul of a dying, unrepentant oil tycoon named K. J. Boone through the afterlife, confronting his corporate greed and the environmental damage he caused,” in a “satirical and philosophical exploration of life, death, capitalism and absolution” — an AI recap of the new novel

 

 

 

Oil & Gas Texas

 

MEES – February 27, 2026

Chevron In Exclusive Talks For Iraq’s West Qurna-2*

Chevron has reached a key milestone in its planned entry into Iraq’s upstream. The US major signed two agreements with Baghdad on 23 February for exclusive negotiations to take over the 480,000 b/d capacity West Qurna-2 (WQ-2) oil field, and for and development of the Nasiriyah oil field. The agreements also cover four exploration blocks in Dhi Qar Governorate, and development of the Balad oil field in Saladin Governorate.

Tom Barrack, US ambassador to Turkey and envoy to Syria, attended the signing ceremony alongside Prime Minister Mohammed al-Sudani. Mr Barrack is also overseeing US policy on Iraq following last month’s departure of Special Envoy to Iraq Mark Savaya

 

 

 

 

 

Journal of Petroleum Technology – February 18, 2026

Strategic Placement of Infill Wells in the Midland Basin: Addressing Stress Depletion From Parent Well Production — Study

The growing interest in closely spaced drilling units highlights the need to understand well performance under interference conditions in shale oil reservoirs, particularly in the Permian Basin. Over time, studies of the effect of well-completion optimization on production performance, along with studies on parent/child interference, have become more mature. The geomechanical effects of stress reduction from pressure depletion and its influence on child-well placement remain underexplored, however, and could play an important role in well planning.

This study examined this effect in the Midland Basin to demonstrate the geomechanical effects of production-induced pressure depletion on child wells at representative spacings, derived from basinwide well-spacing statistics. Additionally, the authors consider the relationship between depletion and production performance as a key factor in both early- and late-stage evaluations. They began with hydraulic-fracture-propagation simulations for two representative horizontal wells as parent wells in the Wolfcamp A (WCA) and Wolfcamp B (WCB) formations. This was followed by coupled flow and geomechanical simulations,

 

 

Oil & Gas National & International

 

Reuters – February 27, 2026

Saudi Aramco bringing shale gas revolution to Arabian Desert*

While the kingdom has scaled back its futuristic giga-projects and reversed plans to lift oil capacity, Aramco – the world’s biggest oil exporter – has raised its gas production targets with this $100 billion bet at the centre, as it seeks to become a major global natural gas player. Jafurah, estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion barrels of condensate, is potentially the biggest shale gas development outside the U.S.

 

Reuters – February 27, 2026

US oil output fell in December to lowest since June 2025, EIA says*

 

 

 

 

 

Reuters – February 26, 2026

Motiva buys cargo of Venezuelan heavy oil for March delivery; first purchase since 2019*

 

gCaptain – February 27, 2026

Huge Supertanker Bet Keeps Growing With US Gulf Locked Up*

A shipowner’s once-in-a-generation wager on oil tankers has made it so powerful that it controls an overwhelming majority of supertankers that can collect American oil next month. A push by South Korea’s Sinokor group — with backing from Mediterranean Shipping Co. — to scoop up very-large crude carriers has given it unprecedented control over a big share of the global fleet for immediate hire. The spree has been called “seismic” by a rival and pushed hiring costs to multiyear highs.

The scale of Sinokor’s position became more apparent this week, as it controlled almost all the VLCCs available for hire to load oil from the US Gulf Coast, a major oil-exporting region. Over the next 30 days, it controls all of the 14 ships that could arrive in the US Gulf and aren’t currently holding a cargo, according to estimates Thursday from shipping-analytics platform Signal Ocean.

When expanded to include vessels that do have a cargo on board and which could arrive in the US Gulf over the next 30 days, Sinokor controls about two-thirds of the 24 ships, according to Signal Ocean. Signal’s estimates are consistent with the views of multiple other tanker-market participants, who say Sinokor has a very dominant share of available carriers in that region.

 

 

 

 

 

 

Associated Press – February 26, 2026

What to know about Greenpeace and the oil pipeline lawsuit that threatens its future

Greenpeace is fighting for its life in North Dakota’s court system, where a judge has decided to order the environmental group to pay an expected $345 million to an energy company whose Dakota Access oil pipeline construction drew protests nearly a decade ago. A jury last year found three Greenpeace entities liable for numerous claims and awarded more than $660 million to Energy Transfer in damages, which Judge James Gion cut nearly in half. Once the order he promised Tuesday is formally entered, both sides are expected to appeal to the North Dakota Supreme Court.

The $64 billion, Dallas-based energy conglomerate, which owns and operates thousands of miles (kilometers) of pipelines in 44 states, has objected to the halving of its award. Greenpeace USA has reported cash and assets nowhere near such hefty damages.

 

 

 

Baird Maritime – February 23, 2026

Disinflation tailwind from oil is disappearing: Jamie McGeever*

Oil prices have been a consistent disinflationary force for the US and global economies since mid-2024. That may be about to change. Fuelled by signs of a solid upturn in economic activity at the start of the year and bubbling US-Iran tensions that could spark military conflict, Brent and West Texas Intermediate crude oil futures are the highest in nearly seven months. WTI rose above $67 a barrel on Friday and Brent topped $72, lifting their year-to-date gains to around 15 per cent and nearly 20 per cent, respectively.

More importantly, from an inflation-calculation perspective, oil’s rise means the year-on-year increase is dwindling rapidly. Brent is now only two per cent cheaper than it was a year ago, whereas in early January, it was down almost 30 per cent on the year. In other words, the so-called “base effects” from oil are close to flipping to inflationary from deflationary. Oil’s base effects have been mostly negative since August 2024, exerting downward pressure on annual inflation rates. If that changes, it may be harder for the Federal Reserve to justify interest rate cuts. The Fed targets a “core” annual inflation rate, but more expensive oil raises the cost of producing goods and providing services, some of which is borne by the consumer.

 

 

 

The Times UK) – February 19, 2026

CIA ‘considered backing Ukraine plot to blow up Nord Stream pipeline’

The CIA was aware of and considered supporting the plans of a Ukrainian “sabotage squad” that is alleged to have blown up the Nord Stream gas pipelines from Russia to Germany, according to a report in a respected German news magazine. The attack in September 2022, when at least four explosive charges with the equivalent of more than a tonne of TNT were detonated at the bottom of the Baltic sea, crippled the €18 billion pipeline project, a symbol of Europe’s energy dependence on Moscow.

Der Spiegel reported on Thursday that CIA officers in Ukraine had been approached about the plan in the spring of 2022, during the early days of the full-scale Russian invasion.

 

 

 

The Guardian – February 26, 2026

An oil refinery defined life in this quaint California city. What happens when it’s gone?

Less than 40 miles north of San Francisco, the city of Benicia has the quaint ambience of an American small town, where a white gazebo and sign for a community crab bake mark the approach to a vibrant downtown stretch of restaurants, cafes and antique shops. From many vantage points, it’s easy to forget the city is home to a massive 900-acre oil refinery, its imposing sprawl of stacks, holding tanks and billowing steam hidden from view. But for nearly 60 years, the refinery has loomed over every aspect of life in Benicia, exerting outsized influence on its economy and politics, while posing serious risks to public health.

The Benicia oil refinery, which the Texas oil company Valero bought from Exxon in 2000, thrived in an era when fossil fuels reigned largely unchecked over the US – offering reliable local taxes, well-paying jobs and steady economic opportunities for the many small businesses in its orbit.

 

 

 

 

 

 

 

Utilities, Electricity & Renewables

 

Forbes – March 2, 2026

Data Center Batteries Enter The Iron Age

The spike in power demand from AI data centers over the past two years is not only driving up utility prices but also driving rapid, sustained growth in renewable power, especially solar. That’s despite the Trump administration’s attempts to encourage more use of carbon-based fuels. This has largely been thanks to increased use of battery storage to overcome the intermittent electricity generation of wind and solar.

Last year, the U.S. installed a record 58-gigawatt-hours of battery storage, 30% higher than in 2024, according to the Solar Energy Industries Association. Much of that growth was led by packs using lithium-iron phosphate cells, a chemistry that’s been mastered by Chinese battery giants CATL and BYD. Its advantage has been both lower costs and reduced fire risks compared to the lithium-ion cells used in electric cars. The challenge with that chemistry, however, is that the U.S. lacks a soup-to-nuts supply chain to produce LFP cells domestically.

 

 

 

Ars Technica – February 16, 2026

A fluid can store solar energy and then release it as heat months later

Heating accounts for nearly half of the global energy demand, and two-thirds of that is met by burning fossil fuels like natural gas, oil, and coal. Solar energy is a possible alternative, but while we have become reasonably good at storing solar electricity in lithium-ion batteries, we’re not nearly as good at storing heat.

To store heat for days, weeks, or months, you need to trap the energy in the bonds of a molecule that can later release heat on demand. The approach to this particular chemistry problem is called molecular solar thermal (MOST) energy storage. While it has been the next big thing for decades, it never really took off.

 

 

Clean Technica – February 26, 2026

Despite Political Rhetoric, Conservative Support for Solar Is Solidifying. Here’s Why: Solar Energy Industries Association

A recent poll from Fabrizio, Lee & Associates, chief pollster for President Trump, found that a clear majority of Republicans support expanding solar power in the United States. In the survey, 68% of GOP voters agreed that “we need all forms of electricity generation, including utility solar, to be built to lower electricity costs,” while 70% said they support utility-scale solar deployment when projects use American-made materials. Another poll from Kellyanne Conway’s KA Consulting showed that three-quarters of Trump voters (75%) in Arizona, Florida, Indiana, Ohio, and Texas believe that solar energy should be used in the U.S. to strengthen and increase our energy supply.

Conservative voters are drawing a clear distinction between rhetoric and practical solutions that lower costs. As the Fabrizio memo notes, the idea that solar is inherently at odds with right-leaning voters is not borne out by the data.

 

 

Politico – February 28, 2026

Solar power’s newest friends: MAGA influencers

Environmentalists and solar power proponents have found a pair of surprise allies: Katie Miller and Kellyanne Conway. Miller, the wife of White House deputy chief of staff Stephen Miller, and Conway, the polling guru who led President Donald Trump’s first campaign, raised eyebrows this month when they publicly touted the clean energy source that has come under fire from the Trump administration.

 

 

 

Regulatory

 

 

JD Supra – February 18, 2026

State Energy Regulatory Approaches to Powering Data Centers: Pillsbury Winthrop Shaw Pittman

The rapid expansion of data centers—driven by cloud computing, artificial intelligence and hyperscale digital infrastructure—has transformed what were once localized land-use and utility ratemaking concerns into issues of statewide and federal economic and energy policy. While our recent commentary focused on an emerging federal regulatory framework to power data centers, including in pending proceedings before the Federal Energy Regulatory Commission (FERC), states are simultaneously moving to legislate, regulate, incentivize, and in some cases constrain data center development. These state-level actions are ever more consequential to the economics of data center projects, impacting everything from site selection and interconnection timelines to long-term operational risk. …

This article analyzes key emerging themes across states rather than cataloging any individual state’s statutes or dockets. State policy frameworks are evolving to address the scale and energy impacts of data center growth, even while ongoing considerations occur at the federal level to redefine the boundaries of federal versus state authority over powering data centers. As a result, until FERC intervenes and successfully defends its pending new rules in federal courts, these state-level frameworks will materially shape data center projects.

 

 

JD Supra – February 26, 2026

Staying With the Current: Key Texas Water Decisions in 2025: Haynes Boone

In 2025, the Texas Supreme Court issued several decisions with meaningful implications for Texas water law. The decisions provide guidance on ownership of produced water, agency discretion during wastewater permitting and appellate jurisdiction for river authorities. The decisions are particularly relevant for oil and gas operators, water utilities, developers, industrial and manufacturing facilities, landowners, agricultural producers and other entities navigating Texas water law.

Produced Water — In Cactus Water Services, LLC v. COG Operating, LLC,¹ the Court addressed ownership of produced water that was generated incidental to oil and gas production. The Court held that a mineral lease granting the right to produce oil and gas also conveys the produced water necessarily generated by those operations unless there is an express reservation in the conveyance document.