.The Texas Energy Report

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.The Texas Energy Report

Pedernales Electric Co-Op CEO Honored as Best By Austin Publication

October 4, 2019

The CEO of Central Texas’ Pedernales Electric Cooperative, the largest distribution cooperative in the US, has been named one of “Austin’s Best CEOs” by Austin Business Journal among non-profits.

Since taking the post in late 2017, Julie Parsley has fostered collaboration among the executive team, the publication wrote in an October 3rd article, and “hired an executive vice president role to oversee public affairs, communications, community engagement and legislative affairs” to increase transparency.

Ms. Parsley has an extensive legal background and was the first female solicitor general of Texas (going before the US Supreme Court and the Texas Supreme Court) and has been a member of the charitable Texas Bar Foundation for 20 years, while maintaining a commitment to public service, including volunteering for the Central Texas Food Bank and other charities….
 

U.S. Crude Oil Exports Set Record

By Alex Mills

 

October 3, 2019

Even though crude oil prices have been soft recently, crude oil production and exports from the U.S. continue to grow.

Crude oil on the New York Mercantile Exchange closed at $52.64 Wednesday another daily decline – the seventh consecutive – and down about $8 from several weeks ago following the bombing of an oil facility in Saudi Arabia.

The decline in price can be attributed to an anticipated slow down in economic growth signaled by recent data regarding manufacturing, which has triggered a decline of almost 1,000 points on the DOW industrial average last week. The trade tension between U.S and China has added to the negative views of the economy.

Add in increased crude oil production around the world, and you have a recipe for softer oil prices.

U.S. oil production continues to increase finding new markets around the world.

The Energy Information Administration (EIA) reports exports of crude oil increased to average 2.9 million barrels per day (b/d), an increase of 966,000 b/d from the first half of 2018. Also in the first half of 2019, U.S. crude oil exports set a new record-high monthly average of 3.2 million b/d in June.

The number of U.S. crude oil export destinations also continued to grow, and now exceeds the number of U.S. crude oil import sources, EIA said.

Asia was the largest regional destination for U.S. crude oil exports—1.3 million b/d in the first half of 2019—followed by destinations in Western Europe, which received 824,000 b/d. U.S. crude oil exports to North America, which almost exclusively go to Canada (the largest single destination for U.S. crude oil exports globally) did not change much from the first half of 2018 to the first half of 2019, averaging 458,000 b/d…..
 

Texas Retail Electric Provider Brand Trust Is Declining, 25% of Consumers Ready to Switch: Research Study

September 29, 2019

One out of four Texas residents are planning to switch retail electric providers (REPs) amid a decline in overall brand trust among such providers, with AEP and CenterPoint among the more preferred brands, according to a new research study….
 

New Report from Texas Coalition for Affordable Power Marks 20th Anniversary of Electric Deregulation Law: Press Release

September 28, 2019

In 1999, with the enactment of Senate Bill 7, Texas began its historic march toward the deregulation of retail electricity. Although not immediate in effect, the state’s groundbreaking legislation eventually ushered in some of the most significant changes ever for its power consumers.

No longer would giant, vertical-integrated utilities maintain their monopoly grip on all home electricity service. No longer would Austin political appointees determine directly the price of air conditioning and lighting in all parts of Texas.

In commemoration of that anniversary, the Texas Coalition for Affordable Power has released an updated version of its signature report, Electric Deregulation in Texas: A Market Chronicle. The book, organized chronologically in a year-by-year fashion, is available through free digital download. Go to the TCAPtx.com for more information……