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Permian Oil Producer Reports 80 Percent Profit Surge in Q3 Despite Production Decrease
Inflated oil and gas prices are nearly doubling profits for some producers, including DiamondBack Energy, which profited $1.2B in Q3, a more than 80% surge from the year before, reports the Houston Chronicle. While revenue has spiked dramatically, DiamondBack Energy, among other oil and gas producers, also reported a decrease in production compared to Q3 of…
Rural Communities Across Texas are Betting Big on Clean Energy
Land owners and farmers in rural communities across Texas are reaping the economic benefits of leasing their land for the development of clean energy projects, and are receiving hundreds of thousands of dollars in land-lease payments each year, reports CNN. The projects have also significantly boosted community tax revenue, allowing rural schools to build new facilities and…
Texas Will Need “More of Everything” to Support Growing Population
Texas' population is growing rapidly, and in order to support higher energy demand, the state will need to invest expanding transmission, not just generation, according to the Texas Comptroller of Public Accounts. The state will also need to expand renewable energy resources to combat utility costs, which have increased as a result of rising natural gas…
Red States May See Some of the Largest Benefits from the IRA
Red states like Texas, Nebraska and Oklahoma are some of the nation's largest producers of renewable energy, and are poised to see major benefits from the Inflation Reduction Act, reports Politico. Despite open opposition, the bill is expected to boost industries which have already transformed economies across the nation, like clean energy, carbon capture, clean hydrogen, advanced…
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