As the U.S. oil and gas industry slowly appears to be getting back on track, ramping up production in line with demand, the effects of the Texas storm earlier this year appear to have hit production levels harder than originally thought according to new figures.
Aging infrastructure is the reason for President Biden’s new national infrastructure plan. However, this comes after years of neglect which has cost the oil and gas sector billions of dollars, as well as wreaking havoc on both the environment and communities relying on vital energy supplies.
Every year, extreme weather hinders energy distribution across the U.S. During California’s hot summers we see wildfires halting energy production from the state’s aging electrical infrastructure. This is largely because it is common practice to wait until a component fails within the system for it to be replaced, rather than preemptively investing in better structures.
This February, the electrical grid shut down and refineries halted production as Texas was hit hard by a winter storm which saw freezing pipes and no energy supply for heat and water to many houses across the state. Many were left to rely on generators to heat their houses to escape freezing temperatures for up to a week.
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Source: Oil Price
