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Millions of Texas Still Without Power Amid Cold Snap, Energy Crisis
Posted
February 18, 2021
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0:48Now PlayingThe sprawling blackouts that plunged Texas into chaos in the midst of an historic cold blast are easing, but the energy crisis that the outages sparked continues.
About 490,000 homes and businesses in the state were without electricity Thursday morning as power plants gradually come back online, according to Poweroutage.us, which aggregates data from utility websites. That’s down from more than 3 million on Wednesday.
Top U.S. liquefied natural gas exporter Cheniere Energy Inc. said it’s temporarily cutting gas and electricity consumption to help the Texas power grid, a decision made ahead of Abbott’s order.
The economic fallout from the crisis is broad and potentially lasting. U.S. oil production has plunged by a record 40%, while fracking in the Permian shale plays has gone dark. Several companies in the oil industry have claimed force majeure, a warning to customers that they won’t be able to meet deliveries under contract. Repercussions are being felt in the global crude market.
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