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The tremor started in an area that regulators watch closely.
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The Railroad Commission of Texas has been called one of the most consequential climate-related offices in the country. Democrat Luke Warford is challenging incumbent Wayne Christian for his seat.
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Critics are skeptical about whether the new rules by the Railroad Commission will prevent another catastrophe like the power grid disaster in February 2021.
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The initial grant will allow Texas to plug a fraction of the state’s approximately 7,400 documented abandoned oil and gas wells.
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Texas Comptroller Glenn Hegar singled out financial firms under a 2021 state law that prohibits most state entities from contracting with companies that have reduced or cut investments in the oil and gas industry.
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An investigation by the Associated Press looked into 533 “super emitting” oil and gas facilities in the Permian Basin.
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The federal agency is considering designating the Permian Basin as a “non-attainment area,” meaning it could face tougher emissions regulations.
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The cost of electricity in Texas is tightly tied to the price of natural gas, which has more than doubled since Russia invaded Ukraine in late February.
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The Tall City’s reliance on oil and gas makes it particularly vulnerable to high inflation.
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There hasn't been much drilling in Texas since the start of Russia's invasion of Ukraine, but there are early indications that an extended boom is on the way.