War, gas prices, and AI are fueling a Texas pipeline boom

As ongoing threats to oil tankers in the Strait of Hormuz drive petroleum prices to near-record highs, energy companies in West Texas are enjoying one windfall—and hoping to take advantage of another.

Oil that just six months ago sold for $60 a barrel now goes for nearly $100, and producers are pumping at record levels. But when that black gold is pulled from the ground in the Permian Basin, a mix of gases bubbles up alongside it. The region lacks the infrastructure to deal with all that natural gas. There aren’t enough pipelines to ship all of it off to power plants and petrochemical plants, so companies are having to pay to have the gas removed.

Click here to read the full article
Source: Texas Monthly

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.