Oil and Gas Industry

Gabriel C. Pérez/KUT

From Texas Standard:

Carbon emissions have been down in recent weeks because of the pandemic because far fewer people are driving or flying. But that has also meant less demand for fuel, and less revenue for oil and gas companies. As a result, some European-based companies are investing more of their resources into renewable energy production. But American oil and gas outfits are not.

NASA/Public Domain

From Texas Standard:

Wednesday marks the 50th anniversary of Earth Day. When it was first celebrated in 1970, more than 20 million people took to the streets and that action spurred the passage of environmental laws and regulations that are still in effect today. Large gatherings aren't possible this year because of COVID-19, but some groups are finding other ways to celebrate.

Laborerers work on the helipad of an offshore oil platform in the Gulf of Mexico.
Gabriel C. Pérez / KUT

Coronavirus hit the global markets this week, sending stocks reeling and pushing economies toward possible recession. In Texas, the view could be even bleaker thanks to plummeting oil prices. Analysts say the state can expect layoffs, bankruptcies and state revenue shortfalls in the months ahead if prices remain low.

Gas is burned off from an oil well in West Texas.
Gabriel C. Pérez / KUT

The amount of natural gas that oil companies burn off in Texas as a waste product could power every home in the state. It’s an industry practice known as “flaring,” and as it grows, so does pollution and waste associated with oil extraction. So, last week, a top state oil and gas regulator produced a report on it.