Texan Tumbles in Tank Tolls: Gas Prices Play See-Saw

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Daily Bulletin

Futures Curve

Lone Star Stories

Gas prices have decreased in most Texas metro areas surveyed by AAA, with the state average falling to $3.44, partly due to a decline in the price of crude oil. Despite the current favorable trajectory, the ongoing hurricane season might disrupt gas price trends, potentially leading to brief price spikes if storms impact oil and gas operations along the Gulf Coast.

The EMIT telescope, orbiting with the International Space Station, detected 22 significant methane flares in Texas during a hotter-than-usual June, with Carbon Mapper indicating a connection between the methane releases and local temperatures.

Reader Question of the Day

How is carbon dioxide used in enhanced oil recovery and what are its environmental implications?

Carbon dioxide (CO2) is used in enhanced oil recovery (EOR) as a technique to boost the amount of oil that can be extracted from reservoirs. In this method, CO2 is injected into the oil reservoir. Once inside, it mixes with the oil, making the oil expand and become less viscous, or "thinner." This makes it easier for the oil to flow to the production wells, allowing more oil to be recovered than with traditional methods.

However, there are environmental concerns to consider. On the positive side, using CO2 for EOR can help store some of the CO2 underground, reducing the amount of this greenhouse gas released into the atmosphere. This is called carbon capture and storage. But, if not managed properly, there's a risk of CO2 leakage from the reservoir back to the surface, which could contribute to global warming. It's essential to ensure that the CO2 remains securely stored to maximize the environmental benefits.

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