Texas Energy Report NewsClips
Texas Energy Report NewsClips
Thursday December 4, 2025
Asterisk (*) denotes news stories that may be inaccessible because portions are behind a paywall
Good morning! Here are today’s Texas Energy Report NewsClips
Oil prices firmed on Thursday after Ukrainian attacks on Russia’s oil infrastructure signalled potential supply constraints, and stalled peace talks tempered expectations of a deal restoring Russian oil flows to global markets, though weak fundamentals kept gains limited.
West Texas Intermediate rose 45 cents, or 0.76%, to $59.40.
Brent crude rose 41 cents, or 0.65%, to $63.08 at 0659 GMT.
Ukraine hit the Druzhba oil pipeline in Russia’s central Tambov region, a Ukrainian military intelligence source said on Wednesday, the fifth attack on the pipeline that sends Russian oil to Hungary and Slovakia. The pipeline operator and Hungary’s oil and gas company later said supplies were moving through the pipeline as normal.
“Ukraine’s drone campaign against Russian refining infrastructure has shifted into a more sustained and strategically coordinated phase,” consultancy Kpler said in a research report, adding that strikes now target refineries in repeated cycles, aiming to keep key assets from stabilising.
Top Stories
Reuters – December 4, 2025
Exxon to permanently shut one steam cracker in Singapore from March, sources say*
ExxonMobil plans to wind down from March operations at the older of its two steam crackers on Singapore’s Jurong Island, four sources familiar with the matter said, part of a global petrochemicals sector trend to reduce capacity amid industry losses. The shutdown of the plant, which opened in 2002, is expected to be complete by June, two of the sources said. The sources asked not to be identified because they were not authorised to speak to media.
The imminent shutdown of the U.S. major’s first cracker in the Asian oil trading hub comes as chemical producers grapple with losses from overcapacity led by China, the world’s largest consumer of petrochemicals used to make products ranging from plastics and clothes to shoes and cars. “As a matter of practice, we do not comment on market rumors or speculation,” an ExxonMobil spokesperson said in response to Reuters’ queries.
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KTRK – December 3, 2025
New report shows data centers could strain Texas’ grid this winter
A new report shows a growing industry in Texas could put a strain on the state’s power grid this winter. Winter power problems have been on Houston resident, Dolores Hidalgo’s mind ever since the winter storm in 2021. In February 2021, an University of Houston report shows more than two-thirds of all Texans lost power for nearly three days during a winter storm.
“I think about it every year,” Hidalgo said. “I get worried that we’re going to lose power and it’s going to be for weeks, and we’re going to be cold.” Five years later, the North American Electric Reliability Corporation has a new assessment on how prepared the state’s grid, ERCOT, is this winter. The report shows ERCOT could be strained this winter due to data centers. They’re facilities that house IT infrastructure systems.
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Reuters – December 3, 2025
Chevron to spend up to $19 billion next year in focus on US, Guyana oil production*
Chevron said on Wednesday that capital expenditure for 2026 will be between $18 billion and $19 billion as the oil major focuses on production in the U.S. and investments connected to a recently-acquired oil stake in Guyana. The range is at the low-end of previous guidance that put annual investment between $18 billion and $21 billion through 2030. The second-largest U.S. oil producer outlined a plan last month to cut costs, operate more efficiently and increase returns to investors through the end of the decade.
“Our 2026 capital program focuses on the highest-return opportunities while maintaining discipline and improving efficiency, enabling us to grow cash flow and earnings,” Chevron CEO Mike Wirth said in a statement. About $17 billion will be spent on upstream, roughly $9 billion of which is allocated to the United States. Chevron said it expects to spend $6 billion on American shale and plans to produce more than 2 million barrels of oil equivalent per day from the country next year. Spending on offshore production will total about $7 billion to support Guyana, projects in the Eastern Mediterranean and production from the U.S. Gulf of Mexico.
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Reuters – December 3, 2025
High and rising natural gas costs may spur fresh climb in US coal use: Gavin Maguire*
Benchmark U.S. natural gas prices are ending 2025 in the manner that they began – with a strong rally. And that’s bad news for people hoping for further cuts to U.S. coal use. Between January and March of this year, U.S. gas prices jumped by a third due to a cold snap and strong LNG exports, which in turn sparked higher U.S. coal-fired power generation as utilities cut costs by burning cheaper coal instead of gas. A similar pattern seems to be unfolding as 2025 winds down, with coal-fired generation on the rise and gas-fired output getting pared back as gas prices approach three-year highs and strain the budgets of power suppliers.
Once again, cold temperatures and record exports of liquefied natural gas are major drivers of the gas-to-coal switching, although increased backing of the coal sector in Washington, D.C. is also underpinning coal consumption. As coal-fired generation emits around 75% more carbon dioxide (CO2) per kilowatt hour (kWh) of electricity than gas-fired generation, per data from Ember, U.S. power sector emissions are bound to climb with rising coal output.
The Latest TERse Tips
President Trump on Wednesday pardoned Texas Democratic Rep. Henry Cuellar and his wife Imelda, who had faced federal bribery, money laundering and foreign-agent charges — Cuellar, 70, was an outspoken critic of former President Joe Biden’s border policies before the couple was indicted last year for allegedly accepting $600,000 from Azerbaijan’s state-owned oil company and a Mexican bank — New York Post — Also see: Longtime Cuellar aide hopes Trump pardon will lead to dismissal of his conspiracy case — San Antonio Express-News*
Fitch Ratings has cut its 2025-2027 oil price assumptions, reflecting market oversupply — Fitch
A Texas district court was wrong to deny environmental groups the right to intervene in a case to defend an endangered bird after the Trump administration allowed a Biden-era rule over the species to be wiped out without proper review, an appellate brief said — “If this decision is allowed to stand, any federal rule could be challenged by an industry or advocacy group (of any ideological stripe) and be stripped from the books by judicial decree whenever a new administration decides to no longer defend it,” the Center for Biological Diversity and Texas Campaign for the Environment said — Bloomberg*
Citgo Petroleum has been carrying out startup work at the west plant of its 175,550 b/d Corpus Christi refinery over several days, the company said in a community alert that warned of potential flaring — Morningstar
Acting Texas Comptroller Kelly Hancock today released the results of a Comptroller’s office study examining the impact of the Port of Beaumont on the Texas economy — total trade through this port accounted for $23 billion in trade in 2024, an increase of 182 percent from 2015 levels — see the press release
Update: Judge approves sale of Houston-based Citgo to Amber Energy — J.P. Duffy is an international arbitration partner at the Houston-based law firm Bracewell. He said the Venezuelan government faced mounting debts, as the country grappled with falling oil prices and political instability — KUHF
The University of Texas at Austin’s new Engineering Discovery Building will be named in honor of Autry C. Stephens, the oil and gas pioneer and UT alumnus whose contributions have shaped the energy industry in Texas — Virtual Builders Exchange
The Trump administration is floating the idea of using backup generators to add power to the electricity grid, in a bid to lower Americans’ utility bills — Energy Secretary Chris Wright asserted on Tuesday that the country’s backup generators could contribute roughly 35 gigawatts of electricity, or enough to power tens of millions of homes — Politico*
Oil & Gas Texas
Bloomberg – December 3, 2025
Chevron’s Capital Budget Lands on Low End in Push for Cash*
Chevron Corp. expects to spend less than previously planned next year as the Texas oil giant focuses on profits over production growth with crude prices near the lowest since 2021. Capital expenditure will be about $18.5 billion next year, with nearly a third to be spent on US shale operations in Texas, New Mexico, Colorado and North Dakota, the company said in a statement. The sum is at the low end of guidance published last month and less than the $19 billion to $22 billion range Chevron announced after buying Hess Corp. in July.
After completing several multi-year growth projects, Chief Executive Officer Mike Wirth has said Chevron can maintain its dividends and stock buybacks through the current period of low oil prices. By reining in spending on new projects, the company plans to harvest free cash flow, which it expects to increase 14% annually to more than $30 billion by 2030.
“Our 2026 capital program focuses on the highest-return opportunities while maintaining discipline and improving efficiency, enabling us to grow cash flow,” Wirth said in the statement. Earlier this year, Chevron said it was intentionally dialing back growth in the Permian to boost returns. Previously its biggest growth asset, the basin will “plateau” at about 1 million barrels of oil equivalent a day, Bruce Niemeyer, the company’s shale president said in an interview in July.
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Hydrocarbon Processing – December 3, 2025
Valero plans CDU upgrades at Port Arthur refinery in February
Valero Energy plans to perform upgrades to the large crude distillation unit (CDU) at its 380,000-bpd Port Arthur, Texas refinery in February, said people familiar with the plant’s operations. A Valero spokesperson did not reply on Tuesday to a request for comment about the refinery’s maintenance plans.
Valero plans to perform a series of upgrades to the AVU-146 CDU beginning in February aimed at boosting the unit’s capacity from an average of 235,000 bpd to 260,000 bpd, the sources said. Among the improvements will be upgrades to processing of bottoms – heavy, gunky residual crude oil that is usually sent to the coker or used in asphalt, the sources said. The refinery may be able to keep AVU-146 in operation while the upgrades are underway, the sources said.
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Politico – December 3, 2025
Documentary spotlights New Mexico oil pollution case*
A new documentary aims to shed light on alleged harms the oil and gas industry in New Mexico causes residents as a novel pollution case looms before the state’s Supreme Court. The film, called “The Land of Sacrifice,” focuses on the effects that emissions and other activities associated with oil and gas production have amid New Mexico’s fracking boom. It highlights plaintiffs in Atencio v. State, a lawsuit filed by a group of Native Americans, environmental groups and other residents who live near the state’s oil-producing regions. New Mexico, which includes part of the massive Permian Basin, is now the second-largest oil-producing state in the United States.
“We had a tsunami of oil and gas development,” Daniel Tso, a former Navajo Nation Council delegate and a plaintiff in the case, says in the film. “No place to run, no place to take shelter. It’s here.” The new film by Annie Ersinghaus was released this week and is available to watch for free online. Screenings are also planned at select cities in New Mexico. It was produced with funding from the New Mexico Documentary Incubator Grants program.
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Pipeline & Gas Journal – December 3, 2025
Esentia Energy to Boost Mexico Gas Pipeline Capacity 50% by 2030
Mexico’s Esentia Energy plans to expand its natural gas transportation capacity by 50% within five years, betting on rising demand as industrial use and U.S. imports increase, CEO Daniel Bustos said. The company, which raised $457 million in a late-November IPO, will use part of the proceeds to fund the expansion and reduce debt. Esentia plans to add 660 million cubic feet per day of capacity by the third phase of its development plan.
Esentia operates more than 2,000 kilometers (1,243 miles) of pipelines in its Waha or Wahalajara System, which delivers low-cost gas from Waha, Texas, to industrial hubs in central and western Mexico, including Guadalajara.
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Miami Herald – November 29, 2025
After Deepwater Horizon, some worry oil industry’s new tech could threaten Florida
Early one morning in March 2010, Captain Gary Jarvis cast a heavyweight line into the Gulf of Mexico from the deck of his 57 foot charter boat, Backdown 2. The sun hadn’t yet risen. But bright white spotlights from the 25-story oil rig nearby illuminated the dark waves and attracted the fisherman’s prize — yellowfin tuna. Jarvis and his two deckhands spent hours reeling in the high-dollar sportfish before turning the boat home toward Destin, Florida. It had been a good fishing day at the rig, and Jarvis assumed there would be many more. That oil rig was BP’s Deepwater Horizon. Less than a month later, the rig exploded and sank in the oil spill that would become known by the same name. The disaster killed 11 people and injured 17. Over 200 million gallons of Louisiana crude oil flowed uncontrolled into the Gulf for 87 days before the well was plugged. Oil slicks spread thousands of miles, fouling beaches in all five Gulf states in what remains the largest marine oil spill in American history.
Fifteen years later, Gulf communities have largely moved on. After a multi-billion dollar settlement from BP and regulatory reform, the nationwide outcry over industry recklessness quieted to a murmur. The white-sand beaches, now cleaned up, draw millions of tourists once again. But oil companies keep drilling — deeper than ever before—and they are also looking east. President Donald Trump’s “drill, baby, drill” philosophy now has some of the industry’s biggest players ready to bid on leases closer to Florida’s coast. The administration announced on Thursday it plans to open part of the Eastern Gulf, off limits for decades, to oil and gas exploration.
Oil & Gas National & International
The Wall Street Journal – December 3, 2025
Trump Administration Lowers Fuel-Economy Rules for Carmakers*
President Trump on Wednesday said he plans to roll back federal fuel-economy rules for passenger vehicles, his latest move to relieve the U.S. auto industry from mandates to build cleaner, more-fuel efficient cars. The administration’s move comes months after Congress and the Trump administration this summer essentially nullified the mandates—known as Corporate Average Fuel Economy rules, or CAFE—by eliminating fines for violating them.
Under the changes, the federal government would require an average of 34½ miles a gallon for vehicles by model year 2031, down from the 50.4 miles a gallon standard set by the Biden administration. It also does away with a system in which automakers can buy credits from competitors to offset fines, a setup that proved to be a boon for electric-vehicle maker Tesla. Lowering the standards would enshrine into federal law more lenient miles-per-gallon targets for automakers. It could make it harder to return to tougher standards since doing so would require more than simply reinstating penalties.
“We’re protecting our auto workers, and we’re making it easier for every family to afford high-quality cars,” Trump said in the Oval Office. “In other words, we’re bringing automobiles back and the manufacturing of automobiles back into this country.” The proposal must undergo an official rule-making process before being adopted. The changes would apply to all model-year passenger cars and light trucks from 2022 to 2031. It would reclassify small SUVs and so-called crossovers, which are SUVs built on car-like chassis, as passenger cars instead of light trucks.
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Pipeline & Gas Journal – December 3, 2025
Enbridge Projects 2026 Profit Growth on Strong Gas, Power Demand
Enbridge has forecast higher core profit for 2026, as the Canadian pipeline operator expects to benefit from strong demand and new projects entering service, the company said on Dec. 3. The company is pushing ahead with expanding its pipelines as U.S. power demand is expected to hit record highs this year and next, fueled by technology firms pouring billions to build data centers to tap the artificial intelligence boom.
“We have approximately C$8 billion of new projects entering service in 2026 across our franchises…,” CEO Gregory Ebel said in a statement. The Calgary-based company completed the acquisition of Dominion Energy utilities — East Ohio Gas, Questar Gas and Public Service Co of North Carolina — last year in a $14 billion deal, including debt.
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Bloomberg – December 3, 2025
Saudis Not Afraid to Cancel Costly Vision 2030 Projects*
Saudi Arabia is open to canceling some projects in its Vision 2030 program, the kingdom’s finance minister said, in some of the strongest public comments yet on the country’s willingness to backtrack on costly developments. “We have no ego — absolutely no ego,” Finance Minister Mohammed Al-Jadaan said in a briefing in Riyadh. “If we announce something and we need to adjust it, accelerate it and make it a priority more than others, or defer or cancel it, we will without blinking.”
Saudi officials have widely telegraphed an ongoing review of Crown Prince Mohammed Bin Salman’s multi-trillion dollar economic transformation plan that includes dozens of projects from desert ski slopes to gaming cities. But comments until now had mostly focused on delays or downsizing, rather than cancellation. The hardening in tone aligns with the newly-released Saudi 2026 budget statement, which puts emphasis on the push to spend more efficiently amid challenges stemming from low oil prices and persistent budget deficits. “Spending efficiency doesn’t mean cutting spending,” Al-Jadaan said. “It means decreasing spending on some items to increase on others.”
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The Hill – December 3, 2025
Why Big Oil is panicking over accountability: David Bookbinder, environmental attorney
American consumers shouldn’t have to pay twice for the damage done by multinational oil and gas companies — once through the harm their products cause to our health and our planet, and again when those same companies use lawsuits filed by local communities as an excuse to hike prices at the pump. That’s how these billion-dollar companies work — and the industry’s fake outrage over it says everything.
Recently, The Hill published an opinion piece from an industry-backed front group calling itself the “Consumer Choice Center,” claiming I support imposing a back-door “carbon tax” through climate liability lawsuits. That is not true. What I said is that the multinational oil companies, not the public, should be the ones to pay for the damage their products cause.
Another publication had to run a correction because they ran an op-ed from an energy industry advocate that falsely claimed I am currently representing Boulder County in their climate lawsuit against Suncor and ExxonMobil. They also implied that the Environmental Integrity Project is involved in climate liability litigation, which is not true. But the pattern is clear: industry-backed pundits have been misrepresenting my words, and their spin machine has gone into overdrive.
Utilities, Electricity & Renewables
KXAN – December 3, 2025
ERCOT proposing rule changes ahead of electricity demands
As energy demands skyrocket in Texas, it’s raising new concerns in reliability on the state’s power grid. According to a recent report from CNBC, Electric Reliability Council of Texas, or ERCOT, has received several requests of more than 220 gigawatts from “large electronic loads” back in November. That’s any load that’s above 75 megawatts where at least half of the power is used for computing essential data centers.
At least 73% of those requests come from projects connected to data centers. According to documents outlining a planned presentation to an ERCOT board meeting next week, these facilities went offline at least 26 times during normal voltage disturbances since 2023.
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Latitude Media – December 3, 2025
ERCOT’s large load queue has nearly quadrupled in a single year
Texas grid operator ERCOT has about 226 gigawatts of large load customers in its interconnection queue as of November. That’s nearly quadruple what it reported at the end of 2024, at 63 GW. About 77% of that load comes from large data centers aiming to connect to the power grid by 2030, ERCOT said in a filing ahead of its board meeting next week.
The interconnection requests far exceed the new power generation that ERCOT expects will come online in the coming years, fueling concerns about reliability. Between 2024 and 2025, about 23 GW of new generation capacity was added to the grid, ERCOT reported. Another nine GW is slated for early 2026.
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KVUE – December 3, 2025
Austin businesses boost power grid by selling rooftop solar to Austin Energy
Businesses in Austin are aiming to boost the power grid. A new program will allow commercial property owners with solar panels on their roofs to sell power to Austin Energy. On Wednesday, Austin leaders celebrated the first business that has taken advantage of the Solar Standard Offer project. So far, solar system owner Radial Power and contractor Axis Solar have installed a total of 812 solar panels on a warehouse rooftop.
Officials said the addition is good for the businesses and customers throughout the area. “The Solar Standard Offer is an industry leading program that Austin Energy launched this year,” Stuart Reilly, general manager of Austin Energy, said. “One of the most innovative aspects of the Solar Standard offer is its ability to drive local solar generation without increasing costs to our customers.”
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The Santa Rosa Press Democrat (CA) – December 3, 2025
Plans for huge new oceanfront battery storage plant are withdrawn following Moss Landing fire
The Texas company that owns the battery storage plant at Moss Landing that burned in a spectacular fire in January, raising questions nationwide about the safety of the fast-growing renewable energy technology, has withdrawn plans to build a similarly-sized battery storage plant in the adjacent county. Vistra, based in Dallas, has notified the California Energy Commission that it is dropping efforts to secure state permits to construct a 600-megawatt battery storage plant in Morro Bay, a coastal town in San Luis Obispo County.
The proposed plant would have been one of the largest in the United States with thousands of lithium-ion batteries capable of storing enough electricity for 450,000 homes. Vistra did not announce the decision to halt the project publicly or notify city leaders, despite having advocated for it over the past four years. The information became public in recent days when local media outlets in San Luis Obispo County confirmed with the energy commission that the company had withdrawn the project.
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Utility Dive – December 2, 2025
Americans lost more power last year than any year in previous decade: EIA
U.S. electricity customers experienced an average of 11 hours of power outages in 2024, nearly twice as many as the annual average across the previous decade, according to a new report from the Energy Information Administration. Hurricanes accounted for 80% of those lost hours, with most of last year’s outages resulting from major weather events like hurricanes Beryl, Helene and Milton, EIA said in the report released Monday.
“Interruptions attributed to major events averaged nearly nine hours in 2024, compared with an average of nearly four hours per year in 2014 through 2023,” EIA said. “Service interruptions that aren’t triggered by major events routinely average about two hours per year.”
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CNBC – December 3, 2025
How families could get stuck with higher electric bills if the AI data center boom goes bust
Data centers that haven’t been built yet are driving up electricity prices and could leave consumers on the hook for expensive power infrastructure if demand projections are wrong. The race to build facilities that provide artificial intelligence has fueled a boom in data centers that train and run large language models, like OpenAI’s ChatGPT and Anthropic’s Claude. The boom has upended a utility industry that grew used to 20 years of no increase in electricity demand.
But now, some investors and energy market analysts are questioning whether the AI race has turned into a bubble, one that would prove expensive to unravel as new transmission lines and power plants are built to support those data centers. Consumers served by the largest electric grid in the U.S. will pay $16.6 billion to secure future power supplies just to meet demand from data centers from 2025 through 2027, according to a watchdog report published this month.
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Utility Dive – December 3, 2025
U.S. data center power demand could reach 106 GW by 2035: BloombergNEF
U.S. data center power demand could reach 106 GW in 2035, BloombergNEF said Monday in one of the more aggressive load growth estimates to date. The U.S. had about 25 GW of operating data centers in 2024, Bloom Energy said earlier this year. BloombergNEF’s latest forecast is 36% higher than its previous prediction, released in April. The jump is due in part to the higher average size of the 150 significant U.S. data center projects announced in the past year, over a quarter of which are larger than 500 MW, BNEF said.
The Energy Information Administration, which tracks demand for the federal government, generally only publishes detailed projections out two or three years, and few other analyses have attempted firm forecasts as far out as 2035.
Regulatory
The Wall Street Journal – December 3, 2025
Climate Change Study Predicting Dire Economic Damage Is Retracted*
A widely cited study on economic damage from climate change was retracted Wednesday following criticism from peers. The research, published last year in the prestigious journal Nature, projected that the world’s economic output would decline 62% by 2100 under a high-carbon emissions scenario. The estimate was much more severe than other forecasts, prompting scrutiny of the underlying data.
“We broadly agree with the issues raised, and have made corrections to the underlying economic data and to our methodology to address them,” said study author Leonie Wenz, from the Potsdam Institute for Climate Impact Research in Germany. “These changes are too substantial for a correction of the original article in Nature.” The study examined historical data from some 1,600 regions worldwide over the past four decades to project how changes in temperature and precipitation would affect economic growth, including factors like agricultural yields, labor productivity and infrastructure.
However, after the study was published, other researchers found that economic data from one country—Uzbekistan—during a short time from 1995 to 1999 had skewed the results. Without Uzbekistan, the 2100 damage forecast fell to 23%, not 62%. The researchers published their critique in Nature in August. Another researcher who wasn’t involved in the original work, Christof Schötz, said the results were more uncertain than the study suggested and published a separate critique in Nature in August.
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The Wall Street Journal – December 3, 2025
Climate Change Might Have Spared America From Hurricanes: Bjorn Lomborg*
The 2025 Atlantic hurricane season ended on Sunday, and not a single hurricane made landfall in the continental U.S. this year. This is the first such quiet year since 2015; an average of around two hurricanes strike the U.S. mainland annually. You’d think this would be cause for celebration—or at least curiosity about what role, if any, global warming played. Instead there has been resounding silence.
We heard plenty about Hurricane Melissa, the monster storm that hit Jamaica in late October with 185-mile-an-hour winds and flooding, causing roughly 100 deaths across the Caribbean. Headlines screamed that climate change was to blame. Attribution studies quickly followed, concluding that human-induced warming made Melissa more likely and worse.
These analyses typically run climate models simulating the world as it is today, with elevated sea-surface temperatures, and compare them with a hypothetical preindustrial world with cooler oceans. If a hurricane is more likely in the former scenario than in the latter, the conclusion is that climate change made the hurricane more likely. Generally, climate change increased the likelihood of about three-quarters of hurricanes, floods and droughts and other events studied worldwide.
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Politico – December 2, 2025
Data centers can bring down electricity prices, Wright says*
Energy Secretary Chris Wright made the case Tuesday that the data center surge widely blamed for raising electricity prices will ultimately do the opposite: lower Americans’ utility bills by spurring greater use of existing grid assets. “The faster we build data centers and we reshore manufacturing in the U.S., that’s actually going to be a force and will ultimately drive down average electricity prices,” Wright said at Energy Dialogues’ North American Gas Forum in Washington. “There’s a lot of people who are pissed at those data center guys — they should actually hug them and kiss them.”
Wright argued that data center demand, along with deregulatory actions taken by the Trump administration, will drive power producers to get more out of existing assets. Wright and other administration officials have blamed rising utility bills on Democratic policies encouraging new renewable generation, while Democrats point to Republicans’ clampdown on clean energy. “We’re going to build 30 gigawatts of new capacity, but we’re going to produce electricity as if we built 100 gigawatts of new capacity just by using our existing assets better,” Wright said.
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New York Post – December 2, 2025
It’s been one big, green goof. The Empire State’s green energy push has been a pie-in-the-sky bust as politicians hit the brakes on their alternate energy goals — and New Yorkers get sticker shock from ever-soaring utility bills, a scathing new report found. The analysis by the Democratic-leaning think tank the Progressive Policy Institute found a “clear and undeniable pattern of failure” across the most critical mandates of the 2019 Climate Leadership and Community Act.
“New York set bold climate targets, but ignored the economic and technical realities required to achieve them,” said PPI’s report author Neel Brown. “The result is an energy system that is less reliable, more expensive, and now politically unsustainable. Unless policymakers course correct, the state risks turning a climate leadership story into a cautionary tale,” he added.