US natural gas futures rose late in the session Monday on new data that showed a plunge in pipeline gas flows in Texas, which indicates the state's power grid could be susceptible to failures amid a cold snap.
Analysts are calling it a question of deja vu, following last February's ice storm that caused rolling blackouts across Texas.
Democrats like Beto O'Rourke, running against Gov. Greg Abbott, hope to capitalize on the grid failures last year, making "fix the grid" a campaign slogan.
While Republicans point to several bills passed in the last legislative session aimed at fixing the grid - and reforming ERCOT, the governing board held responsible for the failures - Abbott has literally staked his candidacy on there never being another blackout in Texas, exclaiming last month that, "I can guarantee the lights will stay on" this winter.
While it is unlikely that another once-in-a-generation ice storm will occur throughout the state, paralyzing it for more than a week, it should be noted that even Northern governors know better than to make such promises, since even in New England in the Mid-Atlantic states, blackouts and brownouts often occur after severe storms, despite utilities having over a century of experience with extreme winter weather.
(Full story HERE.)
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