16 December 2022 | Macroeconomics

Texas faces the worst cold snap in 2 years

It’s reported that a blast of arctic conditions is expected in Texas. It’s worth noting that severe frosts left millions of homes and factories in the state without electricity two years ago.

According to the National Weather Service, temperatures in the Permian basin will drop to 25 F (-4 C) by Friday evening. Tom Kines, a meteorologist at AccuWeather Inc, notes that a polar vortex will sweep across the central US next week. It has every chance to break the 1983 record.

The region is home to the world's largest oil shale field. Production facilities may be put in danger because of low temperatures. For example, wellheads could freeze and pumping stations could shut down. In this regard, a Texas regulator called on oil and gas companies to do their best in order to protect personnel, facilities and equipment.

On the other hand, according to Kines, there is a possibility that the cold weather will be similar to the one that shook the region's power system in February 2021. However, it’s expected to be less severe. 

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