16 December 2022 | Other

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. 

Company MarketCheese
Period: 06.05.2026 Expectation: 1220 pips
USDCAD primed to resume uptrend following key central bank announcements
Today at 06:40 AM 7
Period: 12.05.2026 Expectation: 500 pips
Go long on Brent crude with $114.5 in sight
Yesterday at 11:47 AM 26
Period: 05.05.2026 Expectation: 890 pips
Buy AUDUSD on pullback with 0.72190 target ahead of Australian CPI and Fed decision
Yesterday at 11:10 AM 20
Gold buy
Period: 15.05.2026 Expectation: 5000 pips
Invest in gold once it breaks above $4,700
Yesterday at 10:47 AM 36
Period: 15.05.2026 Expectation: 500 pips
Buying GBPUSD up to 1.36650
Yesterday at 10:47 AM 9
Period: 28.05.2026 Expectation: 300 pips
Invest in Tesla stocks with $410 in view
Yesterday at 09:18 AM 8
Go to forecasts