16m ago1138am CST Pipeline Pinch Squeezes Permian Oil Prices The price difference between U.S. shale oil in West Texas and at the Houston export hub has significantly widened in recent months. This is primarily due to a shortage of pipeline capacity to transport the surging crude production from the Permian Basin to the Gulf Coast.
The company highlights the significant energy needs of developing nations and the necessity to quadruple current energy production to alleviate energy poverty. While acknowledging the need for a transition to cleaner energy sources, TotalEnergies defends its continued exploration of new oil and gas projects. They argue that these projects are essential to maintain production levels and offset the natural decline of existing fields.