Bloomberg Opinion Profile picture
Jul 1, 2021 8 tweets 4 min read Read on X
California’s hydropower reserves are drying up in the most literal sense.

This summer, the fuel that normally stands in for water is also running lower than usual trib.al/UQVzi8s
Natural gas typically fulfills two roles for California’s power grid during the summer:

➡️ It fills in the gap left by depleted hydropower
➡️ It handles much of the state’s surge in electricity demand during the early evening trib.al/13I89vX
The premium on local gas supplies has jumped to its highest level since February.

Power stations in California and Nevada Were also suddenly burning double the amount of gas compared to the previous month as a heatwave washed over the West trib.al/13I89vX
It looks like California may be entering the height of a particularly demanding summer with the lowest stockpile of gas in more than a decade.

One reason for this concerns prior events in another state far away from Sacramento: Texas trib.al/13I89vX
California produces very little gas of its own, relying on imports from the Rockies, Canada and Texas.

A little of that gas then usually heads south out of California to Mexico trib.al/13I89vX
When Texas suffered its devastating freeze in February, the isolation of its power grid rightly came under criticism.

But its natural gas network, which also failed, definitely isn’t an island.

Permian basin gas flows all over — and to California trib.al/13I89vX
This chart shows natural gas imports from the major regions supplying California on Tuesday, February 16 — in the depths of Texas’s energy crisis — compared with the third Tuesday in February for previous years trib.al/13I89vX
There are two conclusions to draw:

➡️ California will be paying up for gas, especially if it suffers more heatwaves
➡️ Everything’s connected. Texas' gas-starved power plants couldn’t supply juice to pipeline compressors, reinforcing gas shortages trib.al/13I89vX

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Bloomberg Opinion

Bloomberg Opinion Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @opinion

Apr 2
Could Trump’s tariffs raise $700 billion a year?

We did the math 🧵 Image
$700 billion is about nine times current US customs revenue, and 2.4% of the most recent estimate of US GDP.

Tariff revenue hasn’t surpassed 2% of GDP since the early 1870s, and hasn’t surpassed it on a sustained basis since the 1820s and 1830s Image
Trump often cites President McKinley’s high tariffs as an inspiration, but during McKinley’s presidency (1897 to 1901) tariffs generated less than half the share of GDP that $700 billion would amount to now Image
Read 10 tweets
Mar 18
Today, Meta is starting to roll out its own version of @X’s @CommunityNotes for Instagram, Threads and Facebook.

Will it work? Analysis of 1.1 million examples of the crowdsourced fact-checking system show it’s not stopping the spread of misinformation.

Look at the data 🧵
One of Community Notes’ main achievements is its speed in addressing misinformation. The chart below shows that it is getting faster 📈

But even with these improvements, notes typically appear after a post’s most viral stage of diffusion (after the damage is already done) Image
It’s unclear how much misinformation is on X — if it could be counted, it could be deleted.

But from X’s data, you can see that most misleading posts go unaddressed: Image
Read 10 tweets
Mar 17, 2023
📉 VCs causing the downfall of SVB
💰 Credit Suisse’s pricey lifeline
🚐 RVs predicting the future

🧵 Catch up on the week in news with @ALampietti’s round up of our must-see videos
If venture capitalists had stayed calm, would #SVB be OK today?

🎥 @kylascan has all the answers
What’s next for Credit Suisse? 🇨🇭

@PaulJDavies explains bloomberg.com/opinion/articl…
Read 6 tweets
Mar 15, 2023
Credit Suisse is in crisis.

What went wrong? So, so much.

🧵 Let’s take a look
We *just* learned that #SVB’s downfall was announcing it was raising equity without having buyers lined up, says @matt_levine.

So why would Credit Suisse’s biggest shareholder announce they would “absolutely not” put more money into the embattled bank? trib.al/aS9oy3I Image
After Saudi National Bank ruled out providing more assistance, #CreditSuisse closed down 24% at 1.697 Swiss francs per share, its lowest closing price on record trib.al/nnFD2F8 Image
Read 10 tweets
Mar 2, 2023
If health is wealth, America is dirt-poor.

The health-care crisis in the US isn’t just a tragedy for individuals. It makes it harder for the country to be productive and secure.

🧵 Let’s look at the data
The most vivid sign of the health crisis is falling life expectancy, says @adwooldridge bloomberg.com/opinion/articl…
There’s perhaps no greater metaphor for this crisis than the unhealthy discourse around Ozempic, writes @JKarl26.

A culture built on dieting is not a proper remedy for what ails us bloomberg.com/opinion/articl…
Read 8 tweets
Feb 28, 2023
📊 3 charts you need to see 📊

💰 Elon Musk is back on top
🇨🇳 Don’t panic over China’s “farm invasion”
⚡️ Putin’s invasion of Ukraine has dramatically redrawn the world’s energy map

Subscribe to Bloomberg Opinion Today for more trib.al/BNqIxPf
💰 Elon Musk is the world’s richest person again.

The billionaire has turned Tesla’s failing into winning bloomberg.com/opinion/articl…
🇨🇳 No need to panic over a “farm invasion”.

China doesn’t own nearly enough land to cause a food crisis bloomberg.com/opinion/articl…
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(