WorldOil Halliburton switches to grid electricity for Permian frac jobs The world’s biggest fracking services provider, Halliburton has deployed the industry’s first grid-powered fracking operation on behalf of Cimarex Energy Co. To date, it’s completed almost 340 stages across multiple wells. UAE warns U.S. shale producers against flooding market with oil With demand still fragile, shale companies “are wise not to jump the gun and overproduce during the recovery year,” UAE Energy Minister Suhail Al Mazrouei said in an interview, adding they “need to be careful not to flood the market.” U.S. projects higher oil output in 2022 from rebounding shale The U.S. Energy Information Administration said that recent crude price increases and rig additions will help production in the Lower 48 states begin to rise in the second quarter of this year, with total output nearing 11.5 MMbpd in 2022. IEA chief says U.S. shale is needed for now as oil prices climb A “big chunk” of U.S. shale is profitable at current oil prices, but drillers should be aware of crude’s declining share in the future global energy mix, International Energy Agency Executive Director Fatih Birol said in an interview. How U.S. shale exports forever changed global oil markets “Opening the shale revolution to the world through the export ban lifting helped shift the global oil market psychology from supply scarcity to abundance,” said Karim Fawaz, director of research and analysis for energy at IHS Markit. “It unshackled the U.S. industry to keep growing past its domestic refining limitations.” Devon Energy joins shale producers pledging restraint as oil rallies “I have a hard time seeing the need for U.S. producers over the next several years to get back to double-digit growth,” Devon Energy CEO Rick Muncrief said in an interview. “For this management team, if we really think about 2021, let’s keep it flat.” Texas oil and gas regulator exceeds well site inspection goals In 2018, the Railroad Commission began work toward the ambitious goal of inspecting every one of the nearly 440,000 oil and gas wells in the state at least once every five years. The agency is well on its way to exceeding its goal again this year. Pioneer’s CEO sees shale output flat for the foreseeable future “I really don’t see much increase in the Permian basin or the U.S. shale over the next several years,” said Scott Sheffield, chief executive officer of Pioneer Natural Resources Co. High debt, low margins choke shale’s growth despite climbing oil prices Market conditions that might have triggered U.S. oil explorers to raise output and grab market share in recent years are, this time around, more an opportunity for them to pay down debt or boost dividends. Five options for Biden to quickly implement new climate rules Joe Biden made it clear on the campaign trail that he planned to take strong action to fight global warming. But his ambitious, $2 trillion climate plan will take time and resources. In the meantime, here are some of the smaller, immediate steps he can take -- and a few that are probably much harder than they look.