The crash in U.S. oil production is growing worse as freezing temperatures and power outages in Texas prevent pumping the fossil fuels from the ground.
Bloomberg reported that oil production has plunged by close to 40% — the most ever, according to traders and industry executives with direct knowledge of the operations.
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Firefighters and officials at California’s largest utility company braced for hot, dry and windy weather in northern and central areas of the state this weekend that may fan the flames of several major wildfires or ignite new ones.
Pacific Gas & Electric warned Friday it may cut power from Sunday morning to Monday, potentially affecting 97,000 customers in 16 counties, during which forecasters said a ridge of high pressure will raise temperatures and generate gusts flowing from the interior to the coast.
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