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• East Texas shaping into a CCS hotspot
  Carbon capture and storage activities are making headway in East Texas,...
  Carbon capture and storage activities are making headway in East Texas, with Chevron and Verde CO2 joining a growing list of companies that are drilling test wells and securing land deals. Enverus analyst Brad Johnston estimates break-even costs of $60 to $70 per ton for CCS projects in the Houston area, which would put profitability within reach when $85 per ton Inflation Reduction Act subsidies are factored in.
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• Electricity prices continue to climb nationally
  The Electricity Transmission Competition Coalition charged that the latest...
  The Electricity Transmission Competition Coalition charged that the latest inflation data release confirms that electricity prices continue to outpace the Consumer Price Index with electricity prices increasing by 3.6% compared to 3.2% for the CPI over the last 12 months. With the Federal Energy Regulatory Commission (FERC) poised to finalize its transmission planning rule as early as next month, the latest inflationary data should remind them of the importance of competition for new transmission projects.
  
  Paul Cicio, Chair of the Coalition called the report “especially damning because electricity generation costs have fallen due to low natural gas prices, but transmission costs continue to accelerate.”
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• API Reports Fall in Crude Oil Inventory
  Crude oil inventories in the United States ...
  Crude oil inventories in the United States fell this week by 5.521 million barrels for the week ending March 8, according to The American Petroleum Institute (API), largely contradicting analysts, who had predicted a 0.4 million barrel build. The API reported a 423,000-barrel rise in crude inventories in the week prior.
  
  Cushing inventories rounded out the losses this week, falling 998,000 barrels after rising by 500,000 barrels in the previous week.
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• ☕️What Else is Brewing Wednesday Morning
   Inflation was a bit hotter than expected last month. Consumer...
   Inflation was a bit hotter than expected last month. Consumer prices rose 3.2% in February, the Labor Department reported yesterday, up a pinch from the 3.1% that economists expected. That marks the second straight month that inflation came in higher than forecast. The data reinforces the Fed’s position to wait until inflation is tamed before cutting interest rates. Still, the central bank is widely expected to cut rates sometime later this year despite yesterday’s less-than-ideal report. It will meet next week to continue deliberations on a potential rate reduction.
  
  Apollo Global Management reached out to Paramount Global about a possible takeover, Axios reported.
  
  TikTok could be building an Instagram-like photo app, according to code found in its app.
  
  Andrew Tate, the social media influencer who was arrested in Romania in 2022 on charges of rape and human trafficking, will be extradited to the UK.
  
  Lego increased its market share in the toy industry, thanks to Harry Potter sets and a Fortnite partnership boosting sales last year.
  
  Iowa’s win over Nebraska in the Big Ten women’s basketball tournament championship was the most-watched women’s bball game on CBS since 1999.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for April delivery ...
  Benchmark U.S. crude oil for April delivery fell 37 cents to $77.56 per barrel Tuesday. Brent crude for May delivery fell 29 cents to $81.92 per barrel.
  
  Wholesale gasoline for April delivery rose 1 cent to $2.59 a gallon. April heating oil fell 3 cents to $2.62 a gallon. April natural gas fell 5 cents to $1.71 per 1,000 cubic feet.
  
  
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