According to CoinMeta, oil and gas companies are competing with data centers for electricity in the oil-producing areas of West Texas, facing the risk of power outages. As the demand for electricity from oil and gas producers continues to grow, the region's electricity demand has surged sharply. Diamondback is one of the largest oil producers in the Permian Basin, and its top executive expects that the company's electricity demand will double over the next decade. Analysts at Citigroup warn that the region may face power outages next summer. Executives from Texas' power grid operator and state public utility regulatory agency held a hearing this week before the House State Affairs Committee of the Texas Legislature to discuss the necessity of increasing transmission lines.