November 10, 2021 archive

Crude oil demand returns faster than supply

  This year, demand for petroleum, both in the United States and globally, has largely returned to the pre-pandemic levels in 2019. Demand has grown faster than supply, reducing inventories and contributing to higher prices for crude oil and petroleum products according to a new report from the U.S. Energy Information Administration. The price for …

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NGL earnings report reveals drop in earnings

  A drop in earnings for the second quarter of Fiscal 2022 was reported by Tulsa’s NGL Energy Partners LP. The company said it suffered a $1.2 million loss from continuing operations compared to $6 million income for the second quarter of Fiscal 2021. NGL’s quarterly report indicated that excluding losses on the disposal and …

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High gas prices and COVID-19 aren’t slowing Thanksgiving travel

  Airports and roads may seem jam-packed this year as AAA predicts 53.4 million people nationwide to travel for the Thanksgiving holiday, up 13% from 2020. And high gasoline prices aren’t stopping Americans from hitting the road. That means highways and interstates in Oklahoma will have more traffic than usual for the holiday weekend. Airports in …

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Thursday energy news headlines

** At the U.N. Climate Change Conference on Tuesday, Rep. Alexandria Ocasio-Cortez, D-N.Y., said that “America is back” as a leader on climate change and predicted that the Biden administration’s Build Back Better plan and its wide-ranging climate provisions would soon be passed into law. ** The U.S. government projected that the global oil market will become oversupplied and …

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Tesla’s $1.1 billion car plant going up in Austin

  Elon Musk isn’t wasting much time in putting up his Tesla electric vehicle factory just east of Austin, Texas. Pictures show how quickly construction moved since Musk announced his selection of Austin last year to be the site of the new EV plant. That’s how work began along