Oklahoma’s Congressional delegation won’t like Biden’s next oil move

  In a move sure to perturb Oklahoma’s congressional delegation, the Biden administration reportedly plans to sell more crude oil from the Strategic Petroleum Reserve. Bloomberg reported the sale will amount to 26 million barrels of crude. It quotes a Department of Energy spokesperson who said the sale is in accordance with a budget mandate …

Continue reading »

Value of EV maker Canoo’s shares keeps falling

  Electric vehicle maker Canoo continues to find itself in an up hill push financially. Shares in Canoo fell still more this week, days after the firm announced the sale of discounted shares in order to raise more than $52 million. Last week, the price of Canoo shares was down more than 12% and traded …

Continue reading »

SEC’s greenhouse rule fought by Lucas and others in Congress

  The greenhouse gas emissions reporting rules proposed by the Securities and Exchange Commission were targeted by Oklahoma Congressman Frank Lucas and other farm-state representatives who want exemptions for America’s farmers and ranchers. Rep. Lucas, the longest-serving Republican on the House Committee and Financial Services and former chairman of the House Agriculture Committee was joined …

Continue reading »

Russia’s decision to cut crude production prompts slight gain for crude oil prices

  Crude oil prices made small gains on Monday as investors wondered how Russia’s plans to cut crude production might impact trading. A few Oklahoma energy stocks recorded significant gains for the day. West Texas Intermediate crude managed a 42-cent increase or 0.5% to reach $80.14 per barrel on the New York Mercantile Exchange. Brent …

Continue reading »

U.S. refineries to stay busy in 2023 according to government forecast

  A new government forecast says U.S. refineries will be as busy in 2023 as they were in 2022 but a slight reduction might occur in 2024. The report, the Short-Term Energy Outlook (STEO), from the U.S. Energy Information Administration expects refinery utilization will be more than 90% in the next two years. The industry …

Continue reading »

Legislators to focus on energy issues in committee meetings

  Oklahoma legislators start serious work this week on tackling some of the issues and bills that could have a direct impact on the state’s energy industry. The Senate Aeronautics and Transportation Committee will meet Tuesday afternoon at 2 o’clock in Room 230 of the Capitol. The House Transportation Committee will meet at 1:30 p.m. …

Continue reading »

Sen. Mullin gets assignments on Environment and Public Works Committee

  Oklahoma U.S. Sen. Markwayne Mullin learned his Senate Environment and Public Works Committee assignments this week. He not only succeeded retired U.S. Sen. Jim Inhofe in winning last November’s election, but Mullin also replaced Inhofe on the Environment and Public Works Committee he once chaired. Sen. Mullin, who is now the state’s freshman Senator, …

Continue reading »

Rural Oklahoma’s economy helped by growth of wind farms

  The number of wind turbines in Oklahoma isn’t slowing down and the economic impact on the state is realized—especially in the rural areas of northwest Oklahoma. The Enid News and Eagle reports northwestern Oklahoma is home to several wind farms, including NextEra Energy’s Skeleton Creek Wind, Solar, and Battery Storage Project in Alfalfa, Garfield …

Continue reading »

Austin City Manager could lose job over ice storm response

  The City Manager for Austin, Texas is on shaky grounds and might lose his job over the city’s response to the recent ice storm that left tens of thousands without electrical power. Mayor Kirk Watson and three other council members added an item for this week’s city council agenda and it is whether to …

Continue reading »

Devon’s newest Blaine County wells combine for 3,000 barrels of oil a day

  Reporting the completion reports filed by oil and gas companies in Oklahoma can be tricky. Sometimes, oil firms filed one completion report followed a day, or two later by others. Such is the case with Devon Energy and its filing of reports for the Cheetah wells the firm drilled in Blaine County. Now it …

Continue reading »