A warning from Saudi Arabia’s energy chief that nations shouldn’t use emergency oil reserves to manipulate prices sent crude oil prices higher in Tuesday’s trading. Gains were also recorded by most Oklahoma energy stocks. “Losing emergency stocks may be painful in the months to come said the energy minister As a result, West Texas …
Union Pacific to build hybrid-electric locomotives in Arkansas
Union Pacific Railroad announced it is partnering with ZTR to build hybrid-electric locomotives for yard operations at its North Little Rock plant in Arkansas. The first prototype is expected to be delivered in 2023 and five more units are planned for arrival in 2024 reported Railway-News. Click here for Railway-News
Federal Reserve Banks to hold energy conference
The Federal Reserve Banks of Dallas and Kansas City will host their seventh joint energy conference on November 10 in Houston. The conference will focus on geopolitics as well the outlook for global energy markets and the U.S. energy sector. Participants will include business leaders, central bankers, government officials, academics and financial market …
BP to expand renewable energy efforts in $4 billion move
BP announced it is acquiring a Houston-based firm in a $4.1 billion deal to use natural gas emissions from landfills and farms. The renewable energy purchase is of Archaea Energy, a firm formed a few years ago. Click here for Fox 26 News in Houston
Arkansas to locate EV charging stations near Oklahoma
Arkansas has decided some of the first new EV charging stations to be constructed with the help of millions in federal funds will be right next to the state line with Oklahoma. Eleven so-called “charging deserts” in the state will be the first to receive the electric vehicle charging stations including U.S. 412 from …
Reserve Bank says oil consumption growth to slow
A forecast from the Dallas Federal Reserve Bank says expectations for oil consumption growth have been reduced by deteriorating global economic conditions. The Bank cited the decision by OPEC+to cut production quotas in November as one of the conditions, but also determined it was likely to be muted by underproduction of member countries. Inventories …
Construction set to begin on Love’s biodiesel plant in Nebraska
A large biodiesel plant being planned by the partnership of Oklahoma City-based Love’s Family of Companies with Cargill is about to see actual construction in the coming month. Dirt work is still underway on the Heartwell Renewables, a planned 80-million gallon biodiesel plant near Hastings, Nebraska reported the Kilgore News Herald. Loves and …
Cole warns of higher winter costs and blames Biden and Democrats
In a weekly column to his constituents, Oklahoma Republican Rep. Tom Cole joined the chorus of those warning of a ‘long cold winter’ ahead with increased gas prices and also blamed President Biden for his war on “American energy.” Rep. Cole said Americans are facing record-high prices at the pump and might have to …
Iowa wind turbine caught fire early Monday morning
A burning wind turbine lit up the the night sky over eastern Iowa this week. Firefighters were called to the scene early Monday morning to near Williamsburg, a town about 35 miles southwest of Cedar Rapids, reported the Kansas City Star. An investigation is underway not only by firefighters but also MidAmerican Energy. Click …
Gas prices hover at zero in Permian Basin
Oil producers of the Permian Basin of West Texas are hoping the falling natural gas prices in the region don’t lead to a repeat of what happened a few years ago when they were forced to pay someone to take natural gas off their hands. Those worried producers include several Oklahoma firms that have …
