In his recent newsletter issued on Tuesday, Oklahoma Sen. James Lankford updated constituents on many issues involving the energy industry. Some of these relevant issues include: Inflation Reduction Act Lankford revealed the Senate voted on the 750+ page bill for more than 24 hours this past Saturday and Sunday. He denounced the $750 billion bill …
NOAA Releases Hurricane Season Outlook Update
The National Oceanic and Atmospheric Administration’s National Weather Service Climate Prediction Center division released its update to the 2022 Atlantic hurricane season. NOAA forecasters have slightly decreased the likelihood of an above-normal Atlantic hurricane season to 60%, down from the May outlook which predicted a 65% chance. The likelihood of near-normal activity has risen to 30% …
Corporation Commission to Hold Regular Meeting on Thursday
Oklahoma regulators will hold a regular meeting Thursday, August 11 at 1:30 p.m. to discuss, review and possibly hold a vote in a 2022 case where the director of the Oklahoma Corporation Commission Public Utility Division is seeking an order involving franchise fees or taxes. OCC Case No. PUD 2022-000073 involves the administration of ratepayer-backed …
NRC Webinar to Discuss Review of Supplemental Environmental Reports for Subsequent License Renewal
Nuclear Regulatory Commission staff will discuss plans to review supplemental environmental reports related to renewals of nuclear power reactor licenses (from 60 to 80 years) in a webinar on August 17. Earlier this year, the Commission directed the NRC staff to update the Generic Environmental Impact Statement for License Renewal of Nuclear Plants to cover the subsequent …
Oil Prices Show Versatility Over Volatility With Slight Increases on Monday
Despite market volatility, oil prices rose nearly 2% on Monday as positive economic data from China and the United States fueled hopes for demand despite warnings of an impending recession. Brent crude futures settled $1.73, or 1.8%, at $96.65 a barrel. U.S. West Texas Intermediate crude was at $90.76 a barrel, up $1.75, or 1.97%. …
Cherokee Nation Develops Financial Program to Help Drought-Stricken Farmers
The Cherokee Nation Reservation is offering a new program to provide financial help to tribal farmers and ranchers seeking relief from a historic drought. The million-dollar Relief for Cherokee Ranchers program will serve up to 2,000 ranchers – one per Cherokee household – with a one-time payment of $500 to mitigate the cost of buying and hauling …
Tom Cole Unhappy With Biden’s Inflation Reduction Act
Oklahoma Congressman Tom Cole unleashed a tirade against President Biden and his stalled attempts to correct the economy on Monday. Cole railed on President Biden’s inability to reel in skyrocketing prices as wages have shrunk, damaging not only the U.S. supply chain including the labor force. These factors led to a decline in Gross …
Baker Hughes Enhances Electric Machinery Portfolio With BRUSH Group Power Generation Division
Baker Hughes announced on Monday that it will acquire the Power Generation division of London-based BRUSH Group (BRUSH) from One Equity Partners. BRUSH is an established equipment manufacturer that specializes in electric power generation and management for the industrial and energy sectors. This acquisition supports Baker Hughes’ strategic commitment to lead in providing decarbonization solutions for …
Williams and PennEnergy Agree to Market and Deliver Certified, Low Emissions Next Gen Gas
Tulsa-based Williams and PennEnergy Resources, LLC, an EnCap Investments portfolio company in the Appalachian Basin, entered into an agreement to support the marketing and delivery of certified, low emissions next gen natural gas, according to a press release issued Monday. The agreement includes an independent, third-party certification process that verifies best practices are being followed …
So-Called Inflation Reduction Act would hurt share buyback programs
Oklahoma oil and gas companies that launched share buyback programs no doubt are wondering what kind of impact the $430 billion Inflation Reduction Act bill, if passed and signed into law, will have on them. It could be devastating because the bill passed by the U.S. Senate and under consideration in the House includes …
