Crude oil prices rebounded nearly $2 on Monday but the Oklahoma Energy stocks were nearly out of sight with some seeing gains of 7 and 8% and at least one, SandRidge Energy recording a gain of 10%. Helmerich & Payne recorded a 7% gain, Mammoth Energy 8%, and Unit Corporation 7%. Crude oil prices rose …
Oilfield employment still lagging in Texas
Another report shows how employment in the oil and gas industry in Texas is still far behind numbers before the COVID-19 pandemic hit the country. An analysis by the Institute for Energy Economics and Financial Analysis shows the industry in Texas added back only half of the jobs lost during the pandemic and it’s …
Back to normal operations on Keystone pipeline
Normal operations resumed over the weekend on the Keystone oil pipeline network that runs through Oklahoma following early July vandalism at an electric substation in South Dakota. TC Energy reported it resumed normal operations July 23 following the nearly week-long reduction in capacity according to S&P Global. The line carries crude oil out of …
Amazon introduces EV delivery vans to first of cities
None in any of Amazon’s Oklahoma markets, but Amazon plans to roll out thousands of custom electric delivery vehicles to more than 100 cities by the end of the year including Kansas City and Dallas. The company said it eventually plans to expand EV’s made by Rivian to 100,000 cities by 2030 reported KING …
Other headlines
** Former Vice President Al Gore said Sunday that now is the time to act on climate change as the U.S. experiences record heat and wildfires rage across Europe. Gore said global warming pollution is trapping the heat equivalent of 600,000 Hiroshima-class atomic bombs. ** The U.S. still remains ‘a ways away’ from reaching an international agreement to impose a price …
U.S. Reps say Biden made major mistake in killing Keystone XL pipeline
Three members of Congress from Florida say President Biden is wrong to depend on foreign oil to end the energy crisis in the U.S. Writing in The Miami Herald, the three also pointed out that Biden was wrong to have killed the Keystone XL pipeline. Click here for Miami Herald
Crude oil and OK energy stocks lost ground on Friday
Friday saw crude oil prices fall again, slipping to the mid-90s in the U.S. The tumble was largely blamed on the move by the European Union to allow Russian state-owned companies to ship oil to third countries. West Texas Intermediate crude for September delivery dropped $1.65 and settled at $94.70 a barrel on …
Oklahoma rig count unchanged while national numbers grew
The number of active oil and gas rigs in Oklahoma was unchanged in the past week while the U.S. count increased by two to reach 758 according to the latest Baker Hughes Co. report. Oklahoma remained at 63 active rigs, same as a week earlier. Nationally, the count saw no change in the number …
Power grid monitoring electricity use in expected high temperatures
A weekend letup in the extreme heat in Oklahoma and the remaining 13 states under the Southwest Power Pool grid resulted in a return to normal power operations. But the SPP said in a statement that the coming week it anticipates higher loads and concerns regarding the availability of generation resources. The grid operators …
Growing cryptomining industry could drain the Texas power grid
Already under intense scrutiny over the 2021 winter storm power failures, the power grid in Texas faces another looming challenge—how to handle the growing number of cryptomining companies flocking to the state. It’s estimated that in the coming years, those power-consuming firms will take nearly a fourth of the state’s power grid capacity. Click …
