Gasoline prices are slowly sinking in the U.S. and Oklahoma with the national average at $4.25 a gallon and Oklahoma’s average down to $3.78 per gallon. The American Automobile Association reported Wednesday the state’s average had fallen 4 cents in the past week but was still 57 cents higher than a month ago. The …
Crude supply increases at Cushing hub
As the nation’s crude oil supplies increased slightly in the past week, so too has the amount of crude in storage at the Cushing oil hub in northern Oklahoma. The U.S. Energy Information Administration reported Wednesday that Cushing’s crude in storage was 24 million barrels, up 1.8 million barrels from a week ago when the …
Another small oil and gas operator getting out of Permian business
Much has been written in the past year about “major” and “mid-major” companies taking over smaller oil and gas operations across the U.S. Permian operator Raye Miller, who spent 42 years in New Mexico’s oil industry is among those getting out of the business as he says the handwriting is on the wall of …
Oklahomans invent way to help plug abandoned wells
Two Oklahomans think they’ve created a way to make sure abandoned oil and gas wells no longer leak methane emissions. Craig Brown and Ann Copple have come up with the brass Hydraulic Compression Seal reported News 9. Their invention has already been approved by Oklahoma regulators. Click here for News 9
Koch Industries becomes major investor in battery industry
Wichita-based Koch Industries is quickly becoming a major backer of the nation’s battery industry with $750 million in investments over the past 18 months. Just do a Google check of Koch and battery development and you’ll see where the company announced last October of its partnership with the Norway-based company FREYR to specialize …
OK legislature takes up crypto mining bill
A bill aimed at attracting the crypto mining industry to Oklahoma has been introduced in the state legislature. State Sen. John Montgomery unveiled his “Commercial Digital Asset Mining Act of 2022” on the Senate floor according to Fox 25 News. Click here for Fox 25 News
Other energy headlines
** High gasoline prices are already impacting demand, according to one energy expert. “Above $4 per gallon, you do see the American public change their driving habits. And we do actively see demand destruction,” Regina Mayor, global head of energy at KPMG, told Yahoo Finance Live. ** The White House is still trying to find a plan to lower …
O’Rourke vows he won’t back down from Energy Transfer chairman’s lawsuit
The lawsuit filed by Texas oil billionaire Kelcy Warren against Texas gubernatorial candidate Beto O’Rourke has created more headlines. O’Rourke responded to the lawsuit saying he’s ready for a fight. Warren, Chairman and former CEO of Energy Transfer filed suit after O’Rourke accused him of paying off Republican Gov. Greg Abbott. Energy Transfer is …
Dallas Fed predicts world recession without Russian energy exports
The Federal Reserve Bank of Dallas is out with a study by its economists who say the world economy will go into a recession this year without Russian energy exports. “If the bulk of Russian energy exports is off the market for the remainder of 2022, a global economic downturn seems unavoidable,” economists Lutz …
Frac sand prices up 3X from a year ago
Oil and gas explorers are facing frac sand prices that are 185% higher than a year ago. The high prices are considered another impediment in any growth of oil and gas exploration across the country reported Business Insider. Click here for Business Insider
