Crude oil futures settled higher on Wednesday as data confirmed OPEC’s compliance with the curbed production agreement, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude rose $1.43, or 2.8%, to settle at $52.25 a barrel. March Brent crude, the global benchmark, advanced $1.46, or 2.7%, to end trading at …
January 11, 2017 archive
Ice Storm in the Works for Oklahoma?
A nasty potential ice storm is in the works and it could play a big role in affect Oklahoma’s energy industry in the coming days. If the weather forecasters are accurate, central and northwest Oklahoma could see a major ice storm on Friday and Saturday. It already has the attention of electrical companies as they …
Pruitt Meets With More Senators—–Democrats Are Skeptical of His EPA History
Oklahoma Attorney General Scott Pruitt is making the rounds on Capitol Hill, meeting with U.S. Senators and trying to get support for his nomination to take over the U.S. Environmental Protection Agency. But he’s run into some opposition among some skeptical Democrats who don’t like his reputation of taking on the EPA regarding his …
EPA Proposes Another Rule Even as Pruitt Approaches Apparent Takeover
Another proposed rule by the U.S. Environmental Protection Agency is in the works, one that could target electricity companies in Oklahoma and across the nation. The EPA announced this week and in a notice published Wednesday in the Federal Register said the new rule will require chemical, petroleum products and electricity companies to prove they …
Most Protesters Arrested at North Dakota Pipeline Site are from Out-of-State
The protests led by Native Americans against the Dakota Access oil pipeline in North Dakota hasn’t been costly just to the owner of the pipeline. And records show many of the protesters are out-of-staters and a large number have criminal records. Now the Morton County Sheriff’s office estimates that it has cost the state and …
Texas Confronts Big State Budget Challenge
The state of Oklahoma’s not alone in confronting a budget challenge caused in part by the oil slump. Oklahoma’s budget hole could be close to $900 million dollars but in Texas, it could be nearly $6 billion. One Republican legislator, Rep. Drew Darby said the state of Texas will need another $5 billion to $6 …
Russia Tried to Influence Battle Over Fracking in the U.S.
While most of the focus of the claimed Russian hacking has been on reported attempts to influence the U.S. Presidential election last year, slipping nearly unnoticed and under the headline was hacking attempts regarding energy….namely “fracking.” It’s buried deep in the recently-released declassified version of a report by the U.S. intelligence community. U.S. Sen. James Lankford …
Williams Companies Announce Financial Repositioning, Issuance of New Stock
Williams and Williams Partners L.P. announced Monday an agreement to permanently waive payment obligations under the incentive distribution rights held by Williams and convert Williams’ economic general partner interest into a non-economic interest for 289 million newly issued Williams Partners common units. The estimated transaction value is approximately $11.4 billion, according to a company press …
OIPA’s Energy Index Reflects Decrease Due to Lower Prices
The latest energy index from the Oklahoma Independent Petroleum Association indicates signs of hope remain for the state’s oil and gas industry despite its overall decrease. Released on Wednesday by the OIPA, the index showed oil and natural gas industry employment held steady for the month and drilling activity in Oklahoma increased from 72 to …