OKC energy exec wonders why a high-flying bank is bailed out by government but his company

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Faithful subscribers of OK Energy Today know fully well how we have followed the political and monetary travails of Oklahoma City’s Mammoth Energy Services in it fight to get paid $370 million by Puerto Rico and the federal government.

Arty Straehla, the CEO at Mammoth, wrote at length over the weekend in The Oklahoma’s Viewpoint section of his struggles.

“Frankly, it isn’t easy to come to terms with how the federal government leapt to aid a high-flying California bank while turning its back on an Oklahoma energy service company that is owed money for life-saving work of its employees. How can this be? It’s a fair question and one I am hoping gets answered soon.”

Readers might remember how Mammoth Energy responded when Hurricane Maria in 2017 devastated Puerto Rico and left the entire island nation without electrical power. Mammoth’s subsidiary, Cobra Acquisitions mobilized 1,000 line crew members and restored power within 18 months. But it is still owed hundreds of millions of dollars and Straehla wonders why his firm has yet to  be paid while Silicon Valley Bank’s $186 billion balance sheet is protected by the Biden administration.

“Leaving private sector companies twisting in the wind sets a dangerous precedent,” he wrote.

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