** Occidental Petroleum Corp. President-CEO Vicki Hollub says the Permian Basin is the core of the highest quality, most complementary assets her company has ever had. ** A top climate adviser to US President Joe Biden signaled the administration could phase in some requirements for a valuable new hydrogen tax credit in a bid to nurture a nascent industry …
August 7, 2023 archive
Tumbling gas prices result in big slump for Coterra Energy
U.S. oil and gas producer Coterra Energy reported a massive fall in quarterly profit on Monday as gas prices scaled back from last year’s peaks. Natural gas prices averaged 63% lower during the reported quarter compared to last year when they had soared following supply concerns propelled by Russia’s invasion of Ukraine. U.S. oil …
Biden’s EPA sued by Iowa and Nebraska over ethanol
The Environmental Protection Agency is being sued by Iowa and Nebraska for refusing to issue final rules allowing the year-round sale of gasoline blended with 15% ethanol. Iowa Attorney General Brenna Bird filed suit n Iowa federal court, seeking to have the EPA issue regulations allowing E-15 gasoline to be sold during the summer. “The …
Biden administration intends to put nuclear weapons development land to different use
The Biden administration plans to set aside nearly 70,000 acres used to develop nuclear weapons and use it for renewable enrgy development in New Mexico. The land is around the Waste Isolation Pilot Plant some 30 miles east of Carlsbad but other nuclear weapons sites are included in the plan reported the Carlsbad Current-Argus. …
Oil Rises for Sixth Consecutive Week
Oil prices rose more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns. Brent crude futures rose $1.10, or 1.3%, to settle at $86.24 a barrel, while the U.S. West Texas Intermediate crude …
Ada High School Student Pilots Attend EAA AirVenture Show in Oshkosh, Wisconsin
The Oklahoma Department of Commerce and Oklahoma Aeronautics Commission led a delegation of communities to exhibit at the annual EAA AirVenture show held at Wittman Regional Airport in Oshkosh, Wisconsin, according to an article in The Ada News. The Ada Jobs Foundation, Ardmore Development Authority, Bartlesville Development Authority, the City of McAlester and Tulsa International …
Texans Experience 800% Power Price Surge on Sunday
Texas residents experienced a power price surge on Sunday like no other in history – more than 800%! – as searing heat pushed demand toward record levels and strained supplies on the state grid. Bloomberg reported that electricity prices for the grid rose to more than $2,500 a megawatt-hour for Sunday evening, up from Saturday’s …
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