September 5, 2023 archive

Crude hits 10-month high on Saudi and Russian news of supply cuts to be extended

The announcement that Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year sent crude oil prices up a dollar a barrel in Tuesday’s trading—the highest since November 2022. It also created worries among investors who believe it could create shortages during the peak winter demand. US benchmark, West Texas …

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Company picks Port Muskogee for expansion of its operations

  Port Muskogee announced a New Mexico based company has chosen Muskogee for expansion. With the recent acquisition of the former Muskogee Metal Fabricators building and business, the group brings over 70 years of expertise in manufacturing commercial tanks. Their decision to invest in Muskogee was driven by strategic factors, including the region’s centralized location …

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Oklahoma City made drone has Air Force wanting more

  The decision by the U.S. Air Force for $6 billion to create a fleet of 2,000 AI powered drones could mean Oklahoma City’s Kratos manufacturing  plant busy for a long time. Kratos manufactures the Valkyrie drone and recent successful tests prompted the Air Force to ask for a $6 billion cash injection for an …

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Wildfire still burning near Walters in southwest Oklahoma

  Oklahoma firefighters say western Oklahoma has the highest percentage of chances of more wildfires, even as one in Cotton County burned 1,000 acres and at last word was only 20% under control. The latest fire update from the Oklahoma Forestry Services showed the Walters Fire in Cotton County had burned 1,052 acres. A Facebook …

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CEOs of Magellan Midstream and ONEOK promote their proposed $19 billion merger

  The two leaders of Magellan Midstream Partners, L.P. andONEOK, Inc. released a joint video message over the weekend, promoting the proposed merger of their two giant companies based in Tulsa. Shareholders of each will vote on Thursday, September 21 whether to ratify the proposed nearly $19 billion merger. The video message featured Aaron Milford, …

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Date announced for Unit Corporation’s cash dividend payment

  Unit Corporation in Tulsa announced the date it will pay a previously announced quarterly cash dividend of $2.50 per share of common stock. The payment fo the third quarter 2023 dividend will be made on September 26, 2023 to shareholders of record as of the close of business on September 15, 2023.

Fast energy reads

** As the threat of a strike looms amid negotiations between the United Auto Workers union and major US automakers, the White House faces increasing pressure to deliver on its promise of better wages and benefits for workers at electric vehicle facilities. ** Los Angeles International Airport has banned the sale of single-use plastic bottles in …

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Brace for higher gasoline prices after Saudi Arabia and Russia oil agreement

  The timing might have been fortunate. With Labor Day under our belts, now it appears an agreement by Saudi Arabia and Russia might result in higher gasoline prices. The two countries agreed Tuesday to extend their voluntary oil production cuts through the rest of the year. The agreement will result in a trimming of …

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Some scientists say there is no climate emergency

  Not everyone thinks the climate change reported throughout the world is a “climate emergency.” More than 1,600 scientists, that’s right, 1,600—-recently signed a declaration stating “there is no climate emergency.” They also declared that they “strongly oppose the harmful and unrealistic net-zero CO2 policy” advocated throughout the world. The declaration, put together by the Global …

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Texas takes on Biden administration’s push to protect lizard in the Permian Basin

  The latest move on the government’s effort to classify a tiny lizard as an endangered species in West Texas and Southeast New Mexico—-the Permian Basin—involves pushback by the state of Texas. Texas General Land Office Commissioner Dawn Buckingham was blunt in her warning to the U.S. Fish and Wildlife Service, writing that the classification …

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