Market manipulation during frigid weather? AG’s not saying


A little less than a month after he promised to monitor Oklahoma’s natural gas market to make sure there was no repeat of market manipulation like the state endured in the 2021 winter storm, Attorney General Gentner Drummond isn’t offering much detail about what he might have learned.

It was January 12 when he announced that he would monitor natural gas supply and market activity as frigid weather moved into Oklahoma.

“My office will be closely monitoring the situation and any suspicious activity will be investigated promptly. I will not permit unscrupulous actors to exploit Oklahoma on my watch,”stated Drummond in his announcement.

But what happened? Was there any manipulation in the markets? Did prices increase enough to warrant any investigation?

“The Attorney General’s office closely monitored market activity and identified certain concerns, which remain under review,” is the response OK Energy Today received from Phil Bacharach, spokesman for Attorney General Drummond.

When asked what specific power the Attorney General might have regarding such an investigation, Bacharach responded, “The Attorney General has broad authority to protect consumers, and AG Drummond exeercises that authority aggressively in the interest of Oklahoma families and businesses.”

That was the response regarding the AG’s promise to keep a close watch on the market in early January, a promise that was widely promoted by news media across the state.

“Unfortunately, that’s all I can give you at this time,” responded Bacharach.