Crude oil recorded another gain on Wednesday but natural gas prices in the U.S. slid again. Crude managed a nearly 1% increase on a smaller-than-expected increase in U.S. crude inventories, including those at Oklahoma’s Cushing Hub. A big withdrawal of distillate and gasoline stocks also played a role in sending prices up. West Texas Intermediate …
The slow buildup in crude oil stocks across the U.S. and at the Cushing Hub in Oklahoma continued again in the past week. Cushing added 700,000 barrels in the period from February 23 to March 1 when it hit 31.7 million barrels stored in its huge tanks. Earlier in February it held 29.5 million …
Oklahoma City’s LSB Industries released its fourth quarter and full year 2023 financial results this week showing a drop in sales and a $5 million quarterly loss, prompting leadership to delay a planned expansion of one of its fertilizer and ammonia plants in Arkansas. It proved to be a challenging year for the company …
Oklahoma U.S. Sen. James Lankford and some of his supporters contend the Biden administration has got it wrong again…..this time in its attack on independent or freelance contractors. He and Louisiana Sen. Bill Cassidy, M.D. introduced a Congressional Review Act measure of disapproval. It would overturn the Department of Labor’s (DOL) final worker classification …
Oil and gas tax revenues in Oklahoma finally increased in the month of February but were still down over the past 12 months. State Treasurer Todd Russ reported gross production tax revenue during the month dropped more than 41%. It also led to a decrease for all tax receipts for the month. Russ said …
While one Oklahoma House bill proposes what appears to be fewer opportunities for the public to see how a state agency handles state business, another has won full support in the House in the context of making government more transparent. HB3937, by Rep. Melissa Provenzano, D-Tulsa would require public bodies to post meeting notices and …
Oklahoma Congressman Frank Lucas is among some in the House who wonder if the Biden administration has gone too far in a proposed emissions rule, one that would require the Defense Department to report on the emissions from its military activities. Lucas chairs the House Science, Space and Technology Committee and was joined by …
A new satellite is orbiting the earth with one goal in mind—to measure the amount of methane emissions from oil and gas companies in Oklahoma, the U.S. and the rest of the world. It was sent into space not by the federal government but by an environmental group that is also not friendly with …
Pipeline operator Enbridge just wrapped up a major acquisition from Flint Hills Resources, an independent company based in Wichita,Kansas. The Canadian firm announced it will invest nearly $500 million in expansion of its pipelilne and storage assets to improve its abilities along the Gulf Coast. Already operating the biggest oil pipeline network in North …
If Oklahoma moves forward with a bill that proponents contend is no longer a Right of First Refusal measure for utilities in the state, it could run into serious challenges with the electric grid manager, the Southwest Power Pool as well federal regulators. It’s the claim of one official with the Washington, D.C. based …
