While some say the government has given too many subsidies and tax breaks for the renewable energy industry and the electric vehicle market, some leaders in Kansas say just the opposite. State economic development leaders there want the legislature to pass more tax breaks for electric and hydrogen-poweered vehicle manufacturers. The Commerce Department urged …
March 2024 archive
Gains recorded in US and Oklahoma rig counts
The U.S. and Oklahoma saw more gains of oil and gas rigs in the past week, according to a weekly report issued by Baker Hughes Co. Baker Hughes showed the nation had a 3-rig increase to reach 629. The number of oil rigs gained 3 to reach 506 while the total of gas rigs …
Wildfires still not under control as they spread across Oklahoma and Texas Panhandle
With more than a million acres burned in wildfires that started in the Texas Panhandle and swept into western Oklahoma, officials feared the blazes would only grow over the weekend with little of them under control. Strong winds swept across the region on Saturday and Sunday, only making the fight even more difficult in …
First Oklahoma incentive payment made to EV maker Canoo
While its publicly traded shares have plunged to a dime each, electric vehicle maker Canoo Inc. announced it has received its first funding from the state of Oklahoma where it has operations in Oklahoma City and Pryor. The company said it received the first funding “for successfully achieving an employment milestone from previously announced …
Devon Energy finances Texas firm’s geothermal energy development
Oklahoma City’s Devon Energy has invested more funds into geothermal development, helping Houston’s geothermal company Fervo Energy raise $244 million in its latest funding round. The funds will finance the geothermal company’s next phase of growth as it puts to use oil and gas technology and techniques to scale geothermal energy. “Demand for …
Dismal fourth quarter for Mammoth Energy Services
In announcing its fourth quarter financial report, Oklahoma City’ Mammoth Energy Services, Inc. also stated it received another payment of $50.6 million from the Puerto rico Electric Power Authority for work Mammoth performed following the 2017 Hurricane Maria. Mammoth called the payment a “portion” of what it was owed in disputed costs through its …
Crude oil prices gained while natural gas fell in Friday’s trading
Investors await Monday’s trading to see if crude oil prices might continue their gain following Friday’s 2% increase for prices. The increase came as traders waited on an OPEC+ decision on second quarter supply agreements. At the same time, natural gas prices in the US continued their slow tumble downward. US prices, West Texas Intermediate, …
House Committee approves bill exempting Corporation Commission from Public Meetings Act
A House bill to allow Oklahoma Corporation Commissioners to meet and discuss certain issues without declaring a public meeting under Oklahoma’s Open Meetings Act won unanimous support recently in a state House Committee. Approval came after the sponsoring legislator made some claims that appeared to be inaccurate regarding support from commissioners and their …
Arkansas River improvements bill wins committee approval in legislature
The Oklahoma Senate has been sent a bill to provide $67 million for improvements to the Arkansas River levee system. Approval of Sen. Cody Rogers’ Senate Bill 1391 was n the Senate Appropriations Committee. The bill proposed appropriating the millions to the Oklahoma Water Resources Board. “It’s incredibly important that this funding is secured …
Energy quick reads
** The Biden administration announced it would delay part of its signature climate plan to slash planet-warming pollution from the power sector. The Environmental Protection Agency said it would carve existing gas plants out of a proposed regulation to cut emissions from power plants. ** The Biden administration finalized energy efficiency regulations targeting residential clothes washers and dryers …
