May 30, 2024 archive

Thursday’s trading produced a nearly 2% drop in US crude oil prices

While crude oil prices dropped Thursday for a second straight day, Oklahoma energy stocks made gains. The price drop came after a weak fuel demand across the country was reported by the government. There was also a surprise increase in gasoline stockpiles. West Texas Intermediate crude took a slide of $1.32 or 1.7% to $77.91 …

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The gloves come off at the Oklahoma Corporation Commission—charges fly over winter storm costs

  A division of the Oklahoma Corporation Commission came out this week with a report blaming Corporation Commissioner Bob Anthony as well as former legislator Mike Reynolds, of $277 million in additional costs to ratepayers over the 2021 Winter Storm securitization and bond costs. It led to Reynolds saying he was “astounded” and Anthony calling …

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Crude oil stocks plunge at Cushing Hub and across the US

  Crude stocks took a dip in the past week across the U.S. and at the Cushing Hub in Oklahoma. The nation’s total crude oil stocks, reported the U.S. Energy Information Administration, dropped from 458.8 million barrels as of May 17 to 454.7 million barrels on May 24. The more than 4 million barrel decline …

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Oklahoma Senate supports bill to investigate aluminum contamination in Blue River

    Suspected aluminum contamination of the Blue River and Little Blue Creek in southern Oklahoma will be targeted under a bill that won state Senate approval this week. The Senate on Wednesday passed Senate Bill 1273, by Sen. Jerry Alvord, R-Ardmore, off the floor. The measure seeks to investigate and improve the water quality of …

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SPP power grid raises questions about EPA’s greenhouse gas emissions rule

    The Southwest Power Pool, the power grid controlling Oklahoma and 13 other states,  joined others in raising questions about the impact of a final greenhouse gas emissions rule issued by the Environmental Protection Agency. In a recent statement, the SPP “asserts the EPA rule could negatively impact the nation’s ability to provide consumers …

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Governor signs legislation to focus on improvement of state’s ports

    Governor Kevin Stitt signed a measure into law this week aimed at putting more focus on Oklahoma Ports along the McClellan-Kerr Arkansas River Navigation System. Specifically, Senate Bill 1429, authored by Sen. John Haste, R-Broken Arrow, redesignates the McClellan-Kerr Arkansas River Navigation System Infrastructure Revolving Fund to the Oklahoma Ports Infrastructure Revolving Fund …

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Drought still lingers in Oklahoma

Despite the rain in recent weeks in Oklahoma, guess what is still with us?  The drought! State Climatologist Gary McManus explained it “just hasn’t rained enough to relieve drought, or stop its intensification.” And he said there are still deficits out there even in the past 30 days. To make his case, he compared the …

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Dollar Tree decision the latest blow from Marietta tornado

  The city of Marietta just got another wallop from the April 27 tornado, the one that killed a motorist on I-35 and left the city devastated. The Dollar Tree distribution center that sits along the west side of the Interstate was so badly damaged by the EF-4 tornado, that the company doesn’t plan to …

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San Juan Basin residents demand cleanup of abandoned oil and gas wells

  Residents of the San Juan Basin located in northwestern New Mexico are among those clamoring for the state and others to do something about the large number of abandoned  oil and gas wells that dot the landscape. The Albuquerque Journal reported that complicating the matter is how the land is made up of private, …

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Corporation Commissioners get an earful from OGE customers about utility’s $332 million rate hike request

    While school administrators, economic development directors, and city representatives recently lined up to support OG&E’s $332 million rate hike request, citing the utility as “responsible and reliable,” the on-line comments sent to Oklahoma Corporation Commissioners are a different story. Many comments listed at the Corporation Commission indicated direct opposition by residential customers, many …

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