Nearly four months after a power line reportedly caused a Texas Panhandle wildfire, burned 1 million acres, killed two people and more than 15,000 head of cattle and spread into western Oklahoma, Xcel Energy finds itself not only busily defending itself from lawsuits, but at the same time increasing its power line inspections. It …
May 2024 archive
Regulators approve Wyoming’s biggest solar farm to be built on 6 sections of land
The biggest solar power project proposed in Wyoming got the green light this week from state regulators. The $1.2 billion solar farm, with more than 1.2 million panels and occupying 3,845 acres or more than 6 full sections of land south of Cheyenne, will be built by Enbridge Inc. of Canada. Approval came …
Study shows regional banks are increasing lending to oil and gas clients
A study by Pickering Energy Partners shows banks across the U.S. are backing away even more from their climate goals and previous discrimination of the oil and gas industry. Regional banks are actually increasing their efforts to finance the energy industry, rather than using ESG or Environmental Social Governance policies to avoid …
Gasoline prices are 1% higher than Memorial Day weekend of last year
On May 20, 2024, the Monday before Memorial Day, the retail price of regular gasoline averaged $3.58 per gallon (gal) across the United States, 1% higher than at the same time last year. The average price in Oklahoma was $3.12 this week. The U.S. Energy Information Administration reported that after adjusting for inflation (real …
Energy briefs
** Sen. Sheldon Whitehouse (D-R.I.) and Rep. Jamie Raskin (D-Md.) are asking the Justice Department to look into the oil industry’s handling of climate change after their own investigation. ** A group of state financial officers and other public and labor leaders called on Tuesday for major asset managers to vote against top Exxon directors, citing the …
Cars and trucks on highways are getting older
Holding on longer to your family car? Waiting for a better time to trade it in for a new vehicle? You’re not alone as a new report by S&P Global Mobility says the average age of U.S. cars and light trucks rose this year to a record 12.6 years. It shows Americans are holding …
Canoo expands markets but still struggles for cash
Leadership at electric vehicle maker Canoo are banking on contracts with the U.S. Postal Service and entering the car market in Saudi Arabia will improve the company’s finances. In the past week, Canoo filed a report with the Securities and Exchange Commission showing a net loss of nearly $111 million in the first quarter of …
Three straight days of losses for crude oil prices
Crude oil prices dropped Wednesday for a third straight day this week and Oklahoma energy stocks suffered as well. The declines came as investors responded in kind when Fed officials indicated there might be a delay in any possible interest rate cuts. As a result, higher rates mean tighter money for economic growth and any …
Second solar plant powering city operations in Hot Springs, Arkansas
A second solar plant has become operational for the city of Hot Springs, Arkansas. It’s a continued effort by the city to eventually power 100% of its operations with renewable energy. The second solar plant means about 50% of the operations are being supplied by the solar power. “It’s all about Arkansas,” said Pat …
Rep. Lucas cautions against rushing AI research
As Congress starts hearings into the U.S. development of semiconductor and artificial intelligence research, Oklahoma U.S. Rep. Frank Lucas had words of caution on Wednesday, telling a House committee hearing the “work should not be rushed at the expense of doing it right.” Rep. Lucas made the remarks at the start of a hearing …
