The gap between the price you pay for your new or used internal combustion engine vehicle and an EV is shrinking. The demand is off despite federal government incentives. The average price of a new EV in May was $56,648, a drop of 15% from two years ago. Used EV prices have cratered by 42% …
June 26, 2024 archive
Update: OCC delays decision on request from utility
Members of the Oklahoma Corporation Commission have decided they need more time for research before ruling on a request from Public Service Company of Oklahoma. PSO had asked the Internal Revenue Service to rule on a deferred tax expense program two years ago. The utility finally got a response recently. If the OCC approved the …
Closing Prices: Oil Prices Settle Higher Despite Surprise Report
Oil prices settled a little higher Wednesday despite an unanticipated increase in US gasoline supplies. Brent crude futures were up 24 cents to settle at $85.25 per barrel. West Texas Intermediate crude futures settled at seven cents higher at $80.90 per barrel. Rising tension between Israel and Hezbollah in Lebanon have worried investors that an …
Cushing sees a drop in crude oil storage while the US recorded a gain
The U.S. saw a gain in crude oil stocks while the amount held in storage at Oklahoma’s Cushing Hub declined. The U.S. Energy Information Administration reported the U.S. saw a gain of 3.6 million barrels of crude oil, from 457.1 million barrels recorded on June 14 to 460.7 million barrels as of June …
Storm hits Oklahoma leaving thousands without power and OGE crews at work
(courtesy KFOR TV) Severe storms including 80 mph damaging winds, hail and heavy rainfall moved through OG&E’s service area overnight Tuesday causing downed power lines, broken power poles, and damage to cross arms and other equipment attached to poles. As of 12 p.m. Wednesday, approximately 55,000 customers were without service due to the storms. …
Natural gas prices hit negative market on Tuesday
The nation’s heat wave just sent natural gas prices into a negative zone in Texas as they fell below zero for the first time since May. It means there was an unexpected demand for natural gas to keep electricity produced. According to Reuters, pipe maintenance trapped gas in the Permian Shale even as demand for …
Phillips 66 expands production to become renewable fuels leader
Phillips 66 says it’s become a leader in renewable fuels with the full conversion of its Rodeo Renewable Energy Complex in the San Francisco Bay Area. It means the company expanded its commercial-scale production as it increased rates to nearly 50,000 barrels a day or about 800 million gallons a year and achieved its …
Nine Energy prepares for release of 2Q earnings report
With operations in Oklahoma’s SCOOP and STACK plays, Houston’s Nine Energy Service prepares a release of its second quarter earnings report. The information will be released on Tuesday, August 6 before a 9 a.m. central time conference call where the results will be discussed by company leaders. Nine Energy experienced a first quarter net …
Devon to release 2Q earnings report
After a first quarter cash flow of $1.7 billion and net earnings of $596 million, or $0.94 per diluted share, Devon Energy prepares to release its second quarter earnings of the year. The Oklahoma City company plans to release its earnings report on Tuesday, August 6 after the close of U.S. financial markets. The earnings release …
OGE hands out fans to low income elderly
(As part of OG&E’s fan distribution program, John Koons, OG&E Community Outreach Coordinator; Allison Terrill, OG&E Community Outreach Coordinator; Paul Durrett, Salvation Army Social Services Manager; Kyle Sexton, OG&E Heavy Hauling Coordinator; and Victor Teran, OG&E Heavy Hauler pass out fans at the Salvation Army of Central Oklahoma to help keep local residents safe and …
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