As the Middle East saber rattling intensified on Monday with Iran threatening to launch more missiles against Israel, crude oil prices shot up more than 3%. At the same time, some Oklahoma energy stocks dropped. The gain for crude oil prices was the fifth consecutive session as the U.S. sent a guided missile submarine to …
August 12, 2024 archive
Hiett’s scandal to get more attention from Corporation Commission
As Oklahoma Corporation Commissioners meet Tuesday, they will once again be tasked with handling a call for the resignation of Commissioner Todd Hiett who is accused of the drunken groping of a man at a hotel bar in June. Hiett already stepped down last week as chairman of the three-member regulatory body and …
Retiree wants conclusion of his lawsuit against State’s anti-ESG law
After winning a judge’s ruling which permanently suspended Oklahoma’s law banning financial firms from discriminating against the oil and gas industry, a state retiree is asking the same Oklahoma County District Judge to grant a final ruling on his lawsuit challenging the constitutionality of the Act. Don Keenan’s attorney, Colin Walke filed a motion …
Electrical blackouts in Texas also mean the state can’t get help from neighboring states
As renewable energy growth advances across Texas and more electricity is coming from wind and solar, it also presents a quandry for the state’s power grid. Texas doesn’t share the renewable electricity with other states and it avoids any federal oversight. On the other hand, it also means should Texas suffer intense power outages, …
Firm pushes new crop for biofuels development
A company whose stated mission is to replace more than 130 million gallons of petroleum diesel with ultra-low carbon intensity biofuel by 2030 is attempting to bring a new crop to West Texas and maybe Oklahoma. Vision Bioenergy Oilseeds recently held a meeting near Lubbock, Texas to promote the planting of camelina, an oilseed …
Launching of Direct Air Capture plant to be held Tuesday
A launching of the nation’s largest and the world’s second-largest operational direct air capture plant will be held Tuesday at a site in northern Oklahoma near the Osage County town of Shidler. Heimdal Inc, a pioneer in direct air capture (DAC) carbon dioxide removal technology, plans to formally begin the Project Bantam operation …
Southwestern Energy reports $608 million net loss in 2Q
While still awaiting government approval of Southwestern Energy’s merger with Oklahoma City-based Chesapeake Energy, Southwestern recently revealed its second quarter earnings which included a net loss of $608 million or 55 cents a share. The Texas-based company said its adjusted net income was $113 million or 10 cents a share and adjusted EBITDA was …
State Senator says proposed Kiamichi River hydroelectric plant would be a threat to the state
A controversial hydroelectric power plant proposed along the Kiamichi River in Pushmataha County we reported on a few months ago drew another opponent. Pollard state Sen. George Burns announced his “strong opposition” to the project proposed by the Southeast Oklahoma Power Corp. Under the proposal, Southeast would generate electricity using water from the Kiamichi …
Energy briefs
** Some of the top US oil refiners are throttling back operations at their facilities this quarter, adding to concerns that a global glut of crude is forming. Marathon Petroleum Corp. — owner of the largest US refinery — plans to operate its 13 plants at an average of 90% of capacity this quarter, the …
Court rules against Grainbelt Express line
Another legal setback for the Grain Belt Express, the proposed transmission line that would carry wind-powered electricity from southwest Kansas, across Missouri and Illinois and to Indiana. An Appeals Court recently reversed a Certificate of Public Convenience and Necessity granted to Grant Belt Express by the Illlinois Commerce Commission. The 5th Ditrict Appellate Court …
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