Hurricane Milton’s strike on Florida sent crude oil prices up nearly 4% on Thursday while at the same time worries grew about Middle East oil supplies. The day’s trading also saw many Oklahoma energy stocks recording losses for the day. Investors and analysts say there is still major concerns that demand for energy might grow …
October 10, 2024 archive
Hurricane forces Empire Petroleum to extend rights offering
Hoping to raise nearly $10 million, leaders at Tulsa’s Empire Petroleum Corporation have extended their deadline to Oct. 24 in a right offering to stockholders. The decision, in part, was the number of requests by company stockholders as a result of the recent disruption caused by Hurricane Milton. They explained the extension was …
Arkansas legislators angry over proposed rate hike for Summit Utilities
Picked up from the headlines of Arkansas Business-–how state legislators are raising more than eyebrows over a proposed $87.7 million rate hike. The settlement, as we reported earlier in the week, would mean a more than 23% increase to residential ratepayers, or another $15.43 a month on average. State Attorney General Tim Griffin …
Oklahoma resources help with Florida’s recovery from Hurricane Milton
Not only did OGE and PSO sent line crews to Florida to help as millions are without power following the hit by Hurricane Milton, but others from Oklahoma are there to help. The Oklahoma National Guard sent a CH-47 helicopter and ten personnel, including two rescue swimmers and one Helicopter Search & Rescue …
Need a book for wind rules in Kansas? KU researchers came up with it
When it comes to wind regulations in the state of Kansas, there is the potential for 105 different sets of rules to follow. That’s because there are 105 counties in the state. To help developers and others who want to build wind projects, researchers at the University of Kansas have created an atlas showing …
A stalled oil rail line and a Colorado billionaire’s ties to a US Supreme Court Justice
Mention the name Phillip Anschutz in Oklahoma and some residents might remember when the billionaire from Colorado once upon a time bought The Oklahoman newspaper then sold it. Mention his name in other circles and his name is brought up in connection with a fight for approval of an 88-mile rail line designed …
Energy briefs
** At least 3 million were left without electricity after Hurricane Milton hit Florida Wednesday Evening. Tornadoes killed four persons. ** Florida firefighters say there is a growing concern that the floodwaters will result in the spontaneous combustion of electric vehicles.The fires had become frequent enough that insurers, car makers, fire chiefs and politicians have …
NextEra’s 3Q earnings report coming in a few weeks
NextEra Energy, the company known for its wind farm production across Oklahoma and other states, plans a release of its third quarter financial results in a few weeks. The Florida-based company will release the report before the opening of the New York Stock Exchange on Wednesday, Oct. 23. John Ketchum, chairman, president and …
Power grid reminds member states of persistent heat
Southwest Power Pool members, including Oklahoma, received a continuation of a Resource Advisory because of the lingering heat dome that produces temperatures into the 90s across much of the country’s middle. In a notice this week, the SPP said it was extending its current Advisory for the entire balancing authority area (14 states) through …
Bill Gates and his new wind turbine prototype
Billionaire Bill Gates and his Airloom Energy company recently received a nearly $14 million financing to construct a new type of wind farm in Wyoming. Instead of rising hundreds of feet into the air, the company’s proposed wind generator is a round structure built lower to the ground. Bloomberg reported some of the …
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