October 17, 2024 archive

Nation’s crude oil supplies have dropped but not at the Cushing Hub in Oklahoma

  Lower crude oil prices on Thursday in the U.S. were apparently the result of falling crude oil stocks over the past week. The U.S. Energy Information Administration reported a drop of 2.2 million barrels of crude oil. The U.S. stocks totaled 422.7 million barrels on Oct. 4 but fell to 420.5 million barrels the …

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Lower US crude inventory sent mixed signals on crude oil prices

Crude oil prices  were mixed in Thursday’s trading after the latest data showed crude oil inventories fell in the U.S. over the past week. The global benchmark saw a gain while the U.S. standard slumped. It followed a fall Wednesday to their lowest level since Oct. 2. U.S. crude inventories dropped 2.2 million barrels to …

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AG won’t represent legislators in their lawsuit against Corporation Commissioner Todd Hiett

    Correspondence filed Tuesday at the Oklahoma Corporation Commission reveals Oklahoma Attorney General Gentner Drummond has declined to represent utility ratepayer complaints against Commissioner Todd Hiett.  By statute in Oklahoma, the Attorney General has a duty “to represent and protect the collective interests of all utility consumers of this state in rate-related proceedings before the …

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Phillips 66 to close Los Angeles refinery

    The Phillips 66 refinery in Los Angeles will be shut down in the coming year, according to an announcement by the oil company. The firm said the shutdown will occur by the end of 2025 and it cited market concerns for the move. “With the long-term sustainability of our Los Angeles Refinery uncertain …

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Awaiting 3Q financial report from EV maker Canoo

  A third quarter financial report by EV manufacturer Canoo could be heavily anticipated after the company, with a manufacturing plant in Oklahoma City and operations in Pryor, recently withdrew its 2024 revenue guidance. The struggling company had previously expected revenue for the third quarter to be between $100,000 and $1.2 million. The withdrawal came …

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Childcare and its role in struggles to find workers

    By John McCoy   Although labor markets are becoming more balanced across the country, with the number of job openings relative to the number of available workers approaching pre-pandemic levels, some states and regions are continuing to face tighter-than-normal labor market conditions. In the Tenth Federal Reserve District, for example, businesses have reported …

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OKC follows EPA guidelines with water line inventory

    In compliance with the U.S. Environmental Protection Agency (EPA) Lead and Copper Rule Revisions (LCRR), the City of Oklahoma City Utilities Department has published an online inventory of all water service lines connected to the City’s water distribution system. Service lines are small-diameter water pipes that connect a public water system to a home or …

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Federal Reserve banks to explore how to meet rising energy demand

  Among the speakers at next month’s 2024 Energy Conference sponsored by the Federal Reserve Banks of Kansas City and Dallas will be Devon Energy leader Rick Muncrief. He is slated as one of those who will speak at the conference on Wednesday, Nov. 13 at the Federal Reserve Bank of Dallas, 2200 N Pearl …

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“Range anxiety” targeted in Oklahoma’s building of EV charging network

    Charging, not range, is becoming a top concern for electric vehicle drivers. The Biden administration’s infrastructure agenda includes $5 billion to install electric vehicle chargers on highways, but the initiative is dragging. State agencies that typically focus on pavement have had to cope with the complexity of providing power, and have learned that …

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EV school buses in Oklahoma and how they’re connected to Kamala Harris

    It was back in January, long before Vice President Kamala Harris even thought of replacing Joe Biden as a Democratic presidential candidate, that she announced Oklahoma was among school districts receiving part of more than $1 billion from the EPA to buy electric school buses. “Today, we are announcing nearly $1 billion to …

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