December 19, 2024 archive

Crude prices affected by interest rate cut and inflation

    This week’s decision by the Federal Reserve to cut interest rates combined with cautionary beliefs about weak economic activity and how it could hurt oil demands in the coming year sent crude oil prices slipping Thursday. One of those comments came from Chair Jerome Powell who warned Wednesday inflation was stubborn. Reuters reported …

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Corporation Commissioners wrestle with franchise fee court decision

  A month after the Oklahoma Corporation Commission’s 2022 decision to prohibit winter securitization utilities from collecting tens of millions of dollars in franchise fees with municipalities was overturned by the state supreme court, the regulators got an earful this week about whether to dismiss the case still on the OCC books. Groups involved in …

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Midship Pipeline donates to Oklahoma American Legion

      Midship Pipeline announced an $80,000 donation to the American Legion Department of Oklahoma. Local American Legion posts in the eight counties where the pipeline operates will each receive $10,000 to meet critical needs as the American Legion lives out its mission and advocates for every generation of veterans, service members and their …

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Manufacturing saw a December drop in Federal Bank’s Tenth District

    The latest Manufacturing Survey taken by the Federal Reserve Bank of Kansas City showed manufacturing activity declined in December in Oklahoma and the other states that make up the Tenth District of the bank. According to Megan Williams, associate economist and survey manager, the decline was modest. “Regional factory activity fell slightly this …

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City leaders take stand against possible nuclear waste site at Fort Smith

  A proposed nuclear waste storage facility right across the state line from Oklahoma in Fort Smith, Arkansas doesn’t have many supporters in the neighboring city. This week, city leaders came out against it. “I do not want a not want a nuclear waste facility in the city of Fort Smith,” Fort Smith City Director …

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Canoo halts production at OKC manufacturing plant

  Canoo, the EV manufacturer, not only furloughed more workers, as OK Energy Today reported earlier in the week, but now it has stopped manufacturing of its vehicles at the company’s Oklahoma City plant. Plus, its shares continued with another day of a drastic drop. Reports confirmed that Canoo had furloughed 82 employees and was …

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Approved Water Act includes funding for Oklahoma water projects

    This week’s U.S. Senate passage of the Water Resources Development Act of 2024 includes funding for several water projects in Oklahoma. The House had passed the measure earlier in December and with this week’s98-1 vote in the Senate, the WRDA heads to the President’s desk to be signed into law. Oklahoma U.S. Sen. …

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Oklahoma leaders tout economic progress in NYC meeting with credit rating agencies

State Treasurer Todd Russ alongside a delegation of Oklahoma leaders, recently traveled to New York City to meet with the nation’s leading credit rating agencies—S&P Global Ratings and Fitch Ratings. These strategic meetings highlighted Oklahoma’s improving economic outlook and the state’s efforts to strengthen its bond ratings. “Oklahoma is thriving, and we are telling our …

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Oklahoma joins fight to save Dakota Access Pipeline

  Oklahoma and 12 other Republican-led states were allowed by a federal judge this week to intervene in a new lawsuit brought by the Standing Rock Sioux Tribe against the Army Corps of Engineers in its continuing fight to close the Dakota Access Pipeline. Iowa, Georgia, Indiana, Kentucky, Louisiana, Missouri, Montana, Nebraska, Oklahoma, South Carolina, …

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Oklahoma Freedom Caucus celebrates stopping of land grab by Feds

The Oklahoma Freedom Caucus (OKFC) celebrates the groundswell of grassroots opposition to the federal takeover of Oklahoma lands for a transmission line. “We’ve seen growing concern of infringements by the feds under this Biden-Harris regime,” said Rep. Jim Olsen, R-Roland, who serves as OKFC vice chair. “In this latest move, they planned on confiscating hundreds …

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