A stronger dollar combined with large increases in U.S. fuel inventories led to a more than 1% drop in crude oil prices on Wednesday. The fall came after prices rose more than 1% earlier in the trading session. While crude oil stocks fell again across the U.S., gasoline stocks increased by 6.3 million barrels …
January 8, 2025 archive
Crude oil stocks fall at Cushing Hub and the U.S.
Crude oil stocks took another fall over the past week, both across the U.S. and at Oklahoma’s Cushing Hub. The Cushing Hub, according to the U.S. Energy Information Administration, as of the week of Jan. 3, 2025 held 20 million barrels of crude oil, a drop of 2.5 million from the week of Dec. …
Historic low Henry Hub natural gas prices—before the frigid weather
Typically, natural gas prices go up whenever extreme cold weather hits the state, such as this week’s arctic blast. But a new report pointed out how the U.S. benchmark Henry Hub natural gas spot price in 2024 was at a historic low. Whether the historic low will hold during the frigid weather is another …
Stop the Green rally attendees have support from Trump
Those green energy opponents who attended a Stop the Green rally at the capitol in Oklahoma City certainly have an ally in President-elect Donald Trump. Even as they rallied Tuesday, Trump was vowing to oppose all new wind energy production once he takes office later in the month. Speaking to reporters, he said, “We’re …
$750 million in acquisitions made by Plains All American
Plains All American Pipeline expanded its holdings in the Permian and Eagle Ford Basins with three bolt-on acquisitions by $750 million in deals. “These transactions further enhance Plains’ crude oil footprint in the Permian, Eagle Ford and Mid-Con at returns consistent with our bolt-on framework and provide incremental return of capital opportunities for our …
The “certainty” of forecasting snowfall in Oklahoma
No matter how much money some of the local TV stations invest in their weather departments, even some of the best meteorologists will tell you their forecasts are NOT a sure thing. Just ask Oklahoma Mesonet Climatologist Gary McManus who wrote in his Wednesday Mesonet column that snow is not a guarantee this week …
Walmart ends drone service with company
After four years of using DroneUp for drone delivery service, Walmart ended its contract this month. Both companies confirm the contract between the retail giant and the drone delivery company has come to an end and at the same time, Walmart is no longer an investor in DroneUp. Drones were not used at …
Legislator vows a fight against “green energy” insanity
One of the legislators who addressed a Stop the Green rally held this week at the state capitol admitted he ran for the legislature because of what he called the “green energy” insanity. Rep. Jim Shaw of Chandler said an industrial wind project proposed near his home and property sparked his desire to enter …
Group says poll shows majority of Oklahomans oppose utility ROFR
A recent poll regarding proposed Oklahoma legislation that would increase incumbent utility control over the state’s electric power grid shows that voters continue to show very little support for the concept. Conducted by national polling firm TargetPoint Consulting during the period of December 2-7, 2024, the poll found that a supermajority of voters …
Improved revenue collections in Oklahoma during December
Oklahoma’s latest gross receipts report highlights a significant improvement in revenue collections for December 2024 compared to the previous month. The report showed a nearly 19% gain in gross production tax revenue on oil and gas operations. While year-over-year numbers are slightly down, the month-over-month growth of 17 percent reflects positive economic momentum heading into …
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