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Oklahoma City voters will be asked to approve a light rail plan next year
Voters in Oklahoma City will be asked to approve a light rail plan for a route between Will Rogers World Airport and the downtown area next year. The Regional Transportation Authority of Central Oklahoma has approved the plan. It would be part of a network that includes service to Tinker Air Force Base and a …
US Senate probes suspected collusion among domestic oil producers
The US Senate budget committee has launched an investigation into suspected collusion among 18 domestic oil producers. Exxon, Chevron, and ConocoPhillips are among the companies targeted. The Federal Trade Commission barred former Pioneer Natural Resources CEO Scott Sheffield from taking a seat on Exxon’s board of directors last month based on allegations he tried to …
API sues, says new federal standards effectively ban new liquid fuel-powered vehicles
The American Petroleum Institute is part of a federal lawsuit filed over new fuel economy and efficiency standards from the National Highway Traffic Safety Administration. Those standards were finalized earlier this month. The suit alleges they effectively ban new liquid fuel-powered vehicles by requiring mileage rates to be improved by 2% per year starting in …
Oklahoma Insurance Commissioner answers key questions about homeowners program
Oklahoma Insurance Commissioner Glen Mulready is answering some key questions about the state program for homeowners. Governor Kevin Stitt signed the Strengthen Oklahoma Homes Act in May. The legislation is aimed at helping Oklahomans fortify their homes and reduce their homeowners’ insurance rates. The new law goes into effect November 1st. Continue reading
OG&E Moves Forward With Rate Increase Before Receiving Approval
Oklahoma Gas and Electric reports it is moving forward with a rate increase that is still pending approval by the state Corporation Commission. Current rules allow moves like that one and this isn’t the first. OG&E settled earlier this month with parties opposed to the rate change request. The Oklahoman reports the AARP is the …
Lessening Demand Results In Lower Sticker Prices For EVs
The gap between the price you pay for your new or used internal combustion engine vehicle and an EV is shrinking. The demand is off despite federal government incentives. The average price of a new EV in May was $56,648, a drop of 15% from two years ago. Used EV prices have cratered by 42% …
Update: OCC delays decision on request from utility
Members of the Oklahoma Corporation Commission have decided they need more time for research before ruling on a request from Public Service Company of Oklahoma. PSO had asked the Internal Revenue Service to rule on a deferred tax expense program two years ago. The utility finally got a response recently. If the OCC approved the …
Closing Prices: Oil Prices Settle Higher Despite Surprise Report
Oil prices settled a little higher Wednesday despite an unanticipated increase in US gasoline supplies. Brent crude futures were up 24 cents to settle at $85.25 per barrel. West Texas Intermediate crude futures settled at seven cents higher at $80.90 per barrel. Rising tension between Israel and Hezbollah in Lebanon have worried investors that an …
Dignitaries attend opening of battery production plant in Atoka
Governor Kevin Stitt, House Speaker Charles McCall, and other Oklahoma dignitaries have attended the opening of a battery recycling plant in Atoka. Green Li-ion says it has a patented process to deal with what is called “black mass.” The more efficient approach avoids the need to send materials overseas for more processing, reducing production time …
Closing prices: High inventory levels make oil traders nervous about summer demand
While US households stay upbeat about the labor market and expected moderation of inflation, gas prices could start to rise if demand goes down. Reuters reports US consumer confidence decreased in June. That reality combines with high inventory levels to make oil traders nervous about summer demand for fuel. US crude stocks advanced 914 thousand …