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Crude oil up—OK energy stocks down
Crude oil prices saw a third consecutive day of gains in Wednesday’s trading largely because of the Federal Reserve chairman’s remarks that eased worries about interest rate hikes. It didn’t seem to help Oklahoma energy stocks as they experienced mostly moderate losses. West Texas Intermediate crude rose $1.33 or 1.7% to reach $78.47 on the …
Oklahoma City contends state regulators failed to notify city over pending loss of franchise fees
Oklahoma City doubled down on its Supreme Court fight with the State Corporation Commission over franchise fees that don’t have to be collected by utilities securitized as part of the Winter Storm 2021 bond cases. In response to the Commission’s late January filing asking for the city’s appeal to be thrown out by the …
Treasurer reports record high tax revenue for past year in Oklahoma
Tax revenue in Oklahoma resulted in a record high in the past year according to an announcement by State Treasurer Todd Russ. It also included increased revenue from oil and natural gas taxes. The 12-month gross receipts through January totaled $17.48 billion, an increase of nearly $2 billion or about 13% from the previous …
Biden speech gained no traction with Oklahoma’s congressional delegation
While Oklahoma Congressman Tom Cole was critical of the President’s State of the Union address for failing to mention energy production, others in the Oklahoma congressional delegation were also critical of the speech. Republican U.S. Sen. Markwayne Mullin said the speech was filled with “empty words, false promises and no solutions for the many …
OKC investment firm reaches $1 billion mark in 5 years
Infinity Capital Partners of Oklahoma City has surpassed $1 billion in completed transactions since its founding in 2016, highlighting the rapid increase in capital investments for local businesses in recent years. More than $800 million of the capital involved in Infinity’s closed transactions was sourced from out-of-state and invested in Oklahoma-owned businesses, impacting more than …
Rep Cole—Energy Production missing from State of Union address
What President Biden didn’t mention in his State of the Union address Tuesday evening is what concerns Oklahoma Republican Congressman Tom Cole. Energy production. In his response, it’s what Rep. Cole discussed in part, pointing out that the president “failed to mention a plan to unleash North American energy production to solve his self-created …
Ice storm damage assessment still underway in Arkansas a week later
The same severe weather that resulted in a major ice storm in South Texas also left an estimated 72,000 people without electrical power in Arkansas. The storm moved out of eastern Oklahoma last week and when it hit Arkansas it turned to ice and sleet. Damage is still being assessed according to the Arkansas …
Some Austin residents remain without electrical power following last week’s ice storm
Oklahomans have certainly dealt with their share of historic ice storms in years past, but in South Texas, it’s another matter. Perhaps it’s why there has been quite the political disturbance in Austin where 170,000 utility customers lost power last week and many of them are still in the dark. It even forced one …
GOP-led House committee to tackle ESG financial discrimination
A U.S. House Committee that includes Oklahoma Congressman Frank Lucas as a member, plans to target banks and financial institutions that promote environmental social and governance-risk factors as part of their investment process. The bills would be similar to Oklahoma’s new Energy Discrimination Elimination Act that took effect late last year and was created …
Headlines of other stories
** Rep. Alexandria Ocasio-Cortez on Tuesday failed to slow down the House Republican push for new oil and gas leases on federal land after GOP lawmakers shot down her attempt to require further study of the public health impacts of energy extraction. ** As Colorado River basin states struggle to come to an agreement over proposed …