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Crude oil unsettled in Thursday’s trading while OK energy stocks fell
Thursday’s crude oil prices reflected growing worries about inflation and its impact on the demand for oil. While US prices managed a small gain, overseas prices fell. West Texas Intermediate crude for November delivery went up 43 cents or .50% to settle at $85.98 a day on the New York Mercantile Exchange. Global benchmark …
Oklahoma joins probe of Net-Zero Banking Alliance
Oklahoma Attorney General John O’Connor announced that his office and 18 other attorneys general have served six major American banks with civil investigative demands, which act as a subpoena, asking for documents relating to the companies’ involvement with the United Nations’ (UN) Net-Zero Banking Alliance. The banks under investigation include Bank of America, Citigroup, Goldman …
Partnership promotes energy jobs in Oklahoma
This week was Careers in Energy Week as Oklahoma Gas and Electric and Oklahoma State University-Oklahoma City joined efforts to encourage job seekers to explore energy work as a career path. Specifically, those taking part in the job-seeking were encouraged to consider employment from chemical and electrical engineering to oil rig and electric utility …
Details of Harold Hamm’s takeover of Continental Resources
Details of Harold Hamm’s $4.3 billion takeover of Continental Resources were made known this week in filings with the U.S. Securities Exchange Commission. In two separate filings, Hamm and his Omega Acquisition, Inc., the firm merging with Continental Resources to complete the takeover, offered detailed ownership of company shares by the Hamm family and members …
Solar farms to be new source of tax revenue?
While the Oklahoma Supreme Court ruled this week against taxing production tax credits used by the state’s wind farms, legislators in nearby Missouri are exploring how to tax solar energy farms, a matter arising from a Missouri Supreme Court ruling. The high court in Missouri ruled in August that a 2013 state law granting …
St. Louis battery firm gets $197 million government grant
One of the projects funded in the Biden administration’s $2.8 billion in grants to increase domestic manufacturing of batteries for electric vehicles is in St. Louis, Missouri and a subsidiary of a firm headquartered in Israel. ICL-IP America Inc. is one of 20 firms that received grants for project to extract and process lithium, …
Congressional delegation quiet about Biden’s latest oil move
They’ve been critical of the President’s use of the Strategic Petroleum Reserve in the past. But Oklahoma’s congressional delegation was mostly quiet after President Biden announced Wednesday the planned December release of 15 million more barrels of oil from the Reserve. Tulsa Rep. Kevin Hern tweeted his criticism of the oil release, saying, “The …
US offshore wind energy industry to boom in next few years
Imagine an energy workforce booming from a thousand jobs in 2022 to nearly 58,000 in about 8 years. It’s what the National Renewable Energy Laboratory based in Colorado is predicting for the U.S. offshore wind workforce. It estimates the offshore wind industry will need between 15,000 and 58,000 full-time jobs every year beginning in …
Archaeological surveys to be required for oil and gas drillers in New Mexico
Beginning in December, New Mexico will have a rule in place requiring oil and gas drillers and those building pipelines or roads, to carry out archaeological or cultural surveys. The New Mexico State Land Office finalized the rule that takes effect Dec. 1, 2022 Land Commissioner Stephanie Garcia Richard said the new regulation will …
Dividend declared by ONEOK
Investors in ONEOK, Inc. are getting another dividend. The board of directors of the company declared a quarterly dividend of 93.5 cents per share. The amount is unchanged from the previous quarter and results in an annualized dividend of $3.74 per share. In making the announcement, ONEOK officials explained the dividend will be payable …