Author's posts
Crude oil increases as Russian troops advance closer to Ukraine
As Russian troops advanced to within 3 miles of the border with Ukraine, tensions increased in the West and as a result oil prices rose on Monday. The stand-off between Russia and the West over Ukraine only added to supply concerns that have kept oil prices closer to the $100 barrel mark. U.S. markets …
Williams reports record 4Q and full-year 2021 results
Williams revealed its fourth-quarter financial report on Monday showing the quarter and the full-year to have record results, driven largely by the strength of natural gas focused strategy. The Tulsa-based company stated that fourth-quarter 2021 net income soared $506 million to $621 million or 51 cents a diluted year compared to the …
Headlines of other energy stories
** Marathon Petroleum Corp MPC.N said a fire at its 578,000 barrel-per-day (bpd) Garyville, Louisiana, refinery was extinguished on Monday afternoon. Five people were injured in the explosion and fire on Monday morning. ** Federal auditors announced an investigation Friday of how the government has dealt with lead contamination of drinking water in Benton Harbor, an impoverished, mostly Black city …
More utilities wait in line for storm cost securitization
Three more Oklahoma utilities could get support in their 2021 winter storm cost recovery plans as the Oklahoma Department of Finance Authority meets Wednesday to consider $2.27 billion in bond requests. The ODFA will consider bonding or securitization requests of $1.45 billion from Oklahoma Natural Gas, $725 million from Public Service Company of Oklahoma …
New Mexico lawsuit against EPA over gold mine pollution on hold
The state of New Mexico’s lawsuit against the Environmental Protection Agency stemming from the 2015 Gold King Mine spill is reported to be on hold. The state’s attorney general now says an agreement has been reached to settle New Mexico’s claims against the EPA reported the Farmington Daily Times. At the time of the …
From oil and gas to fast food—it’s Icahn’s latest battle
Billionaire investor Carl Icahn is at it again. After taking over Oklahoma-based SandRidge energy a few years ago followed by CVR Energy, he’s now attempting to land two seats on the McDonald’s board of directors. His proxy effort against McDonald’s came after Icahn slammed the fast-food restaurant chain for its handling of pigs in …
Lawsuit prompts Biden administration to freeze new drilling
In a weekend announcement, the Biden administration said it will suspend any decisions about new oil and gas drilling in the middle of a legal fight with 10 Republican states over how to calculate the cost of fossil fuel-driven climate change. The original lawsuit was brought by Louisiana, Alabama, Florida, Georgia, Kentucky, Mississippi, South Dakota, …
Oil and Gas industry’s recovery from COVID-19
A recovery from the COVID-19 pandemic by Oklahoma’s oil and gas industry is well underway says the head of the state’s largest energy group. Brook Simmons, president of Petroleum Alliance of Oklahoma points to investments by operators of all sizes as evidence of the growing recovery reported the Enid News & Eagle. Click here …
Oklahoma storm securitization plan roundly criticized in new study
A study of the cost-recovery methods used by utilities hit by Winter Storm Uri in 2021, the storm that left Texas and Oklahoma hard hit by extreme weather, shows Oklahoma’s method of securitization hits consumers hardest of the states that suffered in the storm. The storm was linked to more than 200 deaths in …
Broadband state agency to be created in Oklahoma?
Another layer of government bureaucracy at the Oklahoma state capitol is in the works as legislators are in reported talks with the governor’s office to create a new state agency to monitor broadband spending. The Oklahoman reported over the weekend such a proposed small agency would deal with the state’s millions of dollars it …
