Oklahoma Corporation Commissioners were left with a lot of questions about tax deferment and the impact on consumers when they held a special meeting Monday regarding a Public Service Company rate case. At the heart of the hearing was the question whether PSO could transfer tax benefits from consumers to stockholders. Thomas Schroedter, President …
Category: Oil & Gas
New York Governor under more pressure from gas line opponents
Here’s why Williams Cos. CEO Alan Armstrong recently expressed reluctance to revive efforts at the urging of President Trump to build a natural gas pipeline into New York State where Williams had previously been rejected. Activists in the lower Hudson Valley are applying more pressure on New York Gov. Kathy Hochul to stand up …
U.S. natural gas consumption set new winter and summer monthly records in 2024
The federal government reported this week that U.S. natural gas consumption averaged a record 90.3 billion cubic feet per day in 2024 and as a result set winter and summer monthly records in January and July. The U.S. Energy Information administration made the claim in its Natural Gas Monthly. Overall, U.S. consumption last year increased …
Energy briefs
** President Trump is threatening more tariffs on Russian oil.“If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia’s fault — which it might not be — but if I think it was Russia’s fault, I am going to put secondary tariffs …
Oil and gas industry skeptical about Trump’s Drill baby Drill push
If comments from oil and gas operators surveyed by the Dallas Federal Bank in its recent report are any indication, the industry isn’t welcoming President Trump’s “Drill, baby, drill” efforts with open arms. That, or else the industry is skeptical at best. Consider these comments from some of those who responded to the recent …
Trump deportation judge also rules against Indian tribe in fight against Dakota Access pipeline
The same federal judge who ruled against President Trump’s deportation plans and is facing calls for his impeachment has ruled against the Standing Rock Sioux Tribe’s lawsuit against the Army Corps of Engineers in the fight to close the Dakota Access Pipeline. U.S. District Judge James Boasberg ruled the tribe has to wait until …
Western Oklahoma sees increased drilling activity
Three of the nation’s oil and gas plays saw gains in drilling activity in the past week and one was in Oklahoma. The plays included the Granite Wash in western Oklahoma and the Texas Panhandle where the latest Baker Hughes rig count showed a gain of one for a total of 10 active rigs. …
Bipartisan bill wants to expand tribal energy access
Indian tribes in Oklahoma and others across the U.S. would have greater tribal access to federal energy programs under a bill filed by U.S. Sens. Brian Schatz (D-Hawaii) and John Curtis (R-Utah). They filed the Tribal Energy Fairness Act which seeks to address barriers and streamline technical processes in existing Department of Energy (DOE) …
Oklahoma regulators to hold special meeting Monday morning
Oklahoma Corporation Commissioners plan a special Monday morning meeting to address opposition to a complicated Public Service Company of Oklahoma rate matter. Commissioners, in their 9:30 a.m. meeting will delve into PSO’s application PUD2024-000032 to address a Private Letter Ruling from the IRS that was part of the company’s original request for a Net …
Empire Petroleum releases 2024 financial results
Empire Petroleum is out with its fourth quarter and 2024 full year financial reports showing total production revenue of $44 million for the year and a net loss of $16.2 million or 54 cents a share. It was still an improvement over 2023 results when the company had a net loss of $12.5 million, …