Crude oil prices dropped Wednesday, hitting a five-month low amidst the growing tensions between the U.S. and China in their tariff dispute over rare earth minerals. Adding to the pressure was the International Energy Agency prediction of a supply surplus in 2026. A forecast from Bank of America also rained on the parade, …
Category: Oil & Gas
Lankford says rare earths fight with China is a “wake-up” call
Oklahoma U.S. Sen. James Lankford stands behind President Trump and his latest threats to put an additional 100 percent tariff on products from China in the fight over rare earth minerals. “Yes, we should be playing hardball. We’re the biggest economy in the world,” explained the Republican Senator during a Wednesday morning interview …
GOP Lawmakers Clash Over Trump’s Energy Cuts
Oklahoma’s Republican delegation in Congress has remained quiet on the Trump administration’s decision to cancel $8 billion in green energy funding. But Republican lawmakers in other states are starting to object, warning that some of the cuts could harm energy innovation and local economies. GOP senators push to save projects The administration’s decision last week …
Energy Brief: U.S. Ethane Exports, Solar Cuts, EV Shifts
U.S. Ethane Exports Projected to Grow Through 2026 The U.S. Energy Information Administration (EIA) reports that ethane exports will expand sharply through 2026. Global demand for ethane as a petrochemical feedstock continues to climb, driven by production in Asia and Europe. The EIA said the growth stems from new U.S. export capacity, larger shipping vessels, …
Concerns Grow Over Water Use by Data Centers in Oklahoma
Oklahomans are increasingly worried about how much water new data centers will consume as artificial intelligence (AI) projects expand nationwide. The concern, voiced recently by Yukon residents, reflects a growing national discussion over balancing technological growth with natural resource sustainability. Yukon residents question future data center water demands At a recent city meeting, …
Prediction of 2026 oil glut sent prices falling Tuesday
A warning from the International Energy Agency of a huge supply glut in oil in 2026 sent crude oil prices falling 1.5% on Tuesday. At the same time, Oklahoma energy stocks had a mixed reaction. The EIA predicted the world’s oil market will face a bigger surplus in the coming year and it …
Tough economics for US lithium production–Dallas Bank
A study by researchers at the Dallas Federal Reserve Bank concluded that lithium developers are facing some tough economic challenges as they attempt to meet U.S. expectations to reduce reliance on China-dominated supply chains. The report identified 66 of such efforts across the nation to bring new lithium projects online but it did …
Deadly livestock saltwater purge attacked in Caddo County
By Mike W. Ray Southwest Ledger The Oklahoma Corporation Commission has vowed to “continue its operation” to collect and dispose of the saltwater discharging from a site in Caddo County for the past month “until such time as the flow stops,” agency spokesman Trey Davis told Southwest Ledger. The saltwater “purge” was flowing Oct. …
Stardust Power Names Director for Muskogee Refinery
New Leadership for Muskogee Lithium Project Stardust Power Inc., a leading lithium development company, has taken a major step forward in its Muskogee, Oklahoma project. The company announced that Kenneth Pitts will serve as Construction and Subcontracts Director, overseeing refinery construction and subcontract portfolios. Based in Houston, Pitts will direct large-scale onsite projects and coordinate …
Oklahoma Gas Prices Drop to Lowest in the Nation
Gas Prices Hit New Lows Across Oklahoma Oklahoma now has the cheapest gasoline in the United States. AAA reported the statewide average dropped to $2.55 per gallon, the lowest in the nation. Some drivers are finding even cheaper prices — Midwest City stations posted prices as low as $2.09, according to GasBuddy. This week’s average …