The governor of Colorado wants the state to do more toward development of geothermal energy. That’s why Gov. Jared Polis recently announced the award of $7.7 million to 35 different projects through Colorado’s Geothermal Energy Grant Program. The goal of the program is to advance the deployment of zero-emissions efforts in the state. “We’re …
Category: Oil & Gas
Energy briefs
** The federal government agreed to a $15 million fine for Norfolk Southern over last year’s disastrous derailment in East Palestine, Ohio, and the railroad promised to pay more than $500 million to complete the efforts to improve safety that it announced after the crash and address community health concerns. ** Tesla has left out its goal of delivering …
Anxiety over high interest rates leads to 4 straight days of crude oil price declines
Make it four consecutive days of losses for crude oil prices as they dropped nearly 1% on word U.S. interest rates will be around longer than many hoped. Oklahoma energy stocks recorded drops as well. Prices fell to multi-month lows as analysts and investors fear the continued high interest rates will result in lower …
Drummond and other GOP attorneys general set up red state climate change battle against blue states
Oklahoma Attorney General Gentner Drummond was among 19 attorneys general who responded this week to climate lawsuits brought by the states of California, Connecticut, Minnesota, New Jersey and Rhode Island against the oil and gas industry. The Republican attorneys general went to the U.S. Supreme Court and in a motion filed Wednesday, made the argument that …
Study shows regional banks are increasing lending to oil and gas clients
A study by Pickering Energy Partners shows banks across the U.S. are backing away even more from their climate goals and previous discrimination of the oil and gas industry. Regional banks are actually increasing their efforts to finance the energy industry, rather than using ESG or Environmental Social Governance policies to avoid …
Gasoline prices are 1% higher than Memorial Day weekend of last year
On May 20, 2024, the Monday before Memorial Day, the retail price of regular gasoline averaged $3.58 per gallon (gal) across the United States, 1% higher than at the same time last year. The average price in Oklahoma was $3.12 this week. The U.S. Energy Information Administration reported that after adjusting for inflation (real …
Energy briefs
** Sen. Sheldon Whitehouse (D-R.I.) and Rep. Jamie Raskin (D-Md.) are asking the Justice Department to look into the oil industry’s handling of climate change after their own investigation. ** A group of state financial officers and other public and labor leaders called on Tuesday for major asset managers to vote against top Exxon directors, citing the …
Three straight days of losses for crude oil prices
Crude oil prices dropped Wednesday for a third straight day this week and Oklahoma energy stocks suffered as well. The declines came as investors responded in kind when Fed officials indicated there might be a delay in any possible interest rate cuts. As a result, higher rates mean tighter money for economic growth and any …
Surprise buildup of crude stocks at Cushing Hub and the U.S.
A surprise buildup of U.S. crude stocks resulted Wednesday in an extension of the losses crude oil prices recorded a day earlier. The U.S. Energy Information Administration reported that nationally, crude stocks increased 1.8 million barrels from the 457 million barrels in storage as of May 10 to the 458.8 million barrels reported May …
Devon Energy joins others in funding STEM center to help minority students
Urban League of Greater Oklahoma celebrated the opening of a new science, technology, engineering and math (STEM) Center funded in part by Devon Energy. This innovative learning space is provided through a partnership between Devon Energy and the Cal Ripken, Sr. Foundation. The STEM Center supports the organization’s mission to bring social and economic …