A review of the legislative process that created the Oklahoma Energy Discrimination Elimination Act, a 2022 law now suspended because of a Judge’s ruling in a lawsuit filed by a state retiree, revealed there was little interest in the economic impact of the law—other than protecting the state’s oil and gas industry. It appeared …
Category: Oil & Gas
Energy briefs
** The Biden administration said Tuesday it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer. The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. ** Broad majorities …
Biden orders sale of 1 million barrels of gasoline to lower prices
With national gasoline prices averaging $3.60 a gallon, the Biden administration, much like it did in 2022 with the release of oil from the Strategic Petroleum Reserve, announced a move designed to ease prices. Critics contend it is a political move designed to attract support for President Biden who is slumping in the polls. …
Texas LNG plant contractor files bankruptcy
Problems at the construction site of a large Texas liquefied natural gas plant. Zachry Holdings, the lead contractor for the plant being built by Qatar Energy and Exxon Mobil, filed for Chapter 11 bankruptcy protection on Tuesday. The firm shared most of the $10 billion project called Golden Pass LNG. Reports indicated it was …
Layoffs at Chesapeake Energy ahead of merger vote by shareholders
The same day that shareholders of Chesapeake Energy voted whether to approve a proposed merger with Southwestern Energy, Chesapeake confirmed the layoffs of 80 workers. The layoffs represented about 10% of the Oklahoma City company’s workforce, reported The Oklahoman. The company explained the layoffs came as a result of Chesapeake’s sale last year of its …
OGE crews remain in Houston area helping with power restoration after last week’s deadly weather
Three days after a team of 100 OG&E linemen and support personnel deployed to Houston, Texas, crews have been working around the clock to restore power as quickly and safely as possible to areas affected by last Thursday’s severe storm. Since arriving, OG&E crews have been assisting CenterPoint Energy and began working Sunday morning …
Shareholders to meet Wednesday for ONEOK and Gulfport Energy
Annual shareholders meetings for ONEOK and Gulfport Energy will be held Wednesday. ONEOK’s will be a virtual meeting starting at 9 a.m. Central Time. The shareholders are asked to vote on the election of 10 director nominees, ratification of Pricewaterhouse Coopers LLP as the independent registered public accounting firm for ONEOK and on …
Crude oil slipped 1% over growing worries about inflation and high interest rates
Analysts say lingering US inflation that is keeping interest rates higher for more time than investors prefer, also played a role Tuesday as crude oil prices dropped 1% in the day’s trading. High interest rates might be behind less consumer demand at the gas pumps. West Texas Intermediate crude, considered the US benchmark, …
Texas bridge damaged by barge reopen for traffic
The Galveston, Texas bridge shut down last week after a barge loaded with fuel broke free from a tugboat and smashed into it was reopened in recent days to traffic. The Associated Press reported that safety inspections found the Pelican Island Causeway span to be safe. Part of the bridge collapsed May 15 …
Damage trial underway in Osage County and tribal wind farm fight
A Federal Judge who ordered wind energy company Enel Green to remove 84 wind turbines and towers from the Osage Indian Reservation in Oklahoma, was scheduled this week to begin hearing arguments in a trial on damages in the case. U.S. District Court Judge Jennifer Choe-Groves, of the U.S. Court of International Trade, …