Carl Icahn, the investor who owns SandRidge Energy and most of CVR Energy in Oklahoma came out with a dire warning for investors this week, predicting a recession is likely on its way in this country. “The worst is yet to come,” he told Marketwatch at the Best New ideas in Money Festival …
Category: Oil & Gas
Oklahoma energy stocks felt the pain of tumbling crude oil prices
What will oil prices do to start the week? Anything might be better than the 5% plunge on Friday where crude price dropped to an 8-month low and left Oklahoma energy stocks reeling. It came as the U.S. dollar hit its strongest level in more than two decades and growing fears that increasing interest …
Other energy headlines
** Stephen Chazen, an industry veteran whose career included leading Occidental Petroleum Corp. and the founding of an independent Texas oil and gas producer, died on Sept. 23 at the age of 76. ** California is committing to a plan that will make it the first US state to phase out gas-fueled furnaces and water heaters …
Commissioner says ‘special interests’ were behind winter storm bonds used by utilities
Oklahoma Corporation Commissioner Bob Anthony issued a statement Thursday again condemning the winter securitization bond projects totaling $3-$4 billion used by utilities to cover their 2021 winter storm costs. His statement was critical of the two commissioners who approved the steps to allow OGE, ONG, PSO and Center Point Energy to take advantage of …
Pipeline protester sentenced to 6 years in federal prison
Nearly six years after Ruby Montoya joined protesters of the Dakota Access Pipeline and tried to destroy it, she was sentenced this week to six years in federal prison. Sentencing came in federal court in Des Moines, Iowa where Montoya was also ordered to pay $3 million restitution to the owner of the controversial …
Oklahoma energy stocks fell as crude oil made a 1% gain on Thursday
Crude oil managed a 1% gain on Thursday while Oklahoma energy stocks went the other way, recording losses, including a 16% drop by one firm. The gain in crude came as investors focused on Russian oil supply concerns and growing Chinese demand. At the same time, the Bank of England didn’t raise interest rates …
Farmington goes to court to force takeover of coal-fired power plant
The city of Farmington, New Mexico filed suit this week as it seeks to take ownership of the San Juan coal power plant and keep it running beyond its scheduled Sept. 30 closure. The Farmington Daily Times reported the lawsuit was filed against Public Service Co. of New Mexico and other co-owners of the coal-fired power …
ConocoPhillips gets congressional supporters for Alaska oil project
ConocoPhillips got a major boost of support in its Willow oil and gas project in Alaska as the state’s congressional delegates, including newly elected Democratic Rep. Mary Peltola urged the Biden administration to approve it. The delegation sent a letter to Interior Secretary Deb Haaland asking her to approve the proposed oil development project in the …
PSO executive gets big promotion in AEP
Some major executive appointments were announced this week by American Electric Power and for one PSO executive in Tulsa, it means a major promotion. Peggy Simmons, currently president and chief operating officer (COO) for Public Service Company of Oklahoma (PSO), has been named executive vice president – Utilities. AEP’s seven utility company presidents and …
Democrats block Lankford’s call to continue sanctions against Iran
Democrats wouldn’t have anything to do with Oklahoma U.S. Sen. James Lankford’s call this week to continue the country’s current sanctions targeting Iran’s oil industry, financial sector and supporters of terrorism. He introduced the Iran Sanctions Preservation Act to prevent President Biden from lifting sanctions on the Iranian regime. He proposed the Senate pass …
