One of Oklahoma Sen. James Lankford’s colleagues on the Senate Energy and Natural Resources committee, Sen. John Barrasso of Wyoming accused President Biden of politically abusing the nation’s Strategic Petroleum Reserve. “Instead of unleashing more American energy, President Biden uses America’s emergency reserves to solve a short-term political problem,” said the Republican Senator in …
Category: Oil & Gas
Oklahoma’s gasoline tax is below national average
Ever wonder how Oklahoma’s gasoline tax stacks up against other states? The U.S. Energy Information Administration released its newest update of Federal and state motor fuels taxes table showing state gasoline taxes ranged from as low as 8.95 cents per gallon (/gal) in Alaska to as high as 65.1 cents/gal in California on July 1, …
Other energy headlines
** While US gasoline prices have come down from the highs seen this summer, they’re clearly still weighing on President Joe Biden, who on Monday repeated demands for oil companies to charge less. ** VAALCO Energy, Inc. in Houston announced that the Government of Equatorial Guinea has approved the Venus – Block P Plan of Development …
Ovintiv keeps finding major producing wells in Kingfisher County
Ovintiv USA Inc., the company with a growing reputation of finding big producing wells in Oklahoma’s STACK play did it again. It recently filed completion reports on three wells drilled on a single pad with combined production approaching nearly 4,000 barrels of oil a day. Natural gas production from the Rosia wells in northern …
New Mexico’s hydrogen economy gets a shot in the arm from federal money
New Mexico’s hydrogen economy is getting a boost from federal incentives which in turn leaves Albuquerque-based BayoTech leaders with expectations of building half a dozen hydrogen hubs in the coming year. The Albuquerque Journal reports that the 7-year old company will make its first major effort to enter commercial markets with its compact mobile …
Nine-month low hit by falling crude oil prices while losses hit OK energy stocks
Crude oil prices took a $2 drop on Monday and settled at nine-month lows while Oklahoma energy stocks recorded losses—some as much as 7%. The strengthening dollar put more pressure on the market as investors await details of new sanctions on Russia. West Texas Intermediate for November delivery fell $2.06 or 2.3% to settle …
Latest in court fight between Continental Resources and Perpetual Production
The federal court legal fight between Continental Resources and Perpetual Production took another step in recent days. Perpetual refiled a petition asking an Oklahoma City federal judge to order Continental to pay for trespassing at Perpetual’s offices according to a report by The Oklahoman. Click here for The Oklahoman
Rep. Bice targets Biden for his “anti-American” energy policy
Oklahoma Congresswoman Stephanie Bice says President Biden’s “anti-American energy policy” is behind skyrocketing energy prices and inflation. It’s what she recently said during an interview on Newsmax and the Spicer & Co. show. “The Northeast has a real issue with pipelines. They are unwilling to allow permitting or just flat-out refuse to lay pipe. And because …
Biden might not want them, but rest of the world wants US oil and gas products
The U.S. exported the most petroleum products, most of it propane, in the first half of 2022 than it has in 49 years, and some of it came no doubt from Oklahoma’s oil patch. While environmentalists and those pushing for ‘green’ energy, including President Biden, have condemned the oil and gas industry, it’s clear …
Other headlines
** A U.S. Treasury official has ruled out secondary sanctions to enforce a price cap mechanism on Russian oil exports despite a proposal last week by U.S. senators. ** Brent oil prices could head back toward $100 a barrel as supply grows tighter in the coming months, JPMorgan said. Analysts expect oil demand to rebound by …