** Ford plans to temporarily shut eight factories due to a global shortage of semiconductor chips, according to an internal memo viewed by CNBC. The automaker told CNBC that it plans to cut production due to the chip shortage, including its Ford Mustang, Bronco Sport SUV, and F-150 pickup models. ** Montana Gov. Greg Gianforte vetoes a bill …
Category: Oil & Gas
Shareholders nix Halliburton’s executive compensation plan
Sometimes shareholders of oil and gas companies put their feet down such as what Halliburton Co’s shareholders did this week by voting down the company leadership’s executive compensation plan. Halliburton Chief Executive Officer Jeff Miller said the company was “disappointed by the shareholder advisory vote” and that it had led its peers in shareholder …
How some oil and gas firms came to love Bitcoin mining
Flaring. Oil and Gas. Bitcoin mining. They all combine for a new kind of mining that helps some oil and gas firms reduce the amount of their controversial flaring and at the same time, provide jobs and warmth in the northern climates of the U.S. It’s become something of a fascinating development recently explored …
Williams and Transco get 2-year FERC extension
Federal energy regulators approved a two-year extension for Tulsa-based Williams Companies and its Transcontinental Gas Pipe Line Company, LLC to finish and make operational its $1 billion expansion of the line’s infrastructure. The Federal Energy Regulatory Commission issued the approval despite opposition of the extension of the 10,000 mile interstate transmission system that transports …
Texas’s Oil and Gas industry defends its billions in subsidies against a green energy push
The legislature in Texas is in the midst of a great debate over subsidies for energy—those for oil and gas and those for the renewables such as wind and solar. The oil and gas industry has received subsidies for decades and now some of its leaders are making the claim that wind and solar …
Energy news in brief
** The Colonial Pipeline confirms it paid $4.4 million to hackers after a ransomware attack on its computer systems. ** U.S. lawmakers plan to introduce a bill that would create a tax credit for lower-carbon sustainable aviation fuel, which they hope will slash emissions of greenhouse gases from the aviation industry. ** Houston’s Ranger Energy Services announced …
Crude oil prices tumbled for a 3rd day
Crude oil prices dropped again in Thursday’s trading for a third straight day, tumbling nearly $5 a barrel since the beginning of the week. Why the continuing fall? Analysts say it’s because of the growing concern about inflation and what the government is doing or not doing about it. West Texas Intermediate crude for …
Nation’s rig count plummets
The U.S. dropped 21 active rigs in the last week for a count of 517 rigs as of May 19, according to Enverus Rig Analytics. The drop in rig numbers included Oklahoma’s Anadarko Basin. The Austin, Texas-based company that computes rig counts stated that the count is flat on the month but still up …
Lankford says Biden just committed another huge mistake
There’s a reason Vladimir Putin is smiling. Oklahoma U.S. Sen. James Lankford says that’s because President Biden made him and the Kremlin very happy by lifting sanctions on the Russian Nord Stream 2 pipeline. Lankford called it “another huge mistake” by Biden after he first blocked the Keystone Pipeline from Canada to the U.S. …
GOP Representative labels a House hearing into oil and gas a “publicity stunt” by Democrats
A House subcommittee hearing Wednesday led by an anti-oil and gas California Democratic congresswoman, a hearing where Devon Energy and other major firms refused to participate, turned into something of a partisan brawl according to POLITICO. If you recall, as OK Energy Today reported earlier this week, Devon Energy’s CEO Rick Muncrief was one …