The government now is aiming for March to begin replenishing the nation’s Strategic Petroleum Reserve which is at its lowest level in decades. After using 180 million barrels of crude oil to lower gasoline prices instead of the original purpose for national security emergencies, the Biden administration announced Friday it intends to buy 3 …
Category: General
Gasoline prices are at 11 month low—down to $2.19 in OKC
The nation’s gasoline prices hit an eleven month low this week, falling to a national average of $3.16 as of Saturday morning, while Oklahoma’s average is $2.71 per gallon. But some Oklahoma City gas stations offered the fuel at $2.19 per gallon. AAA analysts say it is possible that the national average could fall …
Scientist measures wind farm wind speeds in northern Oklahoma
In northern Oklahoma sits a special radar site with a specific goal of measuring the flow of wind through some of the neighboring wind farms. It is maintained and operated by the Texas Tech University National Wind Institute and is located about 10 miles east of Enid. The U.S. Department of Energy funds the …
Oklahoma Wildlife Director makes surprise resignation
Former executive director of the Oklahoma Water Resources Board, J.D. Strong unexpectly quit his latest state job in the past week—that of director of the Oklahoma Department of Wildlife Conservation. “After much prayer, and after more than 31 years of state service, I have deided to step down as Director of the ODWC, effective …
Crude rose on Friday but not enough to offset a 7th straight week of declines
Crude oil prices finally made some gains on Friday, increasing by 2% but they still were down overall for the seventh consecutive week, largely because investors are concerned about an oversupply of crude oi. It turned out to be the longest streak of weekly declines in half a decade. West Texas Intermediate, the US benchmark, …
Feds fund study into possible rail passenger service between Oklahoma and Kansas
Among more than $8 billion in rail passenger projects announced Friday by the U.S. Department of Transportation’s Federal railroad Administration is a study into possibly extending rail passenger service from Oklahoma City north to Newton, Kansas. The FRA announced it awarded $8.2 billion for 10 passenger rail projects across the country and also funding …
Treasurer vows to enforce Oklahoma’s anti-ESG law—responds to lawsuit
After being hit with a lawsuit because of the state’s anti-ESG law, Oklahoma Treasurer Todd Russ responded Friday, saying he will continue enforcing the law and improving Oklahoma’s economy and public investments through time-tested strategies. In a statement released by his office, the Treasurer wrote, “Keeping ESG out of investing is necessary due to …
Rig activity remains steady in Oklahoma and the US
Oil and gas rig activity remained steady in Oklahoma over the past week while the rig count across the nation gained by one to reach 626, reported Baker Hughes Co. on Friday. Oklahoma was unchanged with a count of 38 rigs. A year ago, there were 69 oil and gas rigs active in the …
Quick reads
** The Biden administration plans to set strict requirements on the sources of carbon-free electricity used by hydrogen producers seeking lucrative federal incentives, according to news reports citing leaked information regarding long-awaited rules for the Inflation Reduction Act’s clean hydrogen tax-credit program. ** Chrysler-parent Stellantis said it is seeking to void a 2019 California emissions …
Thursday brought more falling crude oil prices and they’re down to a six-month low
Crude oil prices dropped Thursday to six-month lows as global benchmark Brent crude fell closer to $70 a barrel rather than $80. Investors are reported to be worried about sluggish energy demand in the US and China, even though output in this country is near record highs. Brent dropped 25 cents and settled at $74.05 …