After second quarter net sales rose from $141million in 2021 to nearly $285 million in 2022, Oklahoma City’s LSB Industries plans to release its third quarter earnings report on Nov. 1, 2022. The firm plans to release the report after the close of the stock market on that Tuesday. LSB’s management will host …
Category: General
Increase in US crude oil production in first half of 2022
Data source: U.S. Energy Information Administration, Monthly Crude Oil and Natural Gas Production Note: Density is measured using the API gravity scale. In the first half of 2022, U.S. crude oil production averaged 11.1 million barrels per day (b/d), up from an annual average of 10.8 million b/d in 2021. Crude oil with a higher API gravity is …
Corporation Commission to meet Wednesday
Oklahoma regulators will meet Wednesday morning to consider finalizing some proposed changes in petroleum storage tank rules. Corporation Commissioners were presented with the changes last week but delayed a decision until Wednesday’s meeting at 9:30 a.m. They will also hold a discussion on the agency’s financial activity including a review of August 2022 financials. …
Higher diesel fuel prices mean higher costs for consumers
The cost of diesel fuel has a direct impact on consumers, whether they know it or not. When the cost of running a big 18-wheeler down the road goes up, so do the costs of the trucker and in turn the cost of shipping goods across Oklahoma and the nation. Whether it’s eggs, chickens, …
Other headlines
** Senate Foreign Relations Committee Chairman Robert Menendez called Monday for freezing all U.S. cooperation with Saudi Arabia, delivering one of the strongest expressions yet of U.S. anger over Saudi oil-production cuts that serve to boost Russia in its war in Ukraine. ** JPMorgan CEO Jamie Dimon said the US should pump more oil amid the world’s …
Biden’s agreement rejected by rail union raising specter of a strike
The Biden White House might be getting nervous over the temporary agreement it reached last month to avert a possible nationwide railroad strike, after the country’s third-largest freight rail workers union rejected the deal this week. It means there still could be a strike next month after the Brotherhood of Maintenance of Way Employees Division …
Not kidding—New Zealand wants tax on farting cows
The idea that farting cows are adding to greenhouse gas emissions of the world was so preposterous when promoted by Congresswoman Alexandria Ocasio-Cortez, she was nearly laughed out of the U.S. House. But the government of New Zealand has taken the discussion a giant step further by actually proposing to tax the greenhouse gasses …
Crude oil prices fell Monday while OK energy stocks were mixed
After five straight days of gains, crude oil prices dropped by 2% on Monday. The reason? Investors are growingly worried about a likely global recession and how it will weaken demand for fuel. Meanwhile, Oklahoma energy stocks were mixed with some recording 3% losses while a few had gains of more than 3% and 4%. …
Gasoline prices continue to increase in Oklahoma
Gasoline prices rose by another 12 cents in the past week in Oklahoma, reaching a new average of $3.55 a gallon according to the American Automobile Association. And some experts believe prices will continue to climb because of last week’s action by OPEC+ to reduce oil production by 2 million barrels a day. While …
Clinton Treasury Secretary—cancelling Keystone a mistake!
A mistake. It’s what economist Larry Summers says about the decision to kill the Keystone XL pipeline. Summers served as treasury secretary under former President Bill Clinton and was the director of the National Economic Council under former President Barack Obama. He admitted during a Friday interview on Wall Street Week that cancelling the Keystone …