Oil futures held their own in Monday’s trading as investors and analysts think not even an economic slowdown will ease the continuing supply crunch. Oklahoma energy stocks suffered as some experienced losses as high as 17%. West Texas Intermediate crude for July delivery went up 26 cents and finished the day at $120.93 a …
Category: General
Governors to testify about methane pollution
The governors of New Mexico and Wyoming will go before a House committee on Tuesday to testify about methane pollution from oil and gas production. The House Select Committee on the Climate Crisis will hear from New Mexico Gov. Michelle Lujan Grisham and from Wyoming Gov. Mark Gordon. The two will share perspectives on the …
GOP Reps say $5 gasoline was caused by Biden
When gasoline prices hit $5 a gallon over the weekend, it evoked some angry responses from House Republican Whip Steve Scalise and HEAT Co-Chairs Rep. Markwayne Mullin of Oklahoma and Rep. Jeff Duncan of South Carolina. They said the $5 gasoline was “directly caused by President Biden’s war on American energy.” “Meanwhile, instead of …
OSHA probes coal pile deaths in Colorado
The deaths of two workers in the collapse of a large coal pile at an electric generating station at Pueblo, Colorado is under investigation by a federal agency. Kyle Bussey and Phillip Roberts were working about 30 feet up on the 80-foot-tall coal pile when the surface collapsed and they were buried under tons …
Cole’s view of Biden’s economy—More Inaction on Inflation
Oklahoma Congressman Tom Cole responded to President Biden’s Washington Post op-ed about his “plan” to do something about inflation by suggesting the President doesn’t know what he’s talking about. Biden wrote that he had a plan to fight the historic inflationary crisis. Cole’s response? “Not only is this reaction too little too late—it is …
ONEOK gets $2.5 billion credit deal with Citibank
ONEOK announced it has a new lender. The Oklahoma-based company said it has a new amended and restated credit agreement with Citibank, N.A. as administrative agent to provide up to $2.5 billion revolving unsecured credit. A filing with the Securities Exchange Commission indicated the new agreement includes a $100 million letter of credit subfacility …
Headlines of other energy stories
** The average new car sold for $47,148 last month—close to December’s peak. ** U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street. ** Tesla competitor Electric Last Mile says it can no …
Dems still going after oil and gas industry
House Democrats are not giving up in their attacks on the oil and gas industry. In their latest move, leaders of House Natural Resources Committee requested documents be turned over from five public relations firms and the American Petroleum Institute applying to their work for fossil fuel companies. Arizona Congressman Raul Grijalva, a Democrat …
Oklahoma Energy Resources Board and OU collaborate to provide over $250,000 in scholarships
The people of Oklahoma Oil & Natural Gas are making a major investment in the next generation of energy innovators at the University of Oklahoma helping award more than $134,000 in scholarships to 28 students studying petroleum engineering or geology at the University of Oklahoma. The Oklahoma Energy Resources Board of OERB announced the …
What analysts say about Devon’s Williston acquisition
Some analysts admit they were taken somewhat by surprise by Devon’s recent acquisition of oil-producing sites in the Williston Basin. What surprised them is that they expected Devon to make an acquisition in the Permian Basin, not in North Dakota. Click here for Hart Energy