Despite increased calls for TC Energy to attempt a resumption of construction on the cancelled Keystone XL pipeline in light of the U.S. ban on purchases of Russian crude oil, the Canadian company is standing firm…it will not proceed. It’s the response of the company reported South Dakota Public Broadcasting. Click here for SDPB
Category: General
Colorado regulators reject Kerr-McGee residential drilling plan
The Colorado Oil and Gas Conservation Commission turned aside Kerr-McGee’s request to drill closer than 2,000 feet to homes and nearby schools. It was considered the first major test of Colorado’s requirement that oil and gas drilling be set back at least that distance from residential areas. The Colorado Sun reported the application included …
Oklahoma, Arkansas and Louisiana form hydrogen hub effort
Oklahoma has joined Louisiana and Arkansas in plans to develop a “hydrogen hub” supported by $8 billion in the 2021 federal infrastructure bill. “Oklahoma is honored to join in forming this partnership, not because of convenience, or necessity, but rather because we share a similar vision and goals for the production, use, and economic impact …
Senators introduce bill to ban oil from Iran and Venezuela
A handful of Republican U.S. Senators, Sen. James Lankford of Oklahoma among them say the U.S. should not consider importing any crude oil from either Iran or Venezuela. To make their point, they have introduced the Preempting Misguided Appeasement and Financing of Destabilizing Regimes Act. The bill would prohibit the importation of Iranian and Venezuelan crude …
Crude oil falls again but remains well above $100
Crude oil prices slipped again in Thursday’s trading as the fighting grew bloodier in Ukraine where Russian forces continued their war. It remains curious to describe prices as “falling” yet they remain well over the $100-a-barrel mark. Analysts described it as a volatile session that resulted in the lower prices. West Texas Intermediate crude …
Ascent Resources makes improvements over net losses
Ascent Resources Utica Holdings, LLC reported fourth quarter 2021 earnings of $1.1 billion in net income, along with $76 million in adjusted net income and $283 million in adjusted EBITDAX. The Oklahoma City company said its net income in the quarter was largely driven by a $1.1 billion unrealized commodity derivative fair value …
Manchin—US must unleash its vast energy resources to counter Putin’s weaponization of energy
West Virginia U.S. Sen. Joe Manchin didn’t pull any punches during a Thursday hearing of the Senate Energy and Natural Resources Committee hear chairs. The Democrat, who’s been a thorn in the side of President Biden’s more liberal approaches against the oil and gas industry told the committee and its witnesses the U.S. should …
Additional energy headlines
** Sen. Bill Cassidy of Louisiana unveiled an energy policy proposal he equated to the Trump administration’s “Operation Warp Speed” vaccine development program to address soaring energy prices. His proposal included streamlining the permitting process for energy development at agencies such as the Environmental Protection Agency, similar to the regulatory streamlining put in place to rapidly develop …
Texas legislators want more regulatory control on natural gas industry
Last year’s deadly February winter storm in Texas prompted legislators this week to agree—there should be more regulatory control over the state’s oil and gas industry. It’s what members of a Texas Senate Committee voiced as they discussed concerns about the role natural gas providers played in the storm disaster reported KDFW TV. Click …
South Texas to get solar and wind farm operation
One of the latest renewable energy farms in South Texas is going up courtesy of a Danish company. The Orsted company from Denmark is building 66 wind turbines in northern Bee County just north of Corpus Christi and not far where it is also building a one-million solar panel operation according to KIII TV. Click here …