Pot growers in Colorado are using so much electricity, it’s left one major utility asking for more funding from a state program that funds business customers’ efficiency upgrades. Xcel Energy says it’s already spent most of its current budget on indoor cannabis growing operations. As a result, the utility suspended all programs for …
Category: General
Energy briefs
** The Biden administration is approving a major electric power transmission project as well as a solar project in Nevada, it announced Monday. The Greenlink West Transmission Project will create a system of new power lines from North Las Vegas to Reno. When completed, the project could transmit enough energy for 4.8 million homes. ** U.S. House representatives from …
Crude oil plummets to lowest levels in 3 years
Crude oil prices hit their lowest level since December 2021 after trading ended on Tuesday. Each fell nearly 4%. It came after OPEC+ reconsidered and lowered its demand forecast for 2024 and 2025, a move that offset supply worries from Tropical Storm Francine, according to Reuters. The final results? West Texas Intermediate crude dropped $2.96 …
OGE crews called for hurricane help in Louisiana
OG&E crews are off on another rescue mission—this time to help support the Entergy utility company in Louisiana as it braces for the arrival of Tropical Storm Francine which could grow to a Category 1 hurricane by Wednesday afternoon or evening. The storm could carry up to 100 mph winds when it makes landfall. …
EIA anticipates return to $80 oil
Will crude oil prices rebound back into the $80 range? The U.S. AEnergy Information Administration thinks so. The EIA came out this week with its review of oil prices and stated it expects that Brent crude oil prices will return to above $80 per barrel this month, after dipping to $73 per barrel on …
South I-35 corridor in Oklahoma to be focus of major widening project
Oklahoma Transportation Commissioners were cautioned this week that traffic problems along the I-35 corridor to the Red River in Southern Oklahoma will need close observation as Oklahoma moves forward with Texas in widening the interstate. “We’ve got a lot of things happening down there that we’ve got to pay attention to.” Tim Gatz, Executive …
More than $524 million offered for Gulfport Energy Corporation’s senior notes
Oklahoma City’s Gulfport Energy Corporation announced the final results and expiration of the previously announced cash tender offer by Gulfport Energy Operating Corporation, a wholly owned subsidiary of Gulfport, to purchase any and all of the outstanding 8.0% Senior Notes due 2026 of Gulfport Operating. As of 5:00 p.m.on Monday, New York City …
Lucas supports bill targeting Red China’s theft of American research and technology
The U.S. House passed a bill this week to protect America’s federal research agencies and universities from foreign threats, a measure Oklahoma Congressman Frank Lucas says is aimed at Red China and its research thefts. Lucas chairs the House Science and Technology Committee and spoke on the House floor in support of H.R. 7686, which is …
Valor Energy wraps up asset acquisitions in Oklahoma Panhandle and SW Kansas
The Dallas-based company, Valor Energy Partners, LLC, has completed the acquisition of the Northwest Flats Unit, a water flood project development located in Texas County, OK and Morton County, KS in a privately negotiated transaction. It is a deal that gives Valor more holdings in the Oklahoma Panhandle and southwest Kansas. Morton County’s largest …
Investors might back off energy projects as courts reject permits
Two recent decisions by the courts in cases that went against energy permits could have a harmful effect on the energy industry—especially oil and gas. That’s the opinion of some who reviewed the decisions. In question were permits approved by federal regulatory agencies but later overturned by court challenges of environmental groups. Click here …