A new report from the government revealed U.S. propane consumption in the most recent winter was the lowest total since 2010, largely because of warmer weather across much of the nation. The U.S. Energy Information Administration reported consumption averaged 0.986 million barrels a day during the 2022-23 winter heating season, which is October …
Category: General
Study ranks banks for their ESG lending policies
Not long after Oklahoma Treasurer Todd Russ notified 13 financial institutions they were no longer eligible for state contracts because of their ESG policies and anti-oil and gas industry financing, a study was released ranking 40 institutions for their lending practices. It was released by the Committee to Unleash Prosperity which studied the proxy …
Truckers to face more drug testing beginning in June
Just as the nation’s transportation industry experiences a shortage of big rig trucker drivers, the federal Transportation Department is expanding drug tests for those behind the wheels of the big rigs. The DOT announced earlier this month it approved a change to drug testing that will allow employers to include oral fluid testing. It …
Increase in crude oil in storage at Cushing Hub
Crude oil supplies at the Cushing Hub in Oklahoma recorded a gain of 1.5 million barrels in the past week according to the latest report from the U.S. Energy Information Administration. The EIA reported Cushing held 35.5 million barrels as of May 12 of this year compared to 34 million on May 5. Cushing’s …
Biden vetoes GOP effort to restore solar panel tariffs
President Biden delivered a blow to Oklahoma’s congressional delegation and others that sent him a resolution to reinstate tariffs on solar panel imports from Southeast Asia. Oklahoma’s members of the U.S. House and Senate voted in support of the resolution that represented a long-running fight with the White House about punishing China over trade …
Brief energy news
** President Biden vetoed a bipartisan resolution Tuesday that would have reversed his executive action last year ordering the Department of Commerce not to enforce tariffs on Chinese solar panel manufacturers for two years. Biden explained that the legislation — which recently passed the House and Senate with Democratic support — “bets against American innovation.” …
Shell expands renewable energy acquisitions with New Mexico wind power purchase
Oil and gas giant Shell plans to buy renewable power from a New Mexico windfarm. The SunZia windfarm built by Pattern Energy is located in Lincoln, Torrance and San Miguel counties. The purchase by the British multinational oil major is a continuation of its expansion of the acquisition of solar and wind power reported the …
Mitchell Talks Energy
What’s on Scott Mitchell’s mind as he talks energy with Jerry Bohnen of OK Energy Today? One of the subjects is ONEOK’s nearly $19 billion acquisition this week of Magellan Midstream. Join Mitchell and Bohnen as they delve into other energy subjects and who knows what!
Big 5-well project for Continental Resource in Garvin County
Continental Resources filed reports this week showing a recent completion of a 5-well single pad drilling project in Garvin County that produced more than 3,300 barrels of oil a day. The company also filed amended reports on three Grady County wells, changing their classification to gas production. The biggest project was the drilling of …
Tuesday was a weak trading day for crude oil prices and Oklahoma energy stocks
Crude oil futures dropped again in Tuesday’s trading as weaker-than-expected economic data in China and the US offset a forecast of higher global demand from the International Energy Agency. At the same time, all but 2 of the Oklahoma energy stocks we follow daily managed gains. The rest endured losses. West Texas Intermediate crude …