Oklahoma Congressman Josh Brecheen is targeting the Biden administration over new rules requiring big trucks to have speed limiting devices. The U.S. Representative introduced the Deregulating Restrictions on Interstate Vehicles and Eighteen-Wheelers (DRIVE) Act, which would prohibit the Federal Motor Carrier Safety Administration (FMCSA) from implementing any rule or regulation requiring vehicles over 26,000 …
Category: General
Market volatility might result in Chesapeake Energy delay in more new wells
Leadership at Chesapeake Energy hinted strongly this week it might hold off on bringing more wells online if low natural gas prices continue to be a challenge. Executives informed those on a conference call that they anticipate still more volatility in the natural gas markets. Chesapeake said it had opted to conduct some maintenance …
Quick reads of other energy stories
** Firms that haul freight across the San Diego-Tijuana border say they are not prepared for California’s plan to phase out diesel trucks because Mexico lacks zero-emission vehicles and charging infrastructure. ** Under pressure from environmentalists, New York lawmakers on Tuesday made their state the first in the nation to ban the use of natural gas …
Ten long-delayed LNG export terminals could lose approvals under new policy
A new policy by the Biden administration’s Energy Department will reportedly put 10 long-delayed U.S LNG export terminal projects at risk. The Energy Department recently announced it would crack down on requests by companies to push back start dates for liquefied natural gas export terminals. As a result, four of the projects in Texas, …
US Senate votes to override Biden’s lifting of tariffs on Chinese made solar panels
Oklahoma U.S. Sens. James Lankford and Markwayne Mullin were among those Wednesday in the Senate who helped pass a measure to override President Biden’s move last year to allow Chinese solar panel manufacturers to avoid tariffs for 24 months. The vote was 56-41 and included some Democrats who voted in favor of the resolution …
Crude oil prices fell while interest rates were hiked
Crude oil prices took another major slump in Wednesday’s trading and Oklahoma energy stocks followed suit after the Federal Reserve raised its key interest rate by a quarter-point to the highest level in 16 years. West Texas Intermediate crude for June delivery dropped $3.06 and fell below $70 to $68.60 a barrel on the …
Bill aimed at getting to the root of catalytic converter theft set to become law in November
A bill authored by Tulsa freshman State Representative Suzanne Schreiber aimed at empowering law enforcement to enact forfeiture measures associated with the theft of catalytic converters and copper will become law in November after clearing all legislative hurdles. Schreiber said she was informed about the issue by her predecessor, former state representative Carol Bush, who …
Governor signs new flood hazard mitigation law
Legislation expanding opportunities to receive federal hazard mitigation funding has been signed into law. House Bill 1928, authored by Rep. Lonnie Sims, R-Jenks, replaces the Flood Hazard Mitigation Account with the Hazard Mitigation Financial Assistance Fund in order to broaden the scope of what the fund may be used for and what federal grants may …
Weaker natural gas prices didn’t stop Gulfport Energy from a strong 1Q
A weaker commodity price environment might have existed in the first quarter of 2023, but Oklahoma City’s Gulfport Energy Corporation still had a strong showing with $523.1 million in net income and $229.7 million of adjusted EBITDA. In the release of its first quarter financial results, the company managed to generate $304.1 million of …
PSO’s $2.4 billion renewable energy project to be voted on by Corporation Commissioners
Oklahoma Corporation Commissioners will meet Thursday to consider a settlement agreement reached over the $2.46 billion renewable energy project proposed by Public Service Company of Oklahoma. The joint stipulation and settlement agreement was announced last week by Attorney General Gentner Drummond who finally signed onto the settlement for the need of the project. “With …