** The Federal Energy Regulatory Commission denied the proposed $2.6 billion acquisition of American Electric Power Co. Inc.’s Kentucky Power Co. unit by Algonquin Power & Utilities Corp., saying the Ontario-based buyer hasn’t provided sufficient assurances that transmission rates will not climb as a result of the transaction. ** Republicans said they would do away …
Category: General
Oklahoma energy stocks rebounded Wednesday while crude oil dropped 5%
Another tough day for crude oil prices as they dropped more than 5% or $4 a barrel in Wednesday’s trading largely because of the global economy and rising COVID-19 cases in China. Oklahoma energy prices on the other hand, rebounded from Tuesday’s tough day. One local stock soared 22%. West Texas Intermediate crude for …
Oklahoma regulators to hold first meeting of 2023
The Oklahoma Corporation Commission will meet for the first time in 2023 on Thursday and it will also be one of the last meetings for Commission chairwoman Dana Murphy. Murphy is term-limited after first being elected to the Commission in 2008 for a partial two-year term. She was re-elected to a full six-year term …
Widely read analyst says the EV industry is “a bad idea”
Noted American geopolitical analyst and author Peter Zeihan came out this week with a commentary that blasted the EV industry. Calling it “EV’s Not-so-little Dirty Secret(s)”, Zeihan declared that electric vehicles “are on average a bad idea that will not be with us all that much longer.” In his Wednesday video commentary, he said …
NGL Energy Partners boosts 2023 guidance
NGL Energy Partners LP announced an increase to its Fiscal 2023 Adjusted EBITDA guidance. The Tulsa-based Partnership has increased its Adjusted EBITDA guidance for the current fiscal year from greater than $600 million to greater than $630 million. Of this amount, more than $430 million is expected to be generated from the Partnership’s Water …
Crude oil prices increased in first-half 2022 and declined in second-half 2022
Data source: CME Group, Intercontinental Exchange, and Bloomberg L.P. Note: Retail prices are in nominal terms and are not adjusted for inflation. In the final trading day of 2022, the spot price of Brent crude oil, a global benchmark priced in Northwest Europe, closed at $85 per barrel (b), $7 higher than the price on January 3, …
Arkansas makes another corporate income tax cut to begin 2023
The top corporate income tax rate in Arkansas took another drop at the start of 2023, going from 5.9% to 5.3% but is still higher than the rate in Oklahoma and a few other of its surrounding states. Oklahoma’s rate is 4%. Arkansas Gov. Asa Hutchinson campaigned for the lower rate. The Arkansas Democrat-Gazette …
Oklahoma regulators seek comment about oil and gas rules
Should Oklahoma’s rules regarding oil and gas waste disposal be updated or changed? It’s the question that state regulators want to know as they plan a Land Application of Drilling Waste Rules Discussion this week. The Oklahoma Corporation Commission staff plans to hold the discussion Jan. 6 at 1 p.m. at the Jim Thorpe …
So much for electric trucks for snow removal
From the Committee to Unleash Prosperity comes a story about electric trucks and what they can’t do. This is our weekly winner of the “You Can’t Make this S&!@ Up” prize. The [New York public works] department aims to switch all 6,000 vehicles in its fleet from gas to electric as part of …
Devon Energy names two new board members
Devon Energy Corp. announced that Michael Mears and Gennifer Kelly have joined its board of directors. Michael Mears is the former chairman, president and CEO of Magellan Midstream Partners. Gennifer Kelly previously held the role of chief operating officer and SVP of Western Midstream Partners. “I am excited about the opportunity to work closely …