Williams Companies CEO Alan Armstrong says the reason natural gas prices have surged is due to a lack of infrastructure, not because of a lack of supply. Click here for Reuters
Growing recession worries send crude oil below $90
The recession that doesn’t exist in the eyes of the White House took a toll on crude oil prices Wednesday as crude finished below $90 a barrel. Oklahoma energy stocks ended mixed—some losers and some gainers but nothing to write home about. West Texas Intermediate crude plunged to its lowest price in months, tumbling …
Permian Basin to add $10 billion to New Mexico’s economy in 30 years
As much as New Mexico’s state leaders are critical of their state’s oil and gas industry, a new report says New Mexico’s economy could grow by more than $10 billion in the next 30 years. The prediction came from the Permian Strategic Partnership which issued the report. The Partnership is made up of oil and gas …
Crude oil storage slipped again at Cushing hub
The government’s latest report shows crude oil storage at the Cushing hub in Oklahoma continued to drop after a slight gain from two weeks ago. The U.S. Energy Information Administration reported that as of August 26, Cushing maintained a total of 25,284,000 barrels of crude oil in storage. It was a decline of more …
Higher natural gas prices are predicted this winter
Natural gas users in Oklahoma and across the U.S. can expect higher prices this winter predicted the U.S. Energy Information Administration this week….the highest prices in 15 years. The EIA said that while demand remains high in the U.S. as well as Europe and Asia and inventories remain low, natural gas spot prices will …
Latest OGE rate hike deal to go before Oklahoma regulators
Oklahoma regulators meet Thursday to consider a final vote on a proposed $30 million rate hike settlement reached in July by Oklahoma Gas and Electric Company. The utility originally applied for a $163.5 million rate hike to cover its investments and costs but ran into a wall of opposition from customers already hit by …
Feds to review climate damage from oil and gas leases in North Dakota and Montana
A legal settlement was reached this week in which the government will reexamine potential climate damages from oil and gas leases in Montana and North Dakota, states where Oklahoma oil and gas exploration companies are among some of the most active firms. The leases were originally put up for sale under the Trump administration …
Energy headlines
** Louisiana regulators consider changing decades-old rules to eliminate utility monopolies and introduce more competition into state energy markets. ** Baker Hughes plans to streamline business segments from four down to two, creating an Oil field Services and Equipment segment focusing on drilling equipment and services, as well as an Industrial and Energy Technology segment focusing on manufacturing and …
Here’s the list of those to lead White House fight against fossil fuels
It won’t be just John Podesta leading President Biden’s continued fight against the fossil fuel industry, an appointment announced last week by the White House. Who will help him in the fight? The list includes former Obama administration officials as well as representatives of environmental groups according to E&E News. Click here for E&E …
Colorado County fights rail movement of crude oil
A Colorado County joined environmental groups in appealing a federal agency’s approval of a stretch of new railroad connecting Utah’s oilfields with the national railway network, a decision that will mean crude will be moved through western Colorado. The Colorado Sun reported Eagle County joined the appeal because crude oil will be transported along …