World crude oil prices soared Wednesday as Russian soldiers expanded their invasion of Ukraine, pounding civilian and residential areas of cities and increasing the number of dead. Global benchmark Brent crude futures peaked at nearly $114 a barrel, then settled up $7.96 or 7.6% at $112.93 on ICE Futures Europe. It was Brent’s highest …
More storm cost ratepayer bonds headed to Supreme Court
Another $2.7 billion in ratepayer backed bonds aimed at helping three Oklahoma utilities recover their 2021 winter storm costs were approved this week by a state agency and now await final okay from the Oklahoma Supreme Court. NonDoc reported the Oklahoma Development Finance Authority authorized the three securitization efforts to buy debt held by …
NextEra Energy to acquire Panhandle wind farm
An Oklahoma Panhandle wind farm OK Energy Today first reported about last year with condemned and dangerously damaged wind turbines is getting a new owner—NextEra Energy Resources. The company announced this week it closed on an agreement to acquire the wind farm from Olympia Renewable Platform LLC, the company that was sanctioned by the …
Manchin and Repubs critical of Biden’s energy policies
There’s a reason West Virginia Sen. Joe Manchin sat with the Republicans during Tuesday night’s State of the Union address by President Joe Biden. While he’s a Democrat, he’s sided with Republicans in calling for an end to U.S imports of Russian crude oil, making his stance clear during hearing this week of the …
Colorado regulators make rule changes on abandoned wells
In a meeting this week, oil and gas regulators in Colorado revised some of their financial assurance rules, all in the name of guaranteeing there is money to plug the state’s abandoned oil and gas wells in the state. It was considered an overhaul of the rules reported the Colorado Sun. Click here for …
Lankford on speech—“skipped” over US oil purchases from Russia
Oklahoma U.S. Sen. James Lankford came away from the State of the Union address by President Biden Tuesday night in disbelief at what he heard and didn’t hear. “Well—that was interesting,” he said in recorded comments afterward, adding he was pleased to see the President at least started the speech talking about Russia and …
Inhofe says speech highlighted Biden’s failing energy policies
Incredibly disappointed—it’s the reaction of Oklahoma U.S. Sen. Jim Inhofe to President Biden’s 2022 State of the Union address. In a statement issued Wednesday, the GOP Senator the address was just that–talk. While Inhofe’s criticism focused initially on Biden’s national defense blunders including the deaths of 13 American soldiers in the Afghanistan withdrawal, something …
Hern says “energy independence” was absent from President’s speech
Whether he was expecting anything more than he heard Tuesday night in the President’s State of the Union Address, Oklahoma U.S. Rep. Kevin Hern was disappointed. He said afterward there was only one thing Oklahomans needed to hear from the President and that was an immediate commitment to energy independence. “We didn’t hear that. …
Cole pleads for Biden to embargo Russian energy imports
Oklahoma congressman Tom Cole was among those pleading this week with the President to immediately embargo all Russian energy exports. He joined Kansas Sens. Jerry Moran and Roger Marshall in sending a letter to the White House in response to Russia’s unprovoked war and invasion of Ukraine. “Energy makes up approximately one-quarter of Russia’s …
Continental Resources enters carbon capture industry
Oklahoma City’s Continental Resources, the biggest oil driller in the state of North Dakota announced Wednesday plans to commit $250 million to fund a pipeline to gather carbon dioxide produced by ethanol plants. It is the company’s first venture into the growing world of carbon capture projects and will create the largest carbon capture and …