Fort Worth, Texas is being considered as a possible site for a manufacturing plant by a $5 billion electric vehicle company backed by Amazon and Ford. WFAA TV reports it would match the size of Tesla’s gigafactory under construction near Austin. Click here for WFAA report.
Energy news in brief
** The American Petroleum Institute is leading a lawsuit filed Monday challenging the Biden administration’s indefinite pause on oil and natural gas leasing in federal lands and waters. API and 11 other oil industry trade groups argue the Interior Department failed to satisfy procedural requirements and ignored congressional mandates for holding lease sales. ** Sierra Club executive …
Loves opens new tire retread plant in El Reno
El Reno is the home of a new Love’s Travel Stops tire retread plant and distribution center. The company stated that the 220,000-square-foot facility is double the size of one replaced in Grand Prairie, Texas. It is one of seven such Loves plants across the country and is a sign the Oklahoma City-based company …
Electric grid manager’s plan to be reviewed by Oklahoma regulators
Oklahoma Corporation Commissioners will have a review and response this week to the recent report by the the Southwest Power Pool and its response to the February 2021 winter that resulted in rolling blackouts in Oklahoma and a few other states. Commissioners will meet Tuesday afternoon to conduct a comprehensive review of the SPP’s …
Energy news in brief
** A new report says President Biden’s federal ban on oil and gas leases in the Gulf of Mexico threatens more than 345,000 offshore oil and gas jobs. ** A sprawling Wyoming ranch long owned by late Texas oil heiress, horse breeder, philanthropist and prolific art patron Anne Windfohr Marion has hit the market for $45 million. ** North Dakota regulators hold their …
Chesapeake and Vine Energy and the search for a new CEO
Leadership at Oklahoma City’s Chesapeake Energy Corporation made it clear last week as they announced the acquisition of energy company Vine, “We’re not Chesapeake of the past. We think this is a competitive advantage.” The declaration came from Mike Wichterich, Chesapeake’s Board Chairman and Interim Chief Executive Officer during a second quarter conference call with …
Will crude oil prices rebound this week?
Friday trading saw another dip in crude oil prices as the International Energy Agency expressed more concern that the spread of coronavirus variants is causing a slowdown in oil demand. So it raises the question whether the fall of Afghanistan over the weekend might take minds off COVID-19 and the impact on crude oil. …
Government hands out $83 million in energy funding
The U.S. Department of Energy awarded $82.6 million in funding to 44 projects that will lower Americans’ energy bills and help meet President Biden’s goal of net-zero carbon emissions by 2050 by investing in new energy efficient building technologies, construction practices, and the U.S. buildings-sector workforce. None of the projects are in Oklahoma but one …
Oklahoma oil leader says Biden has it all wrong
President Biden’s recent call for OPEC to increase its oil production is still reverberating across the oil and gas industry including the Petroleum Alliance of Oklahoma where the headline accused the White House of seeking to kill U.S. oil and natural gas jobs while rewarding dictators. Brook A. Simmons, President of the Alliance called …
Oklahoma rig count falls while national numbers increase
The number of oil and gas rigs active in Oklahoma slipped by one in the past week, resting at 30 while nationally, the rig count jumped by 9 to reach 500 according to the latest report from Baker Hughes Co. Oklahoma’s current count of 30 compares to 11 a year ago. Nationwide, the number …