** Gulf Power seeks to recoup $200 million that it spent to restore power after Hurricane Sally from ratepayers. ** Duke Energy begins recycling coal ash at three North Carolina plants, as required by state law. ** Louisiana lawmakers approve a tax break for the oil and gas industry as it struggles through the pandemic. ** Japan has unveiled a new 500 kilometers per hour …
Valero suffered a $464 million 3Q loss
Valero reported a third quarter loss of $464 million or $1.14 per share, a far cry from the $609 million in net income or $1.48 per share for the third quarter of 2019. The company’s adjusted net loss was $472 million or $1.16 per share compared to a third quarter 2019 adjusted net income …
Shuttered Iowa ethanol plant settles tax incentive deal
Iowa’s economic development arm and a shuttered ethanol plant at Emmetsburg that had promised to produce millions of gallons from crop waste have reached a settlement that lets the company off the hook for millions of dollars in tax incentives. The Associated Press reported the Iowa Economic Development Authority approved a settlement with Poet …
Stocks couldn’t hold onto Tuesday’s gains and fell in Wednesday’s trading
Wednesday proved to be another down day for trading of energy stocks. As oil futures dropped, so did the value of Oklahoma and related energy stocks. Alliance Resource Partners was one of the few that actually saw an increase. It rose 5 cents for a 2% gain to $2.74. Blueknight Energy slipped one cent …
Oil prices end at 1-week low as demand worries overshadow decline in U.S. crude supplies
Oil futures declined Wednesday, sending U.S. and global benchmark prices to their lowest settlements in over a week. West Texas Intermediate crude for December delivery fell $1.67, or 4%, to settle at $40.03 a barrel on the New York Mercantile Exchange. December Brent crude, the global benchmark, lost $1.43, or 3.3%, at $41.73 a barrel on …
Luminant to build solar farm at closed coal mine in Texas
Luminant plans to build a new solar farm on the site of its retired Oak Hill coal mine on the west side of Martin Lake in East Texas. The Panola Watchman reported plans for the solar farm are part of a wider push from Luminant for more renewable energy. Luminant’s parent company Vistra announced …
Opponent’s scuffles with pipeline workers bring $1,000 fine, year-long ban
Physically interfering with Mountain Valley Pipeline workers will cost a protester $1,000, a Montgomery County judge ruled Tuesday in Virginia. Also, Emma Howell, known as “Ash” among pipeline opponents at the tree stands near Yellow Finch Lane, must stay off Mountain Valley Pipeline’s construction sites for a year, the judge said. “You have the …
New Permian Basin pipeline approved by FERC
The Federal Energy Regulatory Commission has approved construction and operation of the Double E natural gas pipeline in the Permian Basin of West Texas. The 134-mile pipeline will run from the Delaware Basin of West Texas and New Mexico to near Waha in West Texas where it will connect to other pipelines according to …
Judge won’t stop construction of Keystone XL pipeline
A federal judge has denied a request by Native American tribes to halt construction of the Keystone XL oil pipeline from Canada over worries about potential spills and damage to cultural sites. Work started this spring on the long-stalled pipeline that would carry oil sands crude from Hardisty, Alberta to Steele City, Nebraska. The …
Another Iowa ethanol plant closes
An ethanol plant in northwest Iowa designed to make the fuel from corn cobs and stalks rather than kernels has closed. The Des Moines Register was first to report the “Project Liberty” plant in Emmetsburg had closed. Iowa State University agronomist Emily Heaton said in an interview with Radio Iowa that corn stover can easily be converted …