** Thousands of households in New York, New Jersey, and Pennsylvania lose power as temperatures soar above 100 degrees and air conditioning use strains the grid. ** According to the Energy Information Administration, in 2023, nuclear power and renewable energy sources, such as solar power and wind power, accounted for 18% of the total energy …
Senate bill increases value of tax credits to use CO2 captured to produce more oil
Oil and gas producers would benefit from a bill drafted in the U.S. Senate where they would get a tax credit to capture carbon emissions and bury them underground. The Senate Finance Committee’s proposal would amount to a tax credit of $85 per ton, not the $60 per metric ton as approved in …
Oklahoma regulators to meet Wednesday
Oklahoma Corporation Commissioners have a meeting scheduled for Wednesday afternoon. The agenda follows. Item Topic I. A. Call to order B. Announcement concerning public notice C. Determination of quorum II. Recognition of Employee Service III. Approval of minutes of prior meeting(s) IV. Consideration of and possible vote(s) on proposed or potential orders in cases …
Halliburton enters lithium mining efforts in Texas
Halliburton is an energy industry name long associated with oil exploration and production. But the Texas-based company, which got its start in Duncan, Oklahoma, is expanding its energy exploration efforts into lithium mining. It was recently awarded a contract to plan and design a geothermally-powered lithium mining project in the far northeast Texas …
Crude oil prices drop again as ceasefire remains fragile
While the world holds its breath wondering if the cease fire between Israel and Iran will hold in place, crude oil prices dropped 6% in Tuesday’s trading. A day earlier, they had fallen 7%. It’s an indicaton that investors apparently have strong expectations the ceasefire between Israel and Iran will hold and not disrupt …
About one-fifth of global liquefied natural gas trade flows through the Strait of Hormuz
Not just oil flows through the Strait of Hormuz, the strip of sea that Iran said it would close in response to the U.S. bunker busting bomb attack last weekend. According to the U.S. Energy Information Administration, a lot of liquefied natural gas is transported through the Strait. In 2024, about 20% of global …
Undiscovered oil reserves in New Mexico?
New Mexico is one of two states with a major undiscovered oil and gas reserves that the U.S. Geological Survey believes exists on public lands. The Interior Department recent announced the undiscovered resources are under the federally managed public lands of the U.S. Estimations say there could be technically recoverable resources of 29.4 …
Oklahoma’s rare minerals development catches world’s attention
This week’s announcement by Westwin Elements of obtaining a long-term contract for its refining of Nickel at a facility in Lawton had a global impact. One publication suggested Oklahoma is a leader in the rare minerals production and competition with China. Certainly, it drew the attention of at least one worldwide media group which …
TSA—airports to be busy this July 4th holiday
State figures for Oklahoma travelers have yet to be released but the Transportation Security Administration believes it will likely screenmore than 18.5 million travelers at the nation’s airport security checkpoints during the approaching Fourth of July holiday. The TSA said this year’s projection includes Tuesday, July 1, through Monday, July 7, with the highest …
Another lithium refiner gets nod for royalty rate by Arkansas regulators
Arkansas regulators approved this week a lithium royalty rate for a second lithium refining operator. It was a unanimous approval of a 2.5% rate by the Arkansas Public Service Commission for ExxonMobilsubsidiary Saltwerx. Last month, regulators approved a similar rate for the joint venture by Standard Lithium and Equinor. ExxonMobil called the approval …