Billionaire Carl Icahn, the man who owns much of Oklahoma City-based SandRidge Energy, the CVR Refinery in southern Oklahoma and other companies across the U.S. now admits he was wrong to have bet against the nation’s economy and it cost him $9 billion over the past six years. “I’ve always told people there is …
Major power line project wins final approval in New Mexico
The U.S. Interior Department formally signed off on a 250-mile multi-billion dollar transmission line that will carry wind-powered electricity from New Mexico to big cities in the West. The department approved the SunZia project that has been a decade in the making. Approval would have been earlier but in 2021, a new application had …
Shortage of electrical transformers hits power line industry
The Biden administration learned from its efforts to expand the nation’s electric grid system through green energy that there is a roadblock….a shortage of electrical transformers. It not only has interfered with the government’s green energy expansion efforts, but also interrupted the completion of new homes and resulted in increased costs to replace power …
PSO lowers its latest rate hike request
Months after Public Service Company filed for a $294 million rate hike for its customers, the company has reached agreement with the Attorney General to lower its rate to $155 million. The joint stipulation and settlement agreement were filed earlier this month by Attorney General Gentner Drummond, AARP and the Public Utilities Division of …
Oil down but Oklahoma energy stocks are up
Oil prices took a 1% skid on Thursday while Oklahoma energy stocks had a strong day in trading with one oil company recording a more than 12% gain for the day. What spurred the fall in crude oil? It came after solid U.S. economic data spurred the dollar to reach a two-month high. West Texas …
More government spending programs make Sen. Lankford’s latest “Federal Fumbles”
Oklahoma U.S .Sen. James Lankford is out with his Volume 7 of his federal waste book, Federal Fumbles: Ways the Federal Government Dropped the Ball, and among his findings are what he labels as government waste in funding climate change and broadband projects. “Federal Fumbles: Ways the Federal Government Dropped the Ball is a glimpse …
Oil and gas group comes out in support of State Treasurer’s anti-ESG enforcement
The Oklahoma Energy Producers Alliance (OEPA) has joined with State Treasurer Todd Russ as he takes steps to withhold state funds from WOKE institutions that discriminate against making Oil and Gas and Agriculture loans. “This is a courageous action by our State Treasurer and a win for Oklahoma producers,” OEPA Chairman and Owner of Kingery …
Oklahoma Turnpike Authority loses bond adviser after being blacklisted by Treasurer
After being blacklisted from state agency business because of its ESG beliefs, Wells Fargo is no longer the bond adviser for the Oklahoma Turnpike Authority. The company was among those cited by Oklahoma Treasurer Todd Russ as violating Oklahoma’s new law which targeted financial institutions for their bias against the state’s oil and gas …
Oklahoma’s 911 fees could increase if Governor signs bill
Oklahomans might see a big jump in their monthly 911 fees if a bill approved in the legislature and sent to Gov. Kevin Stitt is signed into law. As the political website, NonDoc reported this week, the 67% increase would be part of a state effort to upgrade Oklahoma’s emergency hotline system. The increase …
EIA reports Oklahoma saw increased oil production in past year
No surprise in what the U.S. Energy Information Administration reported this week showing Texas and New Mexico were the leading oil-production states in the country. U.S. crude oil production grew 5.6%, or 0.6 million barrels per day (b/d), in 2022 compared with 2021, averaging 11.9 million b/d according to the EIA’s Monthly Crude Oil …
