Crude oil prices on Monday did just what top exporter Saudi Arabia wanted when it cut production by another 1 million barrels a day beginning in July. They went up with West Texas Intermediate crude going up 41 cents to $72.15 on the New York Mercantile Exchange. It reached a high of $75.06 …
Future of Canoo discussed on Mitchell Talks Energy
Faced with a loss of cash and slumping shares, EV maker Canoo is facing a difficult future. The survivability of the company that promised to build a manufacturing plant in Oklahoma City and another in Pryor was a big topic of discussion on the latest edition of Mitchell Talks Energy. Scott Mitchell and Jerry …
Reports show widespread oil production from recent wells in Oklahoma
While Oklahoma’s oil and gas rig numbers are seemingly in a constant rate of decline in the past month, some completion reports are showing continued production throughout the state. A Bce-Mach LLC drilled well in Alfalfa County had production of 393 barrels of oil a day and 1,102 Mcf of natural gas in the …
OGE defends request for higher electric rates
Yes, Oklahoma Gas and Electric wants you to pay more in your electric monthly bill. The company says it’s all in the name of updating its current generating system and also creating a more diverse one. As OK Energy Today revealed last week, the utility is seeking a $331 million rate hike that will …
Republicans in the House go after Biden’s anti-gas stove plans
Louisiana congressman Steve Scalise is intent on stopping the Biden administration’s plan to either regulate or eventually ban natura-gas-burning stoves. “Why is Joe Biden so focused on banning gas stoves instead of addressing the real issues that Americans care about,” House Republicans tweeted this weekend, “such as the border crisis, inflation, or high gas …
Quick reads
** Mountain Valley Pipeline officials say the long-delayed project should be completed later this year, after Congress passed a provision of the debt limit deal that dismisses current legal challenges to its permits. ** A new study from clean energy advocates finds that North Dakota wasted $680 million in 2019 through flaring, venting and leaks from oil and gas …
Wind industry to see big boost from Inflation Reduction Act
While the Biden administration’s green energy plans have drawn criticism from conservative members of Congress, the $390 billion targeted over 10 years for renewable energy will likely help some cities where the wind energy industry suffered. Two such sites were Siemens Gamesa wind farm manufacturing plants in Hutchinson, Kansas and Lee County, Iowa. The …
Texas increases pollution fines
Pollution fines in Texas were increased in the just-finished Texas legislative session. Penalties assessed by the Texas Commission on Environmental Quality were increased from the previous maximum of $25,000 a day to $40,000 per day. It was the first increase since 2011 as reported by Public Health Watch. Click here for Public Health Watch …
Chairman quits power grid board in Texas after failure of legislature
The chairman of the Texas Public Utility Commission quit last week after the state legislature failed to approve a plan to help the state grid withstand weather disasters. Legislators said the plan didn’t do enough to boost fossil fuels so Peter Lake submitted his resignation on Friday. He was appointed to the commission in …
U.S. residential electricity bills increased 5% in 2022, after adjusting for inflation
Just as some of Oklahoma’s major utilities, Public Service Company of Oklahoma and Oklahoma Gas and Electric are wanting approval of the Corporation Commission for higher rates, a government report confirms what customers have known…their rates have increased in the past two years. But it probably didn’t take a government report to tell us …