Israel’s agreement to a ceasefire deal with Lebanon sent crude oil prices slipping on Tuesday. Prices dropped as a sign that oil’s risk premium was reduced. It came after Israel’s security cabinet agreed to the ceasefire and the accord is expected to take effect Wednesday. West Texas Intermediate finished down 17 cents or …
Judge freezes Arkansas crypto mining law forbidding foreign ownership
A fight has broken out in Arkansas over the constitutionality of two laws that prohibit foreign ownership of digital data centers or crypto mines. The 2023 and 2024 laws were challenged by Qimin “Jimmy Chen”, described by Arkansas Business as a naturalized U.S. citizen who was born in China. As a result of …
US crude oil production established a record in August 2024
An average of 13.4 million barrels per day (b/d) of crude oil was produced in the United States during August 2024, a new record according to data from the U.S. Energy Information Administration’s Petroleum Supply Monthly. More crude oil was produced in the United States during August 2024 than during December 2023, when the previous …
Grain Belt Express line gets nearly $5 billion government loan guarantee
The government this week approved a nearly $5 billion conditional loan guarantee to the developer of the nearly 800 mile long Grain Belt Express line designed to carry wind-powered electricity from Southwest Kansas and across Missouri and Indiana to Illinois. The Energy Department’s Loan Program Office announced the $4.9 billion condition loan guarantee but …
Proposed expanded Southwest Power Pool plan gains 4 Arizona utilities
The Southwest Power Pool’s plan to expand its energy market in a program called Markets+ is gaining four utilities in Arizona. It was announced this week that Arizona Public Service, Salt River Project,Tucson Electric Power and UniSource Energy Services will join the program when it launches in 2027. The Power Pool, made up of …
New Mexico studies possibility of re-use of oil and gas wastewater
New Mexico leaders think they have a serious plan to allow the reuse of treated oil and gas wastewater. They’ve just published a study as part of a proposal by Gov. Michelle Lujan Grisham to adopt a 50-year water plan funded with a $500 million cash infusion. Click here for Santa Fe New …
Commissioner reveals more allegations against Todd Hiett
Oklahoma Corporation Commissioner Bob Anthony,, the elected official who has called for Commissioner Todd Hiett to resign in the wake of serious sexual abuse and drunkenness allegations against him, recently raised more such reports against Hiett. One such report made to Anthony also involves another man, similar to the June incident in Minnesota …
Buc-ee’s goes to court
Buc-ee’s, the convenience store outlet with stores throughout the country but not in Oklahoma, has gone to court again over a firm with a similar name. The Texas-based company has sued Duckees, a convenience and liquor store in Kansas City. It’s not the first such kind of lawsuit brought by Buck-ee’s. In 2018, it …
Legislator says attorneys and ALJ in ONG fuel case are in violation of ethics rules
State Rep. Tom Gann, the Republican legislator who led the Supreme Court challenge to Corporation Commissioner Todd Hiett’s participation in rate cases following sexual and drunkenness allegations against him, responded to a judge’s ruling on an ONG case saying the fuel adjustment case by ONG is unlawful. This time, he again stated all …
Regulators express concerns about proposed PSO case
Even though a proposed Public Service Company rate hike won’t impact residential ratepayers for an estimated 18 months, the 15% impact it will eventually have was the concern of Oklahoma Corporation Commissioners during a Tuesday morning special meeting. “It’s a huge rate impact on customers, and I’m very concerned,” remarked Commissioner Todd Hiett in …