Some Republicans in the U.S. House are attempting to persuade House Speaker Mike Johnson not to initiate efforts to eliminate energy tax credits. None are Oklahoma Representatives. The Republicans who want to save the credits were led by New York Rep. Andrew Garbarino who believes a repeal of the energy tax credits in the …
Dismal 2Q earnings reported by Unit Corporation
Disappointing second quarter results were reported by Unit Corporation of Tulsa as the energy firm saw a drop of net income in addition to a decline for the first half of the year. Unit stated its net income for the quarter totaled $11.5 million or $1.15 a share compared to $28 million and $2.86 …
Colorado gives go-ahead to 166 well project near Aurora
Residents around the Aurora Reservoir just east of Denver in Colorado aren’t happy but state regulators have just approved a plan for an oil and gas company to drill up to 166 oil and gas wells near their homes. The Colorado Energy and Carbon Management Commission gave the approval this week to Crestone …
Energy briefs
** More than a dozen House Republicans wrote to Speaker Mike Johnson (R-La.) on Tuesday asking him not to axe clean energy tax credits in the Inflation Reduction Act (IRA) if the GOP maintains or expands its House majority next year. ** The reaction to selection of Minnesota Gov. Tim Walz to be running mate to …
New allegations made against Corporation Commissioner Hiett
According to a report in The Oklahoman, two employees of the Oklahoma Corporation Commission have come forward with new allegations against Commissioner Todd Hiett. The Commissioner not only is accused of a drunken groping of a man at a hotel bar during a convention in Minneapolis, Minnesota, but calls to resign, something he refuses …
Continuing drop in crude stocks sent oil prices up on Wednesday
While crude oil prices managed a 2% bounceback on Wednesday, Oklahoma energy stocks were split. The gain in crude prices came as news spread of a bigger-than-expected draw down in US crude stockpiles. It was the sixth week of a drop in stocks. In the U.S., West Texas Intermediate crude went up $2.03 or 2.77% …
Hiett’s not leaving corporation commission but hands over chairmanship
Besieged with allegations of drunkenness and groping of a man, Oklahoma Corporation Commission Chairman Todd Hiett didn’t resign from the position on Wednesday, but he turned his chairmanship over to fellow commissioner Kim David. He did so as the commission moved to begin a formal investigation into the June incident at a national convention …
Air alert issued again for southern Oklahoma
The Oklahoma Department of Environmental Qualityis issuing an ozone alert for the Oklahoma City and Lawton metropolitan areas for Thursday, August 8, 2024. This alert will initiate the issuance of an “Ozone Alert Day” for the Oklahoma City area by the Association of Central Oklahoma Governments, and an “Air Quality Action Day” for the Lawton area by the Lawton Metropolitan Planning Organization. …
US crude stocks make another big drop
The U.S. saw another significant drop in the amount of crude oil stocks in the past week while Cushing recorded a slight gain. Both have seen dramatic declines in stocks since early July. The U.S .Energy Information Administration reported Wednesday the U.S. stocks fell 3.7 million barrels from 433 million barrels as of July …
Colorado Attorney General might join oil train legal fight
Colorado’s attorney general is giving thought to getting into the court fight over a train that would carry oil from Utah and across Colorado and eventually to the Cushing hub in Oklahoma and southward. The Uinta Basin Railway project has gone before the U.S. Supreme Court after a federal appeals court ruled against it. …