Oklahoma State Sen. Nathan Dahm plans to target Oklahoma’s eminent domain law in the approaching legislative session. In an announcement, the Broken Arrow Senator said he is looking to reform the law because he contends it has been abused by governments. The bill he plans to introduce Senate Bill 41 which would create a …
Oklahoma oil and gas taxes helped increase November general revenue fund
Oklahoma General Revenue Fund collections in November totaled $602.6 million, which is $60.9 million, or 11.2%, above the monthly estimate. This is $1.9 million, or 0.3%, above collections in November 2021. Total GRF collections for the first five months of fiscal year 2023 are $3.5 billion, which is $683.2 million, or 24.4%, above the …
Missouri’s new cash crop—renewable energy?
The head of an organization promoting renewable energy says Missouri cooperatives fighting such investments are wrong. James Owen is executive director of Renew Missouri and wrote in the Springfield News-Leader that renewable energy could become Missouri’s new reliable cash crop. Click here for Springfield News-Leader
Investigators probe link of oil industry to West Texas earthquakes
Investigators for the Texas Railroad Commission spent the weekend probing the most recent large quake that shook the Permian Basin. Their job is to determine whether wastewater disposal wells used in the oil and gas drilling in the Basin might have been the cause of at least two recent strong quakes. The latest measured …
Energy headlines
** ERCOT on Friday notified power generators in Texas that they need to be online and ready to provide power during an expected wave of cold air that could drop overnight temperatures into the 20s late next week. ** CubicPV Inc., a startup backed by Bill Gates, plans to construct a $1 billion silicon wafer factory for solar panels in …
Nation’s oil and gas rig total recorded a drop
A new report from Baker Hughes showed a decline over the past week in the nation’s number of oil and gas rigs active in the energy plays Oklahoma saw a drop of one to 68 rigs still active in the different oil and gas plays across the state. A year ago, there were only …
Crude prices dropped on recession worries
What happened Friday on global markets not only fueled growing worries of an approaching recession, but sent crude oil prices down more than $2 a barrel. West Texas Intermediate crude for January delivery dropped 2.4% or $1.82 to settle at $74.29 on the New York Mercantile Exchange. Global benchmark Brent crude for delivery in …
Other headlines
** The Senate has bucked Sen. Joe Manchin’s (D-W.Va.) latest effort to get his energy deal with Majority Leader Charles Schumer (D-N.Y.) attached to must-pass legislation. The chamber blocked Manchin’s permitting reform amendment from getting onto a defense funding bill known as the National Defense Authorization Act in an 47-47 vote. Sixty votes were needed to advance …
Oklahoma water projects funded in National Defense Act passed by the Senate
From Oklahoma’s McClellan-Kerr Navigation system to Sardis Lake to the Tulsa Ports, funds for the projects were included in the Senate approval of the Water Resources Development Act of 2022. The Act was included in the Fiscal Year 2023 National Defense Authorization Act named in honor of retiring Sen. Jim Inhofe. President Biden is …
Inhofe and Lankford did not support Manchin’s permitting reform
Oklahoma U.S. Sens. Jim Inhofe and James Lankford were among those who voted against West Virginia Sen. Joe Manchin’s permitting reform amendment. The vote was 47-47 and 60 votes were needed to advance the measure. Manchin had reached the deal with Majority Leader Charles Schumer but the tie-vote blocked the amendment from getting onto …
