Thanks to the strength of oil and gas revenue, New Mexico legislators saw another increase in the amount of funds they will have to create a new state budget. The New Mexico Legislative Finance Committee released its Consensus Revenue Estimate for fiscal year 2024 which begins July 1, 2023. The projected revenue for Fiscal Year 2024 …
Interior official wouldn’t admit the President lied about oil production claims
Wyoming Sen. John Barrasso put Deputy Interior Secretary Tommy Beaudreau on the spot this week when he pressed him about President Biden’s statements on oil and gas During a Senate Energy and Natural Resources Committee hearing, the Republican Senator wanted to know which statement from the President was a lie…the one when he said …
Cushing hub maintains crude oil storage despite Keystone pipeline shutdown
Despite a shutdown of the Keystone pipeline because of an oil leak in northern Kansas, the diminished flow of oil into the Cushing hub was not reflected in the latest storage report from the government. The U.S. Energy Information Administration reported Wednesday Cushing contained 24.4 million barrels of oil as of Dec. 9. It …
Tribe wants to create shipping link along Missouri River
The Iowa Tribe of Kansas and Nebraska wants to follow in the footsteps of the Citizen Potawatomi Nation in Oklahoma by establishing a free trade zone and building a shipping nexus near the Missouri River. It would become the 8th tribe, according to the Bureau of Indian Affairs, to establish free trade zones since …
Winter weather blocks restart of Keystone pipeline following leak
All the wintry-like storms that hit the Upper Midwest this week prevented the restart of the Keystone crude oil pipeline following one of the largest leaks in a decade in northern Kansas. Canadian-based TC Energy had planned to resume the flow of crude oil to the Cushing Hub in northern Oklahoma on Dec. 10 …
Other energy notes
** U.S. natural gas futures jumped about 7% to a two-week high on Tuesday on forecasts for colder weather and higher heating demand through at least the end of December. ** The American Petroleum Institute and the State Enterprise “Ukrainian Scientific Center for Standardization, Certification and Quality Problems” signed a Memorandum of Understanding (MOU) to promote the …
Crude oil recorded big gains and OK energy stocks the same
Crude oil prices gained more than $2 in Tuesday’s trading and settled over $80 a barrel, thanks to a number of issues including moves by investors to buy up assets during slowing inflation. Plus, there are concerns about supply disruptions because of the shutdown of the Keystone pipeline in Kansas. West Texas Intermediate crude …
Rep. Hern says Buttigieg is a “climate hypocrite”
U.S. Transportation Secretary Pete Buttigieg’s private flights on taxpayer-funded jets earned him Oklahoma Congressman Kevin Hern’s latest “2022 Friend of Fossil Fuels Award.” The Tulsa U.S. Representative hands out the award to those like Buttigieg who preach a green agenda but are climate hypocrites in real life, according to the congressman’s announcement. Hern calls …
Nuclear fusion “incredibly exciting” says Rep. Frank Lucas
Oklahoma Congressman Frank Lucas is clearly excited about this week’s news that researchers at the Lawrence Livermore National Lab had successfully achieved their quest for fusion energy. The Ranking Republican on the House Science, Space, and Technology Committee quickly congratulated the workers at the Lab’s National Ignition facility. “Today’s announcement by Lawrence Livermore National …
Oklahoma gasoline prices continue to fall
Oklahoma gasoline prices are down to a new statewide average of $2.69 a gallon, less than a year ago when the average was $2.89 according to AAA. The national average of $3.26 is 52 cents less than a month ago and six cents less than a year ago. The automobile group said Oklahoma’s average …
