Texas Democratic Congressman Henry Cuellar and his wife deny the charges but were indicted Friday on charges of taking $600,000 from an energy company in the former Soviet republic of Azerbaijan. The indictments accused them of conspiracy and bribery and were the result of a long-term Justice Department investigation into ties between US business …
Barclays PLC added to banned energy discrimination elimination list in Oklahoma
Oklahoma State Treasurer Todd Russ announced his office added another company to the Oklahoma State Treasurer’s Restricted Financial Companies List, which is published on the treasurer’s website and subject to revision annually, but not more than quarterly as needed. The announcement drew immediate reaction from those critical of his efforts. During his continued efforts …
Energy briefs
** The U.S. government has loosened some rules governing electric vehicle tax credits a bit, potentially making more EVs eligible for credits of up to $7,500. The Treasury Department announced final regulations for the credits under the 2022 Inflation Reduction Act on Friday, giving automakers more time to comply with some provisions about where battery minerals can …
US Regulators: Approve Exxon’s $60B Purchase Of Pioneer Natural Resources
The Federal Trade Commission has cleared the way for Exxon Mobil’s $60 billion dollar purchase of Pioneer Natural Resources as soon as Friday. There are conditions – and one is that former Pioneer CEO Scott Sheffield won’t be named to Exxon’s board of directors. Sheffield has been accused of colluding with OPEC to drive …
Crude fell again in Thursday’s trading, reaching a 7-week low
A slight drop in crude oil prices on Thursday sent them to nearly their lowest level in seven weeks following a bigger fall on Wednesday. It came after weaker global demand for crude oil, increasing crude stocks plus dashed hopes for a cut in US interest rates. West Texas Intermediate crude, considered the US benchmark …
House Republicans block Biden’s war on energy production in Alaska
Oklahoma’s congressional delegation was among Republicans in the U.S. House who stood up to fight the White House and its recent moves to restrict oil and gas exploration in Alaska’s National Petroleum Reserve and the Arctic National Wildlife Refuge. The House voted in support of H.R. 6285, Alaska’s Right to Produce Act. The final …
Lower fuel costs for OGE customers took effect this week
While Oklahoma City and Electric pushes forward with a rate hike request that could boost customers residential bills by another $19 a month, the utility announced this week the lowering of fuel charges will result in a drop of $25 a month for the same customers. It comes as the utility is lowering the …
Mammoth Energy suffered in slumping natural gas market
Mammoth Energy Services leadership admits its first quarter 2024 fiscal year results are likely to be the “low water mark” for the year. Again, the sinking natural gas market gets much of the blame. Dismal results were reported including total revenue of $43.2 million compared to $116.3 million for the same quarter of 2023 …
A Rep. Lucas-led fight convinces White House to back down
After fighting the Biden administration for more than a year over claims of whistleblower retaliation, Oklahoma Congressman Frank Lucas got his wish…a new acting Inspector General at the Department of Commerce. He called it a win for good government. As Chairman of the House Science, Space, and Technology Committee, he had campaigned to …
FEMA steps in to offer help to three Oklahoma counties
The three southern Oklahoma counties devastated by the weekend tornadoes that also left four people dead are getting disaster assistance benefits from FEMA. FEMA announced the disaster help is going to Hughes, Love and Murray Counties as they were hardest hit by the tornado outbreak. Governor Kevin Stitt said he appreciated how quickly FEMA …