** U.S. President Joe Biden on Friday accused the U.S. oil industry, and Exxon Mobil Corp in particular, of capitalizing on a supply shortage to fatten profits after a report showed inflation surging to a new 40-year record. ** North Dakota regulators approve a permit for a landfill to begin storing radioactive oilfield waste. ** Russia’s crude oil output …
Oil and Gas companies make new hires
Two Oklahoma oil and gas companies announced recent new hires. Kirkpatrick Oil Company hired Melinda Merideth as President and Chief Financial Officer. She has more than 18 years of experience in accounting, finance, corporate development and risk management, serving at one time in London with KPMG. Merideth also spent several years with LD Entertainment, …
Texas congressman ready to fight Biden and Dems over windfall tax on oil industry
A Texas Congressman warns if President Biden and congressional Democrats are successful in passing a windfall profits tax on oil, it will only mean even higher prices. Rep August Pfluger and energy groups in Texas are ready to do battle to stop the White House and Democrat leaders reported The Odessa American. Click here …
Truckers warn their business is not sustainable with high fuel prices
Is the nation’s trucking industry at a breaking point because of high fuel prices? It’s what some trucking operators warn as they struggling with diesel fuel prices that shot up 76% in the past year. There are even warnings of empty store shelves because of the impact the prices are having on truckers. The …
High gasoline prices are definitely affecting RV industry
So you think you want to own an RV and travel the country? Drive up and down I-35 in central Oklahoma and around the Oklahoma City metro area and you see one RV dealer after another. Despite the record-high gasoline and diesel fuel prices, RV sales are continuing their own record pace from 2021 …
After killing the Keystone XL pipeline and restricting drilling permits, Biden now wants increased oil production
After President Biden accused Exxon Mobil Corp of making more money than God and capitalizing on a supply shortage of crude oil, Exxon pushed back on Friday. Exxon pointed out it lost $20 billion in 2020, the year Biden shut down the country over COVID-19 and has increased production this year, even though the …
High crude prices prompt Unit to withdraw divestiture efforts
The significant gain in crude oil prices prompted Tulsa’s Unit Corporation to call off its previously-announced effort to sell all of its oil and gas properties and reserves. The company announced Friday that as a result, it ended its engagement with Tudor, Pickering, Holt & Co. as advisor for the sales effort. The reason? …
Drilling activity increases as rig count grows nationwide
The number of oil and gas rigs put into play in the past week increased by 6 to 733 across the U.S. while Oklahoma’s active rig count remained steady. Oklahoma’s number stayed at 59 rigs while nationally, the number included a gain of 6 oil rigs for a total of 580 while the number …
High May inflation rate sent crude prices down on Friday
Another drop in oil prices happened Friday, thanks to a U.S. May inflation report that was worse than expected and sent the dollar higher and equities lower. The May consumer-price index came in at a year-over-year rate of 8.6%, a 40-year high. Despite the drop in crude prices, the U.S. benchmark recorded its seventh …
Lankford and other senators accuse SEC of climate change “overreach”
Senator James Lankford (R-OK) and 31 of his colleagues pushed back on a proposed rule from the Securities and Exchange Commission (SEC) that would place what they called unworkable climate disclosure regulations on farmers, ranchers and agriculture producers. They called it “overreach” by the agency. The Senators’ called on the SEC to rescind the …
