Ercot, the Texas electricity grid is facing a potentially serious problem this winter—not enough electrical power to deal with severe storms. The Electric Reliability Council of Texas didn’t receive enough offers in its effort to procure up to 3,000 megawatts for December through February. It only received 11.1 megawatts of offers from consumers who …
Headlines of other stories
** The Biden administration has proposed limiting environmental reviews surrounding power lines, large-scale batteries and solar farms as part of a larger effort to develop more renewable energy. The Energy Department said it is proposing the changes “to promote the development of clean energy and supporting infrastructure.” ** Chevron Corporation (CVX) is in the initial stages of evaluating …
Crude oil made 4% gains on Friday
The question at the start of a new week of trading will be whether crude oil prices can maintain the 4% gains they recorded on Friday. Oklahoma energy stocks also recorded moderate gains to finish the week’s trading. Crude prices on Friday rebounded from a four-month low on Thursday, thanks to some extent to U.S. …
ONE Gas CFO to retire in December
ONE Gas, Inc. announced that after a 25-year career in finance and executive leadership, Caron A. Lawhorn has decided to retire as the company’s chief financial officer effective Dec. 31, 2023. The ONE Gas Board of Directors has elected Christopher P. Sighinolfi, vice president of corporate development, investor relations and sustainability, to succeed Lawhorn …
Crude oil plunged 5% in Thursday’s trading
Crude oil prices plunged nearly 5% in Thursday’s trading and Oklahoma energy stocks suffered with their own losses for the day. The crude oil prices fell to their lowest level in four months, largely because investors remained worried about global oil demand. West Texas Intermediate crude fell $3.76 or 4.9% to $72.90 on the New …
Phillips 66 empties part of office tower in Bartlesville
A few months after Phillips 66, the largest employer in Bartlesville, announced plans to release 100 employees, the company has started emptying 8 stories of its office building in the northeast Oklahoma city. The Bartlesville Examiner-Enterprise reports the company is vacating floors 10 through 18 of the office tower and consolidating all employees to …
Chance of severe weather this weekend in Oklahoma
The weekend could bring a chance of severe weather to Oklahoma, first on Saturday in the west, then Sunday in the east. “A chance of storms on Saturday out west, but we see a chance of severe weather on Sunday, so that will need to keep your attention across central and eastern OK,” wrote Oklahoma …
International pipe firm expands operations in Oklahoma
Shawnee Mayor Ed Bolt called it a “big thing” for the city of Shawnee, a $30 million investment in a new plant by Georg Fischer Central Plastics. The Switzerland-based company broke ground this week for a new 150,000-square foot plant where nearly 300 workers will be employed. “We’re extremely pleased to see GF Central …
Osage County family wins oil drilling suit against BIA
A Federal Judge has ruled against the Bureau of Indian Affairs in an Osage County family’s lawsuit filed nearly 10 years ago over the drilling of oil wells on their land. U.S. District Judge Jane A Restani ruled in support of the Paul B. Hayes Family Trust which challenged the BIA’s handling of the …
Energy headlines
** Exxon Mobil Corp. warned that making Big Oil into “villains” and trying to restrict supply of fossil fuels will slow the path to net zero emissions and keep millions of people in the developing world in poverty reported Bloomberg. ** An influential group of corporate bosses, bankers and academics, the Energy Transitions Commission, contends …