Declining tax revenue from oil and gas production continues to push total gross receipts revenues down in Oklahoma. Treasury Secretary Todd Russ reported receipts for the last 12 months total $16.96 billion, a decrease of $480 million, or 2.7 percent, when comparing revenue from the previous year. All tax sources in December total $1.41 …
New Mexico’s Gov. Michelle Lujan Grisham wants to fund more payouts for electric vehicles purchases in her state—and how does she proposed to pay for it? By using money generated from taxes on oil and gas revenue. The governor wants to increase general fund spending by 10% to strengthen housing opportunities, childhood literacy and …
Heading into the past weekend, gasoline prices were down from 7 to 9 cents a gallon on average in Oklahoma City and Tulsa. AAA reported the national average for a gallon of gas dipped slightly by four cents since last week to $3.08. One reason could be lower demand, as fewer people are fueling …
\ While Oklahoma wrestles with the possible idea of Right of First Refusal for utilities planning major transmission line projects, the Southwest Power Pool is examining what has become a controversial issue. SPP said it is accepting applications to create a pool of industry experts. These experts may be chosen to serve on an …
The number of active oil and gas rigs across the U.S. declined by one to 621 rigs while Oklahoma’s numbers remained unchanged, according to a release by Baker Hughes Co. on Friday. The US count saw an addition of one oil rig for a total of 501 while the number of gas-drilling rigs declined …
** Exxon Mobil Corp. warned investors of a $2.5 billion write down of the value of some California operations. ** The U.S. environmental regulatory agency will hold a hearing this week on whether to approve California’s plan to require all new vehicles sold in the state by 2035 to be electric or plug-in electric hybrids. …
A 2% gain in US crude oil prices on Friday didn’t help Oklahoma energy stocks much at all as the day reslted in mixed trading. Crude prices gained as tensions rose in the Middle East over the Israel-Hamas conflict. West Texas Intermediate crude rose $1.62 or 2.24% to finish at $73.81 a barrel on the …
If the Wall Street Journal is correct, Chesapeake Energy Corp. and Southwestern Energy Co. could formally announce this week their merger that had been negotiated for the past several weeks, one that would create a nearly $17 billion company. It would also result in the formation of one of the largest natural gas producers …
Days after Oklahoma Attorney General Gentner Drummond boasted how he helped bring lower utility rates for customers of OG&E and Public Service Company of Oklahoma, OGE made it known it was asking regulators for approval of a $332 million rate hike annually. AARP Oklahoma state director Sean Voskuhl might have put it best. …
Texas regulators recently approved more restrictions on oil and gas drillers who return fracking water back to the earthquake in a move to lower the number of earthquakes in the Permian Basin. Taking a cue from what Oklahoma did some years ago, the Railroad Commission of Texas ordered oil and gas firms in Culberson …