** The White House is standing by President Biden’s statement earlier this year that climate change poses the largest threat to humanity, even as thousands of people have been killed or wounded after a radical Iran-backed terrorist group unleashed violence across Israel over the weekend. ** Navigator CO2 Ventures announced Tuesday that it is putting on hold …
How Israeli war could affect Strategic Petroleum Reserve
The nation’s Strategic Petroleum Reserve, the one drained by President Biden in an effort last year to lower nationwide gasoline prices, is in an even brighter spotlight because of the attack by Hamas on Israel and the declared war. Crude oil prices surged on Monday, then lowered slightly on Tuesday. Both Brent crude, the …
Supreme Court turns aside Oklahoma challenge of social cost of greenhouse gas emissions
A challenge by Oklahoma and eleven other Republican-led states to the Biden administration’s use of estimates for the social cost of greenhouse gas emissions in the issuance of regulations was rejected by the U.S. Supreme Court. The Court turned away the appeal and did so without explanation or any published dissent. As a result, …
Hydrogen hub choices to be revealed this week?
Just as we reported how Oklahoma, Arkansas and Louisiana leaders awaited an announcement about the government’s $7 billion in funding for proposed hydrogen hubs, a report indicated the President might reveal the choices this week. Bloomberg indicated the announcement might come on Friday when President Biden is scheduled to travel to Pennsylvania where the …
Exxon Mobil moves closer to Pioneer Natural Resources acquisition
The excitement in the oil and gas industry continues to grow over the prospects of Exxon Mobil’s possible acquisition of Pioneer Natural Resources. It’s a reported possible $58 billion deal and experts say it shows that oil and gas will continue to be central to the world’s energy mix. Talks are said to be underway …
Concern eases over war’s impact on oil production and prices drop
A day after crude oil prices rose in the wake of Israel’s declaration of war against Hamas, they settled a little lower on Tuesday. Observers say the concerns about potential supply disruptions eased as both Brent crude and WTI were down for the day. West Texas Intermediate crude finished down 41 cents at $85.97 …
Senators want $6 billion frozen instead of being given to Iran
Oklahoma U.S. Sens. James Lankford and Markwayne Mullin say severe sanctions should be put immediately on Iran for its support and role in the deadly attacks by Hamas on Israel and at the same time, rescind the recent decision to free $6 billion in frozen funds to Iran. They and 16 other Senate Republicans …
Victory for Williams Cos. in failed merger fight
Williams Cos. won its 7-year legal fight over the failed $33 billion merger with Energy Transfer. The Delaware Supreme Court not only gave the Tulsa-based company the legal victory but $495 million to boot. Energy Transfer got the blame as the high court said the Dallas-based company controlled by billionaire Kelcy Warren was to …
The ups and downs of trading for Oklahoma energy companies
The roller-coaster ride taken by Oklahoma oil and gas companies in the past several years is obvious when a deeper dive is taken into the values of their shares. Some have risen from 95-cents per share to $25 while others saw their values plunge from $121 to $46. Oklahoma City-based Chesapeake Energy has been …
Waiting and waiting on government’s Hydrogen Hub choices
With nearly $7 billion in funding at stake, states such as Oklahoma, Arkansas and Louisiana are wondering when the Department of Energy will finally announce its selection of regional clean hydrogen hubs. It was September 2022 when the DOE’s Office of Clean Energy Demonstrations opened applications for the funding in an effort to form …