Ban the purchase of imported oil from Russia. It’s what the Biden administration finally did after being pressured by Republicans and Democrats in Congress. Sounds easy, right? Easy—if you’re the U.S. where purchases really total a small amount compared to European countries. Russia is the world’s biggest exporter of oil to global markets and …
War in Ukraine keeps crude oil prices high
Despite a gain on Friday, crude oil prices settled lower in trading for the week as investors remained anxious over what the war in Ukraine will do with the market. The decline for the week was the steepest since November. West Texas Intermediate cruder for April delivery jumped $3.31 to settle at $109.33 a …
Albuquerque to be site of hydrogen-based aviation plant
New Mexico state leaders are banking on making Albuquerque’s international airport the birthplace of hydrogen-based aviation. Gov. Michelle Lujan Grisham announced the airport, formally called the Albuquerque International Sunport will be the site of a a $254 million factory for new hydrogen technology developed by Universal Hydroden, a firm with operations in California, Washington and …
US rig count makes gains—Oklahoma is unchanged
With crude oil prices reaching well more than $100 a barrel, a result of Russia’s invasion of Ukraine, U.S. drilling interest expanded in the past week as Baker Hughes reported an increase in the number of oil and gas drilling rigs. While Oklahoma was unchanged with 49 rigs from last week, the most recent …
New producers reported in Oklahoma
Oil and gas exploration is still taking place in Oklahoma as crude prices are well above $100 a barrel. The latest completion reports were on wells in the SCOOP. Gulfport Midcon LLC filed completion reports this week on two wells in Grady County with combined production of nearly 1,900 barrels of oil a day …
Bice offers Act to stop oil purchases from Venezuela
Oklahoma congresswoman Stephanie Bice wants to make sure the U.S. does not buy any oil from Venezuela, an idea that President Biden and his administration offered as an alternative to ending purchases of Russian oil. Rep. Bice joined Florida Congressman Scott Franklin in the introduction of the Prohibiting Oil Trade with Venezuela’s Tyrant Act. “There …
Headlines of other energy stories
** The Environmental Protection Agency is proposing a plan that would restrict smokestack emissions from power plants and other industrial sources that burden downwind areas with smog-causing pollution they can’t control. The federal plan announced Friday is intended to help more than two dozen states meet “good neighbor” obligations under the Clean Air Act. Sen. Joe Manchin …
TC Energy says Keystone XL pipeline is dead
Despite increased calls for TC Energy to attempt a resumption of construction on the cancelled Keystone XL pipeline in light of the U.S. ban on purchases of Russian crude oil, the Canadian company is standing firm…it will not proceed. It’s the response of the company reported South Dakota Public Broadcasting. Click here for SDPB
Colorado regulators reject Kerr-McGee residential drilling plan
The Colorado Oil and Gas Conservation Commission turned aside Kerr-McGee’s request to drill closer than 2,000 feet to homes and nearby schools. It was considered the first major test of Colorado’s requirement that oil and gas drilling be set back at least that distance from residential areas. The Colorado Sun reported the application included …
Oklahoma, Arkansas and Louisiana form hydrogen hub effort
Oklahoma has joined Louisiana and Arkansas in plans to develop a “hydrogen hub” supported by $8 billion in the 2021 federal infrastructure bill. “Oklahoma is honored to join in forming this partnership, not because of convenience, or necessity, but rather because we share a similar vision and goals for the production, use, and economic impact …
