A bipartisan bill that would limit the sales of oil from the nation’s Strategic Petroleum Reserve to groups controlled by Communist China was filed Wednesday the Sens Joe Manchin, the Democrat from West Virginia and Ted Cruz, the Republican from Texas. It has the support of a bipartisan group of senators including Tom Cotton, …
Cushing hub sees more crude oil in storage
The buildup of crude oil in storage at the Cushing hub in northern Oklahoma had no letup in the past week, another sign of what has happened to petroleum inventories. The U.S. Energy Information Administration reports Cushing now holds, as of January 27, 2023, an estimated 38 million barrels of crude oil, a gain …
Bill filed to end residential solar power bans
A bill was filed prior to the start of the Oklahoma legislative session to end housing restrictions against residential solar power projects. Ardmore Rep. Tammy Townley filed House Bill 1023 which provides that an owners association, such as an HOA, may not prohibit the installation of solar energy systems. “This bill mirrors the Texas …
Devon’s CEO talks of acquisitions and disposals in the oil and gas industry
Devon Energy CEO Rick Muncrief says the company’s merger with WPX Energy a few years ago worked because both firms embraced shareholders’ demands for more capital discipline. He spoke of the needs for industrial logic, true synergy and accretion for mergers to be successful during a speech at the 2023 NAPE Summit in Houston …
OK energy stocks dropped along with crude prices in Wednesday’s trading
Crude oil prices slid more than $3 a barrel in Wednesday’s session after U.S. .government data showed still more big increases in crude oil, gasoline and distillate inventories. At the same time, Oklahoma energy stocks suffered losses. West Texas Intermediate crude dropped 3.1% on a $2.46 fall per barrel to $76.41 on the New …
Another round of heated exchanges between Oklahoma regulators
Oklahoma Corporation Commissioner Bob Anthony thinks he and the two other commissioners have a constitutional responsibility to question billions of dollars in utility fees and rates. Especially cases involving ratepayer-backed bond programs that will extend 25 to 28 years. Fellow Commissioner Todd Hiett thinks Anthony is “always chasing some conspiracy theory.” Commission Director of …
Sen. Mullin draws committee assignments including Environment and Public Works
Oklahoma U.S. Sen. Markwayne Mullin managed to carry over the energy work he did when he was on the House Energy and Commerce Committee to the Senate’s Environment and Public Works Committee. It was the same committee once chaired by retired U.S. Sen. Jim Inhofe, the man he replaced in the November 2022 election. …
Drought clings to much of Oklahoma
The drought in eastern Oklahoma might show signs of easing this week based on the latest winter storm. Otherwise, the Oklahoma Mesonet reported little improvement across the state. There was little change in Oklahoma’s drought situation in January, with 89% of the state in at least moderate drought at the end of the month according …
State Treasurer launches effort to find banks that discriminate against oil and gas companies
Oklahoma State Treasurer Todd Russ launched his efforts to locate those financial institutions that are discriminating against Oklahoma energy companies in the name of their ESG efforts. The Treasurer sent a letter and questionnaire to a list of national financial institutions, including fund managers and banks, to determine which companies “boycott energy companies” in Oklahoma. …
AARP to update its Oklahoma advocacy at state capitol
AARP Oklahoma, the group that has led a fight against continuing Corporation Commission approval of rate hikes and fuel cost adjustment hikes plans a virtual conservation next week to discuss its statewide advocacy work. During the Thursday, Feb. 9 event that starts at 10 a.m., AARP Oklahoma State Director Sean Voskuhl will outline advocacy …