Friday , March 29 2024

Energy News

House members vote against Biden’s LNG moratorium

  All five Oklahoma U.S. House members sided with the majority in voting to strip President Biden’s authority to permit natural gas export projects—a slap in the face to his freeze issued last month of permits to send more LNG shipments to Europe. The House vote was 224-200 and Oklahoma …

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BlackRock takes another step to back away from heavy ESG commitments

  BlackRock, the investment firm banned from doing state business in Oklahoma because of its ESG policies and alleged discrimination against oil and gas, is backing off its previous heavy commitment to an international climate change coalition. The coalition, known as Climate Action 100+ or CA100+ had promoted stronger action …

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Oklahoma energy stocks had a strong Thursday on crude oil rebound

Not only did crude oil prices rebound more than 1% on Thursday, but nearly every Oklahoma energy stock gained too and 5% and 6% jumps were common. The reason for the oil jump was U.S. retail data prompted a sell-off in the dollar. Plus, investors took stock in the International …

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$17 million in FAA grants to help airports in Tulsa and Stillwater

  Airports in Tulsa and Stillwater are among those nationally that are receiving nearly $1 billion from the Biden administration to upgrade terminal facilities. Transportation Secretary Pete Buttigieg announced the $970 million in grants Thursday for 144 airports in 44 states and three territories. The Tulsa International Airport will receive a …

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Bitcoin mining datacenter to be built in Muskogee

  A $100 million bitcoin mining facility is going up in eastern Oklahoma. The 200 MW project at the Port of Muskogee Industrial Park is an operational data center to be built by Polaris Technologies, Inc. The firm called it “Project Bifrost” and described it as “One of the Biggest …

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Groups urge Congress to overturn Biden’s LNG freeze

  President Biden faces even more pressure from a growing number of groups to overturn his freeze on LNG ports and shipments. Among the latest–the Energy Workforce & Technology Council, the IPAA, the US Oil and Gas Association, Western Energy Alliance, the National Stripper Well Association, the Texas Alliance of …

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Surge in crude stocks across U.S. and the Cushing Hub

  A more than 12-million barrel jump in U.S. crude inventories sent crude oil prices plunging on Wednesday and crude stocks at the Cushing Hub in Oklahoma added to the surprising surge. U.S. inventories rose to 439.5 million barrels last week according to the U.S. Energy Information Administration. Analysts had …

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$1 a barrel tumble by crude oil prices

  Growing U.S. oil inventories sent crude oil prices sliding by a dollar a barrel in Wednesday’s trading. Investors fear the growing crude inventory could result in less demand for oil in the nation. West Texas Intermediate, the US benchmark, dropped $1.23 or 1.6% to settle at $76.64 a barrel …

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Big quarter for Williams Cos.

  What a quarter for Williams Cos. Sixty-percent increase in net income, 5% gain in adjusted net income, 24% increase in cash flow and an increased dividend. Results for the quarter that ended Dec. 31, 2023 were released early Wednesday showing net income of $3.273 billion or $2.68 per share, …

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Williams CEO says Biden’s LNG freeze could “backfire” and result in more coal use worldwide

  Could President Biden’s freeze on permits for US LNG export terminals harm the environment rather than help it as he and his environmental supporters claim? Williams Companies CEO Alan Armstrong thinks so and here’s how—it could bring about more coal use overseas. That’s what he told Reuters this week, …

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