Tulsa-based Alliance Resource Partners, considered one of the major coal mining companies in the nation, reported increased total revenues in the third quarter, but also lower net income. The company released its earnings report on Friday showing total revenues of $636.5 million compared to $632.5 million a year earlier. …
Read More »Senate hearing to explore Michelin plant closing
Members of an Oklahoma Senate Committee want to know more details about what led to Michelin’s decision announced this week to close its tire production plant in Ardmore, a move that will put 1,400 employees out of work sometime in 2025. The Senate Select Committee on Business Retention and …
Read More »Rig numbers remain steady in Oklahoma while nation sees slight gain
Oklahoma’s oil and gas rig count held steady in the past week while the national total increased by one to 625. Baker Hughes Co. released its weekly Rig Count on Friday showing a pickup of 2 oil rigs to reach a total of 504 while the number of gas-drilling …
Read More »PSO hands out free LED light bulbs
Public Service Company of Oklahoma (PSO) says it will distribute 122,000 free LED bulbs to Oklahoma families this year. In the past 10 years, PSO’s Shine a Light program has distributed almost 1 million energyefficient bulbs, which last longer and use less energy. For PSO customers, that has meant …
Read More »EV maker Canoo is bleeding cash
After being told the state of Oklahoma would offer $100 million in incentives in August, EV maker Canoo has seen its stock plummet in price. Trading closed at 26 cents a share on Friday as the car maker moved ahead with transforming a former plant in west Oklahoma City …
Read More »AG alleges construction embezzlement
An Oklahoma contractor was charged today with nine counts of felony embezzlement and a pattern of criminal offenses after an investigation by the Attorney General’s Consumer Protection Unit. The Office of the Attorney General charged Benjamin Moore, 36, in Pottawatomie County District Court after the investigation revealed he allegedly took …
Read More »Crude oil managed 3% gain on Friday while OK energy stocks slumped
Crude oil prices wrapped up the week with gains of nearly 3% on Friday as worries grew that the fighting in Israel and Gaza might lead to a wider conflict in the Middle East. At the same time, Oklahoma energy stocks experiences losses of 2% to 3%. West Texas Intermediate …
Read More »Oklahoma House members supported Act to rein in Green New Deal
All five Oklahoma Representatives in the House recently voted in support of a measure that not only reins in the Biden administration’s Green New Deal policies but funds improvements in the nation’s waterways. Rep. Tom Cole, Vice Chairman of the House Appropriations Committee eagerly gave his support to H.R. …
Read More »Michelin to close its Ardmore tire plant affecting 1,400 workers and southern Oklahoma economy
After half a century of making tires in Oklahoma, the Ardmore tire plant is closing. Michelin announced it plans to close its tire plant in Ardmore, putting nearly 1,400 employees on the unemployment line. It is the city’s largest employer and the shutdown could mean a rocky and rough …
Read More »Crude oil dropped 2% in Thursday’s trading while OK energy stocks recorded minor gains
Thursday brought another day of losses for crude oil prices while Oklahoma energy stocks eaked out some minor gains. Crude was down to its lowest prices in two weeks as Israel agreed to delay a possible ground invasion of Gaza until later in the week. Both WTI and Brent …
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