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** General Motors Co. made a counteroffer to the United Auto Workers union, proposing a total 16% pay raise for the top wage earners in its plants and a 56% hike for newer employees who make less, the company said in a statement. UAW President Shawn Fain reacted quickly saying the proposal is “insulting.” ** …
Wind power proved to be a weakness for ERCOT in Texas
Texas grid operators are learning their wind power has some issues. They faced a dilema this week when record heat resulted in a major demand for electricity to run air conditioners. The problem? The electricity generated by wind power in South Texas. Click here for Bloomberg
Cushing and US take another hit on crude oil in storage
The nation’s crude oil in storage took another drop this week and so did the amount held at the Cushing Hub in Oklahoma. The U.S. Energy Information Administration reported the nation suffered a drop of more than 6 million barrels of oil while Cushing’s total fell nearly 2 million barrels. The declines in stocks …
Stronger dollar sent crude oil prices down on Thursday
A stronger dollar and expectations of weaker international demand resulted in U.S. and Brent crude oil futures falling by $1 a barrel on Thursday. Oklahoma energy stocks also suffered losses for the day. West Texas Intermediate crude dropped $1 or 1.14% to settle at $86.54 a barrel on the New York Mercantile Exchange. Brent …
Slump in oil and gas tax collections leads to drop in Oklahoma’s August receipts
Another sign of how much Oklahoma’s economy has slowed in the past several months, came from State Treasurer Todd Russ who said gross receipts to the treasury for August were down nearly 9% from a year earlier. Oil and gas collections were down 60%. The totals revealed a drop of $121.8 million or 8.9% …
Commissioner still can’t get answers to questions about 2021 winter storm costs
The unexplained costs of how Oklahoma’s major utilities used a new law to extend 2021 Winter Storm Uri costs are still bothering Oklahoma Corporation Commissioner Bob Anthony. Yes, that winter storm. Uri. The one that keeps on giving and giving. He raised questions in 2022 when PSO, OGE, and ONG used securitization and wondered …
Average new car costs jumped for 2023 reports AAA
AAA just came out with a new report that will likely be fuel for critics of Bidenomics and the Biden administration’s claims of how the country’s economy is doing so well. AAA’s Your Driving Costs has been a reliable data source for the expenses associated with owning and operating a brand-new vehicle for more …
Drought grows in Oklahoma according to latest Drought Monitor
The areas of Oklahoma where a severe drought is recorded are growing, according to the latest Drought Monitor released this week. The conditions could improve next week because of rain in the forecast. A large part of southern Oklahoma is covered with areas that fit under the “severe drought’ category and a few are …
Large wildfire fought near Atoka in southeast Oklahoma
Dry conditions throughout Oklahoma led to another major wildfire this week. The Limestone Gap Fire in Atoka County burned more than 1,000 acres and according to the Oklahoma Forestry Services division is only about 5% contained. The fire was named because it is in Limestone Gap, an unincorporated community in Atoka County. The town …
Canadian wildfire smoke results in nearly half of Oklahoma counties under health advisory
Smoke from Canadian wildfires spread deeper into Oklahoma on Thursday, resulting in an expanded listing of counties put under health advisories. The initial advisory from the Oklahoma Department of Environmental Quality, issued Thursday morning included 17 counties near the state line with Kansas. However, by mid-afternoon, the advisory was widened to 32 counties and …