• GE 2Q profit jumps 13 pct on aviation, oil and gas

    Updated: Fri, Jul 18, 2014

    NEW YORK (AP) — General Electric's net income rose 13 percent in the second quarter on strong performance from its aviation and oil and gas divisions. The company said orders, especially those in developing countries, were strong and that the global economic environment continues to be positive. GE also said that its previously announced plan to spin off its credit card business with an initial public offering is targeted for late July. GE said it plans to sell 15 percent of the company, to be called Synchrony Financial, and raise $3.1 billion in the process. That values all of Synchrony at $20.7 billion.

  • Chicago residents compete in energy-saving contest

    Updated: Fri, Jul 18, 2014

    CHICAGO (AP) — Hundreds of Chicago residents have taken part in a competition to see who could conserve the most energy, resulting in total savings of $54,000 in energy bills. The seven residential buildings that took part also saw an average reduction of 20 percent in electric, gas and water use. The six-month competition was sponsored Mayor Rahm Emanuel's office and the Hispanic Housing Development Corporation. It involved multifamily buildings and senior living properties in the Humboldt Park and Logan Square neighborhoods. Emanuel said Thursday that it showed residents "how simple actions can result in real, tangible savings for their families and the environment." The winning building will receive $25

  • UK working with China firm on carbon capture

    Updated: Fri, Jul 18, 2014

    LEXINGTON, Ky. (AP) — The University of Kentucky has partnered with a Chinese company on a project to capture and store carbon dioxide emissions at a power plant in China. The university says carbon dioxide will be captured from a coal-burning unit at the Shengli power plant in Dongying in eastern China. The project is aiming to capture 1 million tons of CO2 per year. The project is sponsored by the US-China Climate Change Working Group. The university's Center for Applied Energy Research is working with the Sinopec Corp.'s Shengli Oilfield Co. and Petroleum Engineering Construction Corp. The university says the goal is to develop a series of technologies to capture, transport, store and monitor carbon dioxide.

  • Geopolitical turmoil sends oil prices above $103.

    By The Associated Press | Published: Fri, Jul 18, 2014

    The price of oil rose 2 percent Thursday on lower U.S. inventories and concerns that geopolitical tensions could disrupt global supplies.

  • Oil and gas prices for July 18

    Updated: Thu, Jul 17, 2014

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Thursday: Oklahoma Sweet: Sunoco Inc. — $99.75 Oklahoma Sour: Sunoco Inc. — $87.75 Oklahoma oil and gas drilling activity posted June 30: COMPLETION Carter: Mack Energy Co.; Wildcat Jim Penn Unit No. 183 Well; C W1/2 SE1/4 NW1/4 of 31-01S-02W; 4 barrels oil per day, 30,000 cu-ft gas per day; TD 3,300. Mack Energy Co.; Wildcat Jim Penn Unit No. 183 Well; C W1/2 SE1/4 NW1/4 of 31-01S-02W; 4 barrels oil per day, 30,000 cu-ft gas per day; TD 3,300. Custer: Sanguine Gas Exploration LLC; Lealon No. 1-28H Well; NE1/4 NE1/4 NW1/4 NE1/4 (BHL) of 28-15N-16W; 139 barrels oil per day, 71,000 cu-ft gas per day; TD

  • Aubrey McClendon selected to manage second energy investment firm

    By Paul Monies, Business Writer | Published: Fri, Jul 18, 2014

    Oklahoma City’s Aubrey McClendon is teaming up with another group of real estate investors to buy oil and gas assets. Energy 11 LP of Fort Worth, Texas, filed paperwork Thursday to raise up to $2 billion.

  • Mosquito trap causes bomb scare at power plant

    Updated: Thu, Jul 17, 2014

    ROCK SPRINGS, Wyo. (AP) — A suspicious device at a southwest Wyoming power plant turned out not to be a bomb, but it might have hurt a mosquito or two. Security guards spotted the object at the Jim Bridger Power Plant around midnight Wednesday. The device had wires connected to a small battery. A bomb squad was called out to the coal-fired power plant. Sweetwater County sheriff's officials say bomb experts looked over the device and even X-rayed it. It was a mosquito trap. Weed and pest officers routinely put out the traps to check for mosquitoes that carry the West Nile virus.

  • Hickenlooper asks public to reject oil, gas limits

    Updated: Thu, Jul 17, 2014

    DENVER (AP) — A day after giving up on efforts to call a special legislative session on oil and gas drilling, Gov. John Hickenlooper appealed to the public Thursday to decry possible ballot measures to curb the industry. Hickenlooper joined dozens of industry allies to say that proposed ballot measures to increase drilling setbacks and add environmental protection rights to the Colorado Constitution could cost thousands of jobs. "We all agree that putting a 2,000-foot setback in the state constitution, or attempting to resolve these issues in the November ballot, is a bad idea for Colorado," Hickenlooper said. The oil and gas industry has said the ballot measures would ban drilling, though supporters of the ballot mea

  • Oklahoma energy briefs for July 18, 2014

    Published: Thu, Jul 17, 2014

    Oklahoma energy briefs for July 18, 2014

  • States sue 5-Hour Energy over ad claims

    Updated: Thu, Jul 17, 2014

    PORTLAND, Ore. (AP) — Two attorneys general from the Northwest have sued the companies responsible for the popular 5-Hour Energy drink, alleging they engaged in deceptive advertising. The Oregon lawsuit filed Thursday in Portland contends 5-Hour Energy falsely claims customers get extra energy and focus from a unique blend of ingredients, when the boost actually comes from a concentrated dose of caffeine. The suit also targets claims that users don't experience a crash when the effects subside and that the product is OK for adolescents. Oregon has been part of a group leading a 33-state investigation into the accuracy of the product's claims. Washington state's attorney general filed a similar lawsuit Thursday in Kin

  • Oklahoma Gas and Electric Co. tops J.D. Power customer satisfaction rankings in region for second year

    By Paul Monies, Business Writer | Updated: Thu, Jul 17, 2014

    J.D. Power ranked Oklahoma Gas and Electric Co. No. 1 in the south region among large electric utilities in its latest report on customer satisfaction. Public Service Co. Oklahoma came in at No. 23 among medium-size electric utilities.

  • Court further limits reach of gas drilling law

    Updated: Thu, Jul 17, 2014

    HARRISBURG, Pa. (AP) — A Pennsylvania court has further limited the reach of a major 2012 law that modernized drilling regulations, ruling Thursday that state public utility regulators cannot review how local zoning restrictions affect the natural gas industry. The Commonwealth Court decision threw out the Public Utility Commission's newly authorized power to withhold drilling fee revenue from municipalities whose zoning it deems to illegally restrict drilling activity. The decision is another blow to an effort by Gov. Tom Corbett and the Republican-controlled Legislature to respond to the drilling industry's complaints about municipal zoning.

  • Group's ads praise Kansas governor over coal plant

    Updated: Thu, Jul 17, 2014

    TOPEKA, Kan. (AP) — A Washington-area group with ties to veteran Republican operatives is spending at least $246,000 on radio and television advertisements in Kansas markets praising conservative GOP Gov. Sam Brownback ahead of the state's primary election, records showed Thursday. The Alliance for Freedom ads also attempt to build public support for a proposed coal-fired power plant in southwest Kansas and stir opposition to the federal Environmental Protection Agency as it attempts to cut greenhouse gas emissions blamed for climate change. Brownback supports the $2.8 billion coal plant and has criticized a new EPA rule on power-plant emissions as "a war against middle America.

  • Oil rises past $103 on geopolitical turmoil

    Updated: Thu, Jul 17, 2014

    The price of oil rose 2 percent Thursday on lower U.S. inventories and concerns that geopolitical tensions could disrupt global supplies. Benchmark U.S. crude for August delivery rose $1.99 to close at $103.19 a barrel on the New York Mercantile Exchange. On Wednesday, the Nymex contract added $1.24 to close at $101.20. Brent crude for September delivery, a benchmark for international oils used by many U.S. refineries, rose 72 cents to close at $107.89 on the ICE Futures exchange in London. A series of geopolitical events pushed prices higher by raising concern that oil supplies could be disrupted, even though no disruptions were imminent.

  • Michigan denies Detroit oil byproduct storage

    Updated: Thu, Jul 17, 2014

    TRAVERSE CITY, Mich. (AP) — A company cannot store piles of petroleum coke at an open riverfront site in Detroit because it does not have adequate measures in place to control dust, a Michigan state agency said Thursday. Detroit Bulk Storage did not go far enough to prevent air pollution, said Lynn Fiedler, chief of the air division of the Michigan Department of Environmental Quality. "In order for the bulk storage and handling of petroleum coke to be considered for this location, at a minimum, an enclosure or similar containment measure is necessary, as well as further control of fugitive emissions during petroleum coke handling," Fiedler said in a letter to the company.

  • Regulators to discuss Oconee Nuclear Station crack

    Updated: Thu, Jul 17, 2014

    COLUMBIA, S.C. (AP) — Federal regulators have scheduled a meeting to discuss a radioactive water leak that led to the shutdown of a South Carolina nuclear reactor, officials said Thursday. The U.S. Nuclear Regulatory Commission is to meet in Atlanta on July 31 to discuss the incident at the Oconee Nuclear Station. The session is open to the public, and NRC representatives will be on hand afterward for individual conversations. In November, officials shut down a reactor at the Duke Energy-run facility near Seneca, about 30 miles west of Greenville. The shutdown came after engineers detected flaws in the airtight, steel-lined concrete containment building designed to prevent any radiation from leaking into the air or ground.

  • Gasoline prices in Arizona at $3.57 per gallon

    Updated: Thu, Jul 17, 2014

    PHOENIX (AP) — Gasoline prices around Arizona are slightly lower at the pumps this week. Officials with Triple-A Arizona said Thursday that the average statewide price for unleaded regular gasoline is $3.57 a gallon. That's down by more than a penny from last week. This week's national average is at $3.59 per gallon, down by almost a nickel from last week. Tucson has Arizona's lowest average gasoline price at $3.38 a gallon and Flagstaff has the highest at $3.79. South Carolina has the lowest average gas prices among states in the continental U.S. at $3.32 a gallon with California having the highest at $4.07 a gallon.

  • Gold, silver prices rise on news of downed plane

    Updated: Thu, Jul 17, 2014

    Gold and silver prices rose Thursday following news that a passenger plane crashed in eastern Ukraine. Ukrainian officials said the plane was shot down, though both the government and the pro-Russia separatists fighting in the region denied any responsibility. The incident brought investors new worries about the region. Tensions have been building between Russia and the West over the conflict in Ukraine and Russia's annexation of the Crimean Peninsula. Traders moved money into precious metals futures, a traditional safe-haven investment favored in time of geopolitical instability. Gold for August delivery rose $17.10, or 1.3 percent, to $1,316.90 an ounce. Silver for September delivery rose 36 cents, or 1.7 percen

  • APNewsBreak: Iowa nixes solar grant after lobbying

    Updated: Thu, Jul 17, 2014

    IOWA CITY, Iowa (AP) — Gov. Terry Branstad's administration surrendered a $1 million grant designed to make Iowa a nationwide leader in solar energy after electric utilities lobbied for major changes, emails show. The Iowa Economic Development Authority and the U.S. Department of Energy terminated the grant after months of negotiations over what work would be required to meet its goal of helping cut costs and regulations to speed solar adoption. The sticking point came when Iowa officials amended an original proposal and insisted the grant not be used to evaluate solar energy policies — a change that utility lobbyists sought, according to emails obtained by The Associated Press under the public records law.

  • Details of court ruling on 2012 gas drilling law

    Updated: Thu, Jul 17, 2014

    Details of Thursday's Commonwealth Court ruling on a lawsuit challenging aspects of a 2012 law that updated Pennsylvania's oil and gas drilling regulations: STRUCK DOWN — The Pennsylvania Public Utility Commission's power to withhold drilling fee revenue from municipalities whose zoning it deems to illegally restrict drilling activity. UPHELD — Exclusion of private water users from the requirement of who must be notified by Department of Environmental Protection of potential drilling contamination. — Ability of a corporation empowered to transport, sell or store natural gas to take property by eminent domain under certain conditions. — Limits on what doctors may reveal about the proprietary con