The Business » Energy

More good ink for Oklahoma

business — Wed, 18 Nov 2009 16:37:14 +0000

Oklahoma and Oklahoma City have been the recipients of a fair amount of good media coverage that has focused on the city’s MAPS-driven, NBA-approved renaissance, and the state’s relatively robust economy. The Economist recently joined the publicity parade with a column titled “Come Home, Tom Joad.”

The “Grapes of Wrath” theme plays out in the article’s final paragraph:

Still, many states would envy Oklahoma at the moment. And its leaders are trying to take advantage. Natalie Shirley, the state’s commerce secretary, says that a few years ago she had the idea of getting a list of Oklahoma university graduates sorted by age, course and zip code. Her office sent out a volley of postcards to young engineers who had scattered around the country, directing them to a website that had a list of job openings and a cost-of-living calculator. Between 2005 and 2007 Oklahoma had some 6,000 transplants from California. The grapes of wrath taste a little sweeter now.

To see the entire column, click here.

Don Mecoy
Business Writer

The $300,000 clunker

business — Mon, 28 Sep 2009 10:57:11 +0000

The Detroit Free Press ferrets out some fascinating details from government data about the recently concluded Cash for Clunkers program. Someone traded in a 1997 Bentley Continental R, which had an original price of more than $300,000, in exchange for no more than $4,500 credit toward a new car.

Some enthusiasts would have paid many thousands of dollars for the rare 1987 Buick GNX destroyed under the program; only 547 were built. The nation’s supply of used Chevrolet Corvettes was thinned by 131, including 34 convertibles, and the program also liberated 22 Americans from the burden of owning a Peugeot.

And this

And 37 people decided to clunk models that were less than a year old.

Don Mecoy
Business Writer

Larry Nichols on CNBC

business — Wed, 01 Jul 2009 20:00:00 +0000

Devon Energy CEO Larry Nichols appeared on CNBC’s Kudlow Report on Tuesday to talk about the cap-and-trade legislation. Nichols is adept at these kind of spots, but Kudlow’s questions could have been written by Devon’s corporate communications department.


Don Mecoy

Business Writer



A Martian view of U.S. oil industry
business — Tue, 12 May 2009 10:27:08 +0000
This 1956 cartoon created by the American Petroleum Institute, and archived by the Internet Achive, was designed to promote the oil industry. It is surprisingly entertaining. Martians, who already had developed interplanetary travel, needed help from America’s oil industry to understand how petroleum and competition can boost the standard of living for all Martians. 
The oil industry information gets going in earnest at about the 7:30 mark. Notice how the oil companies use explosives to search for oil deposits. (via Boing Boing)

Don Mecoy

Business Writer



Pickens tip of the day
business — Tue, 10 Feb 2009 10:27:09 +0000

Widget link above taken from pickensplan.com
—

Since the day it was launched, the Pickens Plan Web site has done a good job of organizing and supporting backers of Boone Pickens’ initiative to boost wind power and natural gas energy. One of the regular features that I have found interesting is the “Fact of the Day.”
A few examples:
– 70% of the oil we import is used for transportation.
– In 1970, we imported 24% of our oil.  Today it’s nearly 70% and growing.
– The top five states, in terms of wind power generating capacity, are Texas, Iowa, California, Minnesota and Washington.
– The new wind projects completed in 2008 account for about 42% of the entire new power-producing capacity added nationally last year and will avoid nearly 44 million tons of carbon emissions, the equivalent of taking over 7 million cars off the road.
Don Mecoy

Business Writer



Devon Energy: No layoffs ever
business — Mon, 09 Feb 2009 10:02:34 +0000

We recently ran a story about several Oklahoma businesses that made Fortune’s list of the “Best 100 Companies to Work For.”  As part of Fortune.com’s online coverage, the writer takes note of several large companies that have managed in good times and bad to avoid ever laying off an employee.
Devon Energy, which placed 13th overall in the list of top 100 companies, was featured:
The company has been able to avoid layoffs by making sure it keeps costs low during economic downturns and booms alike. Before the current crisis, Devon chopped its operating budget to match its cash flow from oil and gas production.
Devon also takes a prudent approach to hiring, maintaining an efficient workforce of highly trained employees. Voluntary turnover is a steady 4% a year. And instead of the traditional annual salary review, the company’s compensation process is flexible: In slow years, employees sometimes forego raises, and in good times, they may be rewarded with midyear pay increases.
That has got to make Devon employees feel pretty good, particularly when the company’s earnings reports turn sour.
Don Mecoy

Business Writer



Business Week on SemGroup
business — Wed, 04 Feb 2009 19:27:43 +0000

John A. Catsimatidis 
Business Week magazine this week wrote about the attempts of New York billionaire John A. Catsimatidis to gain control of bankrupt Tulsa energy company SemGroup LP. The supermarket magnate has taken a hard-line approach to acquire SemGroup assets “on the cheap,” Business Week writes.
Catsimatidis, who has obtained several seats on the company’s board, has made broad assurances that he will save jobs, keep the company in Tulsa and restore the business’ strong philanthropic ways. However, SemGroup executives are working with other potential buyers, and Catsimatidis’ methods are making those efforts more difficult.
What’s more, (SemGroup CEO Terry) Ronan says, Catsimatidis’ grandstanding is scaring off bidders for its pipelines, storage tanks, asphalt-mixing operations, and other businesses, potentially lowering their values. According to Ronan, during the holidays one bidder almost backed out of a deal to buy a SemGroup property over worries about the increasingly public fight between Catsimatidis and management. “Fortunately, we were able to convince them that they should continue,” says Ronan. “But [the fight] certainly has delayed things.”
Catsimatidis is expected to unveil his plan in the coming days.
Don Mecoy

Business Writer



Gov. Brad Henry on Pickens Plan
business — Tue, 23 Dec 2008 17:55:32 +0000

A few days ago, Oklahoma City Mayor Mick Cornett talked to someone from the Pickens Plan Web site about the city’s view of the plan to develop a comprehensive national energy plan. Today, Gov. Brad Henry weighs in.
We are in the process of encouraging, facilitating and incentivising the development of the all-important transmission lines—the grid —to get power from the remote areas of the state into the urban areas that use the power. This is one of the many places where Oklahoma is really exactly in line with the Pickens Plan. 
Henry also touts the Oklahoma Bioenergy Center.
(By the way, Gov. Henry, you might want to update that photo gallery on your Web site. Looks like the latest photos, which are of your wife, are at least two years old.)
Don Mecoy

Business Writer



Mayor Mick and T. Boone
business — Thu, 18 Dec 2008 17:08:40 +0000

Oklahoma City Mayor Mick Cornett discusses alternative energy and T. Boone Pickens’ plan for boosting wind energy and natural gas at pickensplan.com. In the course of the interview, he drops this little teaser:
This morning I had a long conversation with a company that is involved in providing support and services for the wind industry. I don’t want to disclose who we’re talking to, but their business is definitely expanding. We feel like the manufacturing, the assembly, and the corporate headquarters that these growing companies are going to need could be served here in Oklahoma City right alongside the traditional fossil fuel industries that are also based here.
More here.
Don Mecoy

Business Writer



Cheap Gas?  Fuel at $2.99 suddenly looks like bargain
business — Mon, 06 Oct 2008 11:14:59 +0000


 The weekend began with a pleasant surprise for me when I saw signs advertising gas prices at $2.99 at local 7-Eleven stores.  


Turns out, the news was even better. 


 I stopped at the Sam’s Club at Memorial Road and Pennsylvania on Friday evening  and was able to fill up my car for $2.93, with a 5 cent per gallon discount I got with my Sam’s card.  Shades of, what, 2007? 


Then I drove over to Fort Smith to visit my parents, and when I fueled up again to return back to Oklahoma City, the price there was $3.15.  Downer.

 Not sure what fuel prices will be to start the week.  I’ll look on my way to work today and report what I see.


UPDATE:  My editor, Clytie Bunyan, reported that she filled up for $2.89 a gallon this weekend at a southside station.  Fellow reporter Debbie Blossom said that a 7-Eleven at NW 10 and May Ave. was advertising gas prices at $2.89.  Fill up and enjoy it while it lasts!  


 Jim Stafford 


Business Writer