Alex Mills

WICHITA FALLS—Upstream oil and gas activity in Texas sustained a modest expansion into the 10th straight month in September, according to the Texas Petro Index, which rose to 181.4, 21.4 percent higher than in September 2016 and 22.4 percent higher than in November, when the TPI hit bottom at 148.2. “Crude oil prices in Texas have been the essence of… Read More

Conflicting news about crude oil supply and demand created confusion for oil traders last week. In summary: refinery runs were back to normal; petroleum exports set a record; crude oil production had a big increase; oil inventories increased nationwide, but declined at Cushing, as did gasoline and distillate inventories. Sound confusing? It is. However, the bottom line is oil prices… Read More

Texas has been blessed with abundant sources of energy. Crude oil and natural gas have made Texas a powerhouse for about 100 years. Coal has been prevalent, too. Now, solar and wind are bringing new sources of power to the Lone Star State’s electric grid. The competition between these energy sources provides consumers with a reliable source of electricity to… Read More

The U.S. Department of Energy (DOE) and the Environmental Protection Agency (EPA) recently introduced two significant policy changes regarding energy following the release of studies that methane and carbon dioxide emissions continue to decline. Energy Information Administration (EIA) said on Oct. 12 “energy-related carbon dioxide (CO2) emissions fell in both 2015 and 2017, and they are expected to fall again… Read More

Stability in crude oil prices in Texas and across the nation has resulted in increased drilling, production, and an increase in the Texas Petro Index (TPI) during the last nine months. A composite index based upon a comprehensive group of upstream economic indicators, the TPI is compiled monthly and authored by economist Karr Ingham. Since April 2016, the spot price… Read More

President Trump kicked off his campaign to encourage Congress to begin serious discussions regarding tax reform. U.S. Rep. Kevin Brady (R-Tx.), chairman of the tax-writing Ways and Means Committee, has been advocating tax reform for more than a year. The proposed changes are outlined in his Tax Blueprint, which included a white paper “A Better Way: Our Vision for a… Read More

Crude oil and natural gas wellhead prices crossed a psychological price threshold last week as crude oil closed at $50.41 and natural gas closed at $3.094 on the New York Mercantile Exchange (NYMEX)on Wednesday, Sept. 20. The Energy Information Administration (EIA) released its weekly oil inventory report on Wednesday showing crude inventories rose 4.6 million barrels during the week ending… Read More

Hurricane Harvey continues to unleash its wrath on the Texas and Louisiana coast, creating serious problems for energy consumers and producers. Since Aug. 25, Harvey’s high winds and heavy rains have caused the temporary closing of some oil and natural gas exploration and production in the Gulf of Mexico and onshore southern Texas, but the major problems have been associated… Read More