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Energy Report: Kelcy Warren in hot water over Dakota Access pipeline

July 6th, 2017 under Top Stories

Rig count rises

By NICK WINCHESTER

nick@bigbendnow.com

TEXAS — Kelcy Warren’s Energy Transfer Partners are facing yet more controversy relating to their Dakota Access pipeline.

In November, the North Dakota state Public Service Commission filed a complaint against ETP after they allegedly misreported the discovery of American Indian artifacts during the construction of the pipeline. The commission has proposed a $15,000 fine.

The public hearing is scheduled for August 17, according to media partners CBS 7.

The rig count in Texas rose one this week to 461, which is up 263 from last year’s total for the same week, according to oilfield services firm Baker Hughes. On a national level, the rig count was 941, up from 908 last month. U.S. crude oil production remains steady at 9.35 million barrels per day, the price of which rose 1.9 percent, to $49.68 a barrel, according to Reuters.

For the Texas economy, this year’s sinking price of oil has meant a lower-than-expected increase in drilling, and an above average-for-the-nation rise in unemployment., at 0.5 percent. On the flip side, the solar and wind energy sector has seen continued growth despite the cheap oil and gas price. Across the state, developers are initiating solar and wind projects.

U.S. gas prices are at $2.23 a gallon ($2.03 a gallon in Texas), their cheapest Independence Day levels for over a decade, according to GasBuddy.com.

“Gas prices are finding their sweet spot as a drop of 5 cents gallon in the last week, put prices well below what they were selling for at the beginning of the year” said Dan McTeague, Senior Petroleum Analyst with GasBuddy.com. “Not only are we paying less despite tradition summer demand patterns which inevitably push up gas prices, but having lower prices for Independence Day than on January 1st, in the same year, is unprecede

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