“State Treasurer Optimistic About Oklahoma’s Economy”

Citing Oklahoma’s gross tax receipts for last month, Miller expressed concern about a sharp decline in gross production taxes caused by a decrease in natural gas production. As natural gas prices continue to drop, energy companies are resorting to the more profitable alternative of oil production, dramatically cutting into the state’s revenue from collections taxes. As Miller observed, this is a disconcerting trend for an industry that provides nearly a third of the state’s economy and has helped drive the state’s recovery.

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