Low Natural Gas Price Could Hurt the State Budget

• Joe Wertz
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  Joe Wertz was a reporter and managing editor for StateImpact Oklahoma from 2011-2019. He reported on energy and environment issues for national NPR audiences and other national outlets. He previously worked as a managing editor, assistant editor and staff reporter at several major Oklahoma newspapers and studied journalism at the University of Central Oklahoma.

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Worry over the low natural gas price seems to be spreading.

State Senate President Pro Tem Brian Bingman, via the Tulsa World’s Barbara Hoberock:

“I’m a little concerned on the potential revenue shortfall with natural gas prices,” said Bingman, R-Sapulpa.

Bingman and State Treasurer Ken Miller suggested not spending the entire amount of revenue certified by the Board of Equalization in February, which factored in a higher natural gas price. Leave a cushion, basically.

Producers also play a role, Bingman tells the paper.

“If producers are not receiving a reasonable amount for their gas, they can shut their wells down,” Bingman said. “There is no sense in dumping more gas on the market to further deplete the price of natural gas.”