State taxes on motor fuel haven’t been touched since 1987. There are a lot of similarities between the situation then and what Oklahoma lawmakers now face: An economy shaken by low oil prices and dwindling revenue streams to fund state government.
“It makes anybody happy when they get something for a lesser price,” he says. “Now, of course, that has all kinds of repercussions on the other side, you know, in a state like Oklahoma, where a lot of the tax revenues come from it.”
Mike Mackey, owner of Osage Wireline Inc. cut half his workforce last month.