Oil and Gas Boom

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Governor Signs Bill to Bank Booming Revenue to Fund State During Oil Busts

Gov. Mary Fallin speaking at the 2013 Governor's Energy Conference in Tulsa, Okla.

Gov. Mary Fallin on Friday signed into law legislation that banks boom-time tax revenues to cushion the state during energy downturns. The Energy Revenues Stabilization Act was created through House Bill 2763, authored by Rep. John Montgomery, R-Lawton. The measure siphons off above-average tax revenues levied on corporations and oil and gas production and saves [...]

The Promise and Peril of $1 Gasoline in Oil-Rich Oklahoma

Gene Howell, an employee at Reeder's Auto and Tire in midtown Tulsa, Okla.

“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.”

Plummeting Oil Prices Have Pushed Oklahoma Into a ‘Mini-Recession’

Workers uncap a well in the western Oklahoma oil field in 2014.

Slumping oil prices have fueled thousands of job losses in big energy states like Oklahoma, which is “gripped by a mini-recession,” economist Mark Snead tells the Journal Record‘s Kirby Lee Davis: “The notion that Oklahoma has diversified away from oil and gas is, at this point, many, many years away,” he said.

Delayed Federal Fracking Rules Affect Wells on Tribal Land in Oklahoma

A water line for hydraulic fracturing traverses an oil and gas access road in Woods County.

A federal judge in Wyoming this week delayed the start of new rules for fracking on federal lands, issuing a temporary stay to give the federal government more time to explain how it developed the rule, The Hill and Casper Star-Tribune report. The Hill’s Timothy Cama says the ruling is a setback for the Obama [...]

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