Tag: horizontal drilling

A response to The Oklahoman

A shorter version of this article was submitted to the Oklahoman as a letter to the editor. The version below was originally submitted as an op-ed, which The Oklahoman declined to publish.  A recent Oklahoman editorial takes issue with a… Read more [More...]

The incredible disappearing gross production tax

With all the attention last legislative session on the failed attempt to do away with the state personal income tax, a potentially bigger story seems to have escaped most people’s notice: the effective disappearance of the gross production tax. This… Read more [More...]

Unnecessary and Unaffordable: The case for curbing Oklahoma’s oil and gas tax breaks

Oklahoma should eliminate tax breaks for the oil and gas industry that are no longer needed and are threatening the state’s fiscal stability by squeezing out resources for schools, roads, public safety, and other keys to long-term economic growth, according… Read more [More...]

The tax expenditure reform dog: Still not barking

Four months ago, a legislative task force chaired by Rep. David Dank and Sen. Mike Mazzei laid out an ambitious agenda for reforming Oklahoma’s tax expenditures. The group’s recommendations included ending tax credit transferability, enacting caps, sunsets, and regular audits… Read more [More...]

Stand back, we don’t know how big these things may get

In the final days of the 2010 session, when legislative leaders were faced with historic revenue shortfalls and were desperate for ways to balance the budget, a deal was struck with representatives of the energy industry on oil and gas… Read more [More...]

Over a Barrel: How we ended up on the hook to oil and gas producers to the tune of $294 million

NOTE: This week, Oklahomans learned the state was on the hook to pay oil and gas producers $294 million over the next three years in deferred tax rebates for horizontal and deep well drilling in 2010 and 2011, an amount… Read more [More...]

From the Archives: I don't need it but I'll take it – Revisiting oil and gas tax breaks

Note: This afternoon, the Task Force for the Study of State Tax Credits and Economic Incentives will be examining gross production tax exemptions. This blog post on the subject initially ran in March 2011. A recent news report examining proposals… Read more [More...]

I don't need it but I'll take it – Revisiting oil and gas tax breaks

A recent news report examining proposals to limit the federal tax deduction for charitable giving concluded with a comment that gets to the crux of the debate over tax breaks: As one donor explained, he doesn’t give to charity to… Read more [More...]