oil tax incentives

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The Oklahoma Legislature passed a bill making tax incentives for oil and gas production permanent.

Governor Mary Fallin is expected to sign the controversial legislation, despite threats of a constitutional challenge posed by an Oklahoma City attorney.

OU

Energy production tax breaks will cost Oklahoma $307 million in 2014, and $304 million in 2015.  This year state leaders expect $170 million budget shortfall.  In other words, the expected budget shortfall is about half what the state gives away in tax breaks to oil and gas companies reported Matt Trotter for Public Radio Tulsa.  

State Impact Oklahoma

As the oilfields boom in Oklahoma, so are the state tax credits for drilling reported State Impact Oklahoma.