Oil, gas producers ask Oklahoma Legislature to increase tax
April 2, 2017
OKLAHOMA CITY (AP) — A group of small oil and natural gas producers in Oklahoma have formed an alliance and are asking the Legislature to increase the gross production tax back to 7 percent, saying the industry is committed to helping solve the state's budget crisis.
The Oklahoma Energy Producers Alliance announced Monday it plans to ask lawmakers to get rid of a generous tax cut on oil and natural gas production that was approved by the Legislature in 2014. That bill dropped the tax rate from 7 percent to 2 percent for the first few years of production, when oil and gas wells are most pr...