Comment on Communications grow chippy between governor, oil and gas industry

Communications grow chippy between governor, oil and gas industry

By Randy Ellis Staff Writer rellis@oklahoman.comBehind the scenes communications between the governor's office and Oklahoma's oil and gas industry have grown chippy in recent weeks over budget discussions that have included talk of raising the gross production tax to 5 percent. The oil and gas industry traditionally has received a variety of tax incentives for different types of wells, but the base temporary rate for new wells currently starts out at 2 percent for the first three years before rising to 7 percent. When word leaked out that the governor and legislature were at least considering the possibility of raising the gross production rate to 5 percent to fill part of the state's $215 million budget hole, the presidents of the Oklahoma Oil & Gas Association and Oklahoma Independent Petroleum Association sent a letter to Gov Mary Fallin. "OKOGA and OIPA are writing you today to make clear that we adamantly oppose a fourth round of tax increases on the oil and natural gas industry, OKOGA President Chad Warmington and OIPA President Tim Wigley said in their Sept.Read more on NewsOK.com

 

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