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Decline in energy taxes slows Okla. growth rate

CBS News -- OKLAHOMA CITY - Oklahoma's economy is showing positive signs, but declining revenue from oil and natural gas production continues to place a drag on revenue flowing into state coffers, Treasurer Ken Miller said on Thursday.

The latest figures on gross receipts show collections of taxes on oil and gas production in June dropped more than 42 percent compared with June 2011. It was the seventh consecutive month that gross production tax collections fell compared with the same month of the previous year. When combined with a 5.4 percent drop in personal income tax collections in June, the overall collections were

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Submitted Jul 06, 2012 By: drpepperTX

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BoerneWatch Champion Author San Antonio Posts:15,557 Points:2,456,865 Joined:Oct 2005	Message Posted: Jul 7, 2012 9:42:48 AM Ignore BoerneWatch Report Abuse Over the past several years we have seen local poor ranchers become multi-millionaires overnight as they sign oil and gas leases. At the same time, counties and school districts have also been given an unexpected cash influx. The difference? The individuals for the most part are setting aside reserves to live off in the future and other than building fences, barns and updating their properties. When the oil and gas are depleted and the money stops coming in, they will still live a comfortable life. The counties and school districts? Well, they have an insatiable appetite for other people's money and they are spending it like there is no tomorrow. So Oklahoma is getting less money. Instead of living off the return of investment, they will eventually resort to raising tax rates which will eventually put them in a "Greece" position.
tomok Champion Author Portland Posts:33,090 Points:2,348,435 Joined:Aug 2006	Message Posted: Jul 7, 2012 3:54:43 AM Ignore tomok Report Abuse EV's, Inbreds and higher MPG vehicles are being driven, there will be less fuel to tax and less income from taxes. Big oil will always find a way to keep fuel prices high and their income high. Less state income, less money to spend. - so budget carefully! Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost. The price of fuel at the pump is too high! 12/22/2012!
AKmailman Champion Author Alaska Posts:5,648 Points:1,561,240 Joined:Jul 2004	Message Posted: Jul 7, 2012 12:53:26 AM Ignore AKmailman Report Abuse The down side to cheap oil
carman11 Champion Author North Carolina Posts:3,358 Points:695,725 Joined:Jun 2011	Message Posted: Jul 6, 2012 11:40:06 PM Ignore carman11 Report Abuse Hay I have the democrats answer. Raise taxes, what an interesting solution!!!
singlemom27 Champion Author Ventura Posts:3,128 Points:643,110 Joined:Apr 2011	Message Posted: Jul 6, 2012 11:30:04 PM Ignore singlemom27 Report Abuse Oh well; I guess OK will need to find another way to rip off residents and tourists.
cdog24 Champion Author Virginia Posts:1,468 Points:569,570 Joined:Apr 2011	Message Posted: Jul 6, 2012 11:25:23 PM Ignore cdog24 Report Abuse 4
cdog24 Champion Author Virginia Posts:1,468 Points:569,570 Joined:Apr 2011	Message Posted: Jul 6, 2012 11:24:57 PM Ignore cdog24 Report Abuse 3
cdog24 Champion Author Virginia Posts:1,468 Points:569,570 Joined:Apr 2011	Message Posted: Jul 6, 2012 11:24:26 PM Ignore cdog24 Report Abuse 3
bonzoonfmb Champion Author Florida Posts:1,792 Points:646,535 Joined:Feb 2010	Message Posted: Jul 6, 2012 11:24:07 PM Ignore bonzoonfmb Report Abuse I don't see myself ever going to OK. Maybe around.
cdog24 Champion Author Virginia Posts:1,468 Points:569,570 Joined:Apr 2011	Message Posted: Jul 6, 2012 11:24:02 PM Ignore cdog24 Report Abuse 2
Vette1967 Champion Author Albany Posts:5,987 Points:1,280,000 Joined:Jun 2009	Message Posted: Jul 6, 2012 11:23:42 PM Ignore Vette1967 Report Abuse Time to rethink how this money can be better spent knowing there isn't as much of it to spend.
cdog24 Champion Author Virginia Posts:1,468 Points:569,570 Joined:Apr 2011	Message Posted: Jul 6, 2012 11:23:34 PM Ignore cdog24 Report Abuse 1
malfrog1 Champion Author South Bend Posts:2,221 Points:553,985 Joined:Feb 2011	Message Posted: Jul 6, 2012 11:23:14 PM Ignore malfrog1 Report Abuse o k make it work.
Blue_Cruzer Champion Author Lexington Posts:7,540 Points:1,673,585 Joined:Mar 2007	Message Posted: Jul 6, 2012 11:22:57 PM Ignore Blue_Cruzer Report Abuse Old story.
langolera Champion Author Akron Posts:1,776 Points:668,905 Joined:Sep 2005	Message Posted: Jul 6, 2012 11:20:44 PM Ignore langolera Report Abuse old news
farn1958 All-Star Author Twin Cities Posts:886 Points:183,385 Joined:Feb 2011	Message Posted: Jul 6, 2012 11:07:43 PM Ignore farn1958 Report Abuse ?
DEG Champion Author Las Vegas Posts:17,640 Points:3,498,605 Joined:Jul 2003	Message Posted: Jul 6, 2012 11:01:48 PM Ignore DEG Report Abuse Vote Obama out and increase domestic production.
HawaiianGuy Champion Author Idaho Posts:9,543 Points:3,082,625 Joined:May 2003	Message Posted: Jul 6, 2012 10:59:53 PM Ignore HawaiianGuy Report Abuse Well, then, make like Obama and stick your head in the sand and hope that someone...ANYONE, fixes the problem.
69Bonne Champion Author Gary Posts:1,165 Points:476,075 Joined:Sep 2005	Message Posted: Jul 6, 2012 10:55:30 PM Ignore 69Bonne Report Abuse Watch out.
ROSYMI Champion Author Michigan Posts:1,028 Points:370,550 Joined:Nov 2011	Message Posted: Jul 6, 2012 10:54:42 PM Ignore ROSYMI Report Abuse ok
FlyNFool Champion Author South Carolina Posts:8,259 Points:1,688,875 Joined:Aug 2008	Message Posted: Jul 6, 2012 10:52:38 PM Ignore FlyNFool Report Abuse oops!
bevmill Champion Author Georgia Posts:2,597 Points:603,470 Joined:Apr 2006	Message Posted: Jul 6, 2012 10:50:48 PM Ignore bevmill Report Abuse ok
unclemattie Veteran Author Atlanta Posts:289 Points:460,955 Joined:Oct 2011	Message Posted: Jul 6, 2012 10:50:01 PM Ignore unclemattie Report Abuse I say decrease ALL taxes. Income, fuel, tolls, etc.
pgerassi Champion Author Milwaukee Posts:10,916 Points:2,135,505 Joined:Apr 2007	Message Posted: Jul 6, 2012 10:48:11 PM Ignore pgerassi Report Abuse ok
NhCobra Sophomore Author New Hampshire Posts:109 Points:431,470 Joined:Oct 2008	Message Posted: Jul 6, 2012 10:48:07 PM Ignore NhCobra Report Abuse Less tax revenues to govt? Good. Best they learn to spend less instead of borrowing more.
walkingtall Champion Author Toronto Posts:4,014 Points:1,124,605 Joined:Nov 2004	Message Posted: Jul 6, 2012 10:47:04 PM Ignore walkingtall Report Abuse That's life,more jobs would fix the problem.
umitb Champion Author Indianapolis Posts:3,697 Points:847,340 Joined:Apr 2010	Message Posted: Jul 6, 2012 10:42:51 PM Ignore umitb Report Abuse ok
DUKE_CITY Rookie Author Albuquerque Posts:88 Points:170,355 Joined:Oct 2005	Message Posted: Jul 6, 2012 10:40:21 PM Ignore DUKE_CITY Report Abuse It's life.
Rajah Champion Author Illinois Posts:7,575 Points:2,308,380 Joined:Jul 2005	Message Posted: Jul 6, 2012 10:37:24 PM Ignore Rajah Report Abuse Toll roads are very irritating. They slow me down at the toll stations and I've paid enough various taxes that the roads should be free of that nonsense. It's especially maddening around Chicago where "Hot Rod" doubled the tolls for us folks who don't live in the area and who don't have transponders.
vibdata Champion Author Massachusetts Posts:4,095 Points:849,625 Joined:Nov 2005	Message Posted: Jul 6, 2012 10:36:25 PM Ignore vibdata Report Abuse Blame it all on the oil and gas taxes. That way you can charge much more and increase the gas prices. This will then increase inflation to a point where no one will be able to buy anything. Good thinking.
mstearno Champion Author Dayton Posts:8,085 Points:1,735,115 Joined:Jan 2008	Message Posted: Jul 6, 2012 10:33:55 PM Ignore mstearno Report Abuse more jobs would fix this remember Obama is got a laser eye on the economy.... thank goodness he cares.....LOL
Bezalel Champion Author Oklahoma City Posts:12,113 Points:2,293,745 Joined:Oct 2006	Message Posted: Jul 6, 2012 10:31:16 PM Ignore Bezalel Report Abuse We have some surpluses. Not putting all your eggs in one basket could mean having more toll roads. Oklahoma has more miles of toll road per capita than any other state and second in total miles to NY.
rozellep2 Sophomore Author Illinois Posts:105 Points:577,450 Joined:Aug 2005	Message Posted: Jul 6, 2012 10:26:42 PM Ignore rozellep2 Report Abuse Ok
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Jul 6, 2012 10:26:23 PM Ignore iceman11 Report Abuse Ok
Ray_10589 Champion Author New York Posts:4,961 Points:1,185,910 Joined:May 2009	Message Posted: Jul 6, 2012 10:25:16 PM Ignore Ray_10589 Report Abuse repeat
Tracer2008 All-Star Author Alberta Posts:540 Points:313,195 Joined:Sep 2008	Message Posted: Jul 6, 2012 10:21:09 PM Ignore Tracer2008 Report Abuse Don't put all your eggs in one basket...
gobux10 Champion Author Ohio Posts:3,189 Points:682,885 Joined:Mar 2010	Message Posted: Jul 6, 2012 10:20:29 PM Ignore gobux10 Report Abuse give and take
ExplorerWA Champion Author Washington Posts:4,098 Points:800,175 Joined:Feb 2011	Message Posted: Jul 6, 2012 10:19:56 PM Ignore ExplorerWA Report Abuse Looks like they will have to raise taxes.
weenerdog Champion Author Detroit Posts:9,476 Points:1,887,815 Joined:Jan 2008	Message Posted: Jul 6, 2012 10:14:11 PM Ignore weenerdog Report Abuse goodness
bonzoonfmb Champion Author Florida Posts:1,792 Points:646,535 Joined:Feb 2010	Message Posted: Jul 6, 2012 10:11:37 PM Ignore bonzoonfmb Report Abuse You are lucky to have gotten what you did.
Crumbfel Champion Author Virginia Posts:11,554 Points:2,160,585 Joined:Aug 2006	Message Posted: Jul 6, 2012 10:10:45 PM Ignore Crumbfel Report Abuse Check
tco9436 Champion Author Connecticut Posts:1,782 Points:724,975 Joined:Mar 2010	Message Posted: Jul 6, 2012 10:09:35 PM Ignore tco9436 Report Abuse leze medical marijuana like every other state having money issues! it seem to work for them, or does it?
Goofoff Champion Author Virginia Posts:11,882 Points:2,177,200 Joined:Aug 2006	Message Posted: Jul 6, 2012 10:06:59 PM Ignore Goofoff Report Abuse Okay I read it
a_lu_vasile Champion Author Maryland Posts:1,254 Points:778,575 Joined:Jul 2008	Message Posted: Jul 6, 2012 10:06:31 PM Ignore a_lu_vasile Report Abuse ok
abcdMA Champion Author Worcester Posts:7,942 Points:1,578,880 Joined:Nov 2008	Message Posted: Jul 6, 2012 9:56:04 PM Ignore abcdMA Report Abuse too bad for them that they relied so much on petroleum to fund the state
GRUMPY55 Champion Author California Posts:1,629 Points:424,250 Joined:Oct 2011	Message Posted: Jul 6, 2012 9:55:15 PM Ignore GRUMPY55 Report Abuse ok
grandamgt1 Champion Author Illinois Posts:2,361 Points:1,243,250 Joined:Apr 2008	Message Posted: Jul 6, 2012 9:53:31 PM Ignore grandamgt1 Report Abuse That's what happens when you put all your eggs in one basket.
aarrrt Champion Author San Diego Posts:7,289 Points:1,655,430 Joined:May 2008	Message Posted: Jul 6, 2012 9:50:18 PM Ignore aarrrt Report Abuse Guess they'll have to raise taxes. What else do our elected officials know?
GLM4205 Champion Author Toledo Posts:4,072 Points:803,220 Joined:Dec 2010	Message Posted: Jul 6, 2012 9:49:41 PM Ignore GLM4205 Report Abuse So what then?
jlisk1970_us Sophomore Author St. Louis Posts:233 Points:94,930 Joined:Feb 2012	Message Posted: Jul 6, 2012 9:49:18 PM Ignore jlisk1970_us Report Abuse should help them now. Prices going up