Biden’s administration could affect Oklahoma’s energy industry in surprising ways
Jack Money | USA Today
Presidential administrations and Congresses throughout the past 40 years undoubtedly worked to nudge the nation’s energy and climate-related policies one way or another.
Debates about ways to support the energy industry both in Oklahoma and across the nation have been part of every presidential and congressional election since the 1980s, and subsequent governmental actions have prompted applause or angst as they have helped or hurt energy production along the way.
That’s no surprise. While the number of Oklahomans employed by oil and gas companies in the state is relatively small, the industry’s impact on the overall health of the state’s economy and the services provided by state and local governments is huge.
A report issued by the Oklahoma State Chamber in September 2016, for example, showed:
Energy industry slowdowns, it observed, typically lead to losses of gross production, property, sales and income tax revenues and an associated loss of discretionary spending.