Dewey Bartlett Jr.: Need for strong, visionary leadership for today and tomorrow

In the OEPA tradition of leadership in our state our Chairman, Dewey Bartlett offers leadership and vision to our state; beyond the oil and gas industry.

There are several decisions the leaders of our city, county, state and federal governments must make now in order for us to judge their effectiveness as elected leaders. It is not a time to hear about their feelings and shed tears; we all know about difficulties. It is time for them to lead, not only for today, but for our future well-being. Our leaders need to show more than strength in the midst of what is right in front of us. We also need them to have vision beyond this crisis so that our future is secure and prosperous.

Every city in Oklahoma will soon experience a major hit to their only source of operating revenue — sales taxes. Our leaders can do several things. The state government can pass legislation allowing each city to vote to allow property taxation to pay for operational needs. Unless that happens, every municipality will be laying off public employees.

Read More.

Paycheck Protection Program

Under the CARES Act, the Small Business Administration is offering The Paycheck Protection Program. The program is offering small loans on favorable terms for payroll necessities. It is intended to: 1) help small businesses cover their near-term operating expenses during the worst of the crisis, and 2) provide a strong incentive for employers to retain their employees.
Click here for more information on the Paycheck Protection Program.

Investigating economic warfare actions by Saudi Arabia and Russia

Six U.S. Senators submitted a letter to The Honorable Mike Pompeo at the Secretary of State, asking him to begin investigating economic warfare actions by Saudi Arabia and Russia against the United States. This action is a critical step in restoring our nation’s oil prices to a stable level. The six senators were Sen. Kevin Cramer (R-ND), Sen. Lisa Murkowski (R-AK), Sen. Dan Sullivan (R-AK), Sen. James Inhofe (R-OK), Sen. John Hoeven (R-ND), Sen. Cindy Hyde-Smith (R-MS). You can view the entire letter here.

Summary of the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Substitute Amendment to H.R. 748)

After countless hours of negotiation between Congressional leaders and the White House, a final deal on the third coronavirus-related bill was reached and approved by the Senate just before midnight on March 25, 2020. The Senate approved the measure with a vote of 96-0; and the House is expected to pass the bill on Friday. The nearly $2 trillion stimulus measure – the Coronavirus Aid, Relief and Economic Security (CARES) Act has relief for both the private and public sector, as well as individual Americans. Below is a summary of the CARES Act1, beginning with emergency appropriations for the various federal agencies.

Emergency Appropriations for Coronavirus Health Response and Agency Operations

The grant and loan funds contained within the CARES Act universally may be used “to prevent, prepare for, and respond to coronavirus.”

To see an overview report of the entire bill, click here. OEPA will be reviewing the CARES act and will soon release information focused on small business provisions.

SBA Disaster Loan Program

This information is correct as of 3/23/2020

Anyone interested in applying for this program will apply directly with the SBA. This loan program is NOT being funneled through Banks like the typical SBA 7A or SBA 504 loan programs are.

Click here for the SBA Disaster Loan Program.

Click here to download the presentation from SBA representatives that explains the program and provides some guidance on how to apply. Click here for a quick 3-step overview of the process.

Below is a list of required documents that SBA will ask to be provided with your application for the Disaster Loan Program.

Required Documentation

The following documents are required to process an SBA Disaster Loan Application and reach a loan decision. Your SBA Loan Officer and Case Manager will assist you to ensure that you submit the proper documentation. Approval decision and disbursement of loan funds is dependent on receipt of your documentation.

Businesses

  1. Business Loan Application (SBA Form 5) completed and signed by business applicant.
  2. IRS Form 4506-T completed and signed by Applicant business, each principal owning 20% or more of the applicant business, each general partner or managing member and, for any owner who has more than a 50% ownership in an affiliate business. (Affiliates include business parent, subsidiaries, and/or businesses with common ownership or management).
  3. Complete copies, including all schedules, of the most recent Federal income tax returns for the applicant business; an explanation if not available.
  4. Personal Financial Statement (SBA Form 413) completed, signed and dated by the applicant (if a sole proprietorship), each principal owning 20% or more of the applicant business, each general partner or managing member.
  5. Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used).
  6. Complete copies, including all schedules, of the most recent Federal income tax returns for each principal owning 20% or more of the applicant business, each general partner or managing member, and each affiliate when any owner has more than a 50% ownership in the affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management.
  7. If the most recent Federal income tax return has not been filed, a year-end profit and loss statement and balance sheet for that tax year is acceptable.
  8. A current year-to-date profit and loss statement (typically within 90 days)
  9. Additional Filing Requirements (SBA Form 1368) providing monthly sales figures.

Investigation Anti-dumping from Saudi Arabia & Russia

Senator Inhofe has submitted a letter to the Department of Commerce, signed by nine other oil and gas state U.S. Senators asking them to begin investigating anti-dumping actions against Saudi Arabia and Russia. Senator Inhofe was joined by Sen. Roger Wicker (R-MS), Sen. Kevin Cramer (R-ND), Sen. Lisa Murkowski (R-AK), Sen. Mike Rounds (R-SD), Sen. John Barrasso (R-WY), Sen. James Lankford (R-OK), Sen. John Hoeven (R-ND), and Sen. Dan Sullivan (R-AK). View the letter here.

We’re proud that both Oklahoma Senators have signed this letter.

Energy Sector Considered Essential Critical Infrastructure

Click HERE to read the letter from the U.S. Department of Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) which has deemed U.S. oil and gas production as essential.

SBA Economic Injury Disaster Loans

The (SBA) U.S. Small Business Administration approved Governor Stitt’s request for low-interest federal disaster loans across all 77 counties of Oklahoma. These are offered to small businesses suffering economically as a result of COVID-19 and because of the Saudi Arabia – Russia issue. The loans are designated for working capital and can provide up to 2 million dollars for fixed debts, payroll, accounts payable and other bills that cannot be paid due to this disaster. To apply for these loans, please visit this website.

COVID-19 closures, low gas prices put sales tax revenues at risk in Oklahoma

“OEPA Chairman, Dewey Bartlett Jr. with Keener Oil said local governments in Green Country will be the first to feel the effects of gas losing value.”

The impact of shutting down bars and restaurants is being felt in Tulsa as the city loses opportunities to collect sales tax revenue.

Tulsa’s Director of Finance James Wagner said those businesses make up around 13 percent of the city’s sales tax collection.

Which is about $2 million a month.

A big hit with Oklahoma being one of the few states that relies on sales taxes for operations.

Read More.

Coronavirus and the Corporation Commission

Effective Monday, March 23, 2020, the Oklahoma Corporation Commission (OCC) offices statewide will be closed to the public until further notice. This includes the main office in the Jim Thorpe Building in Oklahoma City, the Regional Office in Tulsa and the District Field Offices around the State. A majority of OCC employees will be working […]