Energy driving Oklahoma’s economic recovery

8 Sep 2017   USA

The state energy sector is the primary driver of the economic recovery underway in shale-rich Oklahoma, the head of the state treasurer said. Oklahoma is home to about 4 percent of the total petroleum reserves in the country and accounts for as much as 5 percent of the total crude oil production. Its economy was battered after crude oil prices hit historic lows in recent years and curbed spending in exploration and production. The state Treasury Department said gross tax receipts for the past 12 months were higher year-over-year for the first time since August 2015, showing recovery was clearly entrenched. “Oklahoma’s economic recovery, slow and steady, continued through August,” State Treasurer Ken Miller said in a statement . “The energy sector remains the primary […]

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