Author's posts
Representative Says Tax Hikes Only Cover Up Waste of Taxpayer’s Money
While the legislature’s busy wrangling with proposed increases in the gross production tax on oil and gas, Guthrie Rep. Jason Murphey says he opposes most tax hikes because they only provide cover for the waste of taxpayer dollars. It’s what he claimed in his column written for the McCarville Report. “Specifically, I have repeatedly expressed …
Halliburton Decides to Auction Off One of Its Houston Campuses
Another sign of what the oil and gas downturn is doing in Texas. Halliburton, the firm that got its start in Oklahoma before relocating headquarters to Houston confirmed it plans to sell one of its campuses. The company will put up for sale the 49-acre Oak Park campus in Houston’s Westchase submarket. The auction will …
Baker Hughes to Shut Down a Lufkin, Texas Operation—-Blames Oil and Gas Downturn
Baker Hughes is blaming the downturn in the oil and gas industry for its move to stop production at one of its operations in Lufkin, Texas. Employees at the Buck Creek Rod Lift Systems site some 120 miles north of Houston were informed last month of the move. The shutdown means about 78 out of …
Supreme Court Upholds Petition Drive to Increase Taxes on Oil and Gas in Oklahoma
The Oklahoma Supreme Court is allowing a petition drive to have a vote of the people on raising the gross production tax to move forward and the Oklahoma Oil and Gas Association and the Oklahoma Independent Petroleum Association are not happy about it. “It’s easy to look at the oil and natural gas industry for …
SandRidge Rejects Midstates Petroleum Offer to Merge
Oklahoma City-based SandRidge Energy has rejected the offer by Tulsa’s Midstates Petroleum to merge. In an announcement this week, the oil and gas producer said “the relative asset values of the two companies do not support a combination effected at current stock prices.” Midstates had proposed a stock merger at a 60%/40% exchange ratio. But …
Rep. Cole Supports Tariffs….but Urges Caution in Dealing With U.S. Friends and Allies
Count Oklahoma Congressman Tom Cole among those supporting President Trump’s plan to increase tariffs on foreign imports of steel and aluminum. Writing in a recent column, the Republican Representative said having open markets is not an invitation for others in the world to take advantage of the U.S. “When bad actors exist, we have every …
Hearings Begin in Kansas on Utility Merger
Tough questions were aimed at officials of Great Plains energy and Westar Energy officials during Monday’s opening day of a merger hearing before the Kansas Corporation Commission. Mainly, they focused on how such a proposed merger will affect the rates of consumers. Westar CEO Mark Ruelle and Great Plains CEO Terry Bassham faced the line …
How Energy Companies Use Tax Laws to Avoid State Corporate Taxes
A review shows a sharp decline in Oklahoma corporate income tax collections in the past four years is due in part to income tax deductions by oil and gas companies that won’t pay corporate taxes for years to come due in part to state laws. It would appear wind farms aren’t the only ones using …
Inhofe and Lankford Among Senators Opposed to a Russian Pipeline to Germany
Oklahoma U.S. Senators Jim Inhofe and James Lankford were among 39 senators who signed a bipartisan letter last week opposing the Nord Stream II pipeline that will carry natural gas from Russia to Germany. In the letter sent to Treasury Secretary Steven Mnuchin and Deputy Secretary of State John J. Sullivan, the senators urged them …
Consumers’ Group Takes 30-year old Rate Case to US Supreme Court
The members who make up the group Oklahomans Against Bribery have formally gone to the U.S. Supreme Court in their fight to return billions of dollars in a nearly 30-year old bribed Corporation Commission case involving AT and T. The group challenged rulings from the Corporation Commission and the Oklahoma Supreme Court in which a …