High oil prices good news for the state of Oklahoma

Wednesday, September 29th 2004, 6:46 am
By: News On 6

Higher oil prices could mean a financial windfall for our state.

Prices climbed to more than $50 a barrel Tuesday, before leveling off on the Mercantile Exchange. Those higher prices mean we'll all pay more at the pump.

The state says gross-production tax dollars will come in, but it will take at least two months. Oklahoma took in more than $116-million from the tax in fiscal year 2004.

The state expects to make even more than that this year.