Oil revenue may help Oklahoma

(Oklahoma City-AP) -- Oil producers say higher oil prices may help the Oklahoma economy rebound. <br><br>The vice president of the Oklahoma Independent Petroleum Association says state revenues could increase

Tuesday, December 31st 2002, 12:00 am

By: News On 6

(Oklahoma City-AP) -- Oil producers say higher oil prices may help the Oklahoma economy rebound.

The vice president of the Oklahoma Independent Petroleum Association says state revenues could increase by $150-million to $200-million over the next year from higher natural gas prices alone.

Officials say low supplies and higher oil prices spurred by political unrest in Venezuela and the Mideast have kept oil prices up.

State officials say it's premature to predict how much this will ease state budget problems.

But the state will need all the extra revenue it can get since lower tax collections will mean the Legislature will have almost $600-million less to appropriate in 2003 than it did this year.