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Tag Archives: oil tax revenue

Oklahoma officials order $235M cut to state agencies

Oklahoma State Capitol. (Image: Ben Dunham via Flickr)

OKLAHOMA CITY (AP) — Oklahoma finance officials on Thursday announced another $235 million in cuts amid the sharp drop in oil and natural gas prices, saying schools, prisons and other state agencies will see their budgets slashed by 7 percent for the rest of the year. Public schools alone will have nearly $110 million cut from their budgets for the ...

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Fund suspended for communities affected by oil development

Due to the oil price and drilling decline, North Dakota communities impacted by oil and gas development will not be receiving financial assistance from the state. (Image: A.G. McQuillan via Flickr)

BISMARCK, N.D. (AP) — A program aimed at helping North Dakota communities deal with the effects of energy development has been suspended due to slumping oil activity. North Dakota’s Board of University and School Lands also voted Thursday to put on hold millions of dollars of projects that have receive grants but work hasn’t started. Trust Lands Commissioner Lance Gaebe (GAY’-bee) says ...

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Low oil prices prompt Alaska hiring restrictions

Low oil prices prompt Alaska hiring restrictions

JUNEAU, Alaska — Gov. Bill Walker announced hiring and travel restrictions Tuesday, the same day an agency lowered Alaska’s credit rating because of continued low oil prices. The hiring and travel restrictions for executive branch departments come two weeks before the start of the legislative session, when lawmakers are expected to consider ways to address the estimated $3.5 billion deficit. ...

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Tribes, North Dakota fail to reach deal on oil tax agreement

BISMARCK, N.D. — Tribal officials on North Dakota’s oil-rich Fort Berthold Reservation said Thursday they won’t sign off on a revenue sharing agreement with the state because of a new law that shaves the overall oil tax rate following the fall in crude prices. The Legislature in April passed the measure, which also abolishes some price-based incentives. Three Affiliated Tribes ...

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