Roosevelt Institute | Cornell University

The Cost of Oklahoma Oil

By Ethan Skelskie Published March 23, 2016

In light of recent earthquakes, the Oklahoma state government has shifted towards acknowledging that the oil and natural gas industry is responsible for these calamities. These quakes have caused tremendous economic burdens to the Oklahoma homeowner. In order to prevent further incidents and prevent economic losses to business, a gradual approach towards regulation must be adopted, reevaluating legislation frequently to determine if it is working. Additionally, a corrective tax must be implemented on the oil and natural gas companies in the affective area, in order to relieve the burden on its citizens. All of this serves to protect the people of Oklahoma and ensure that business interests in the state can sustainably prosper.