Oklahoma’s budget is dependent on the value of petroleum products and the amount of petroleum products produced. Gross production tax increases during the FY18 Legislative session raised the questions: what really drives the amount of gross production taxes Oklahoma receives, and should we expect a big jump in taxes? After visiting with several different experts, we went to the Energy Information Administration and took a simplistic look at the cause and effect in revenues collected for gross production taxes.
The first graph is the total revenue by month from gross production collections paid to schools in the fiscal years listed. The bottom graph is the spot price of crude oil at Cushing. These graphs show that collections follow a similar pattern. We can also see several historical peaks and valleys in the collections and prices, to be expected with any commodity. When the actual data comes out this month, we can expect to see a dip in taxes because there is a cyclical dip in prices.
What a whirlwind August was! Through conducting on-site trainings and regional professional days over the last month, the Teaching & Learning team was honored to teach and learn with nearly 2,000 educators across the state.
We all wish we had more opportunities for it. Whether you're facing time constraints or distance, OPSRC wants to help! Every year in August, we get many requests to travel to individual sites for professional development, and we want to continue meeting all your needs.
Don't underestimate yourself by comparing yourself with others.
The numbers don’t lie: 100 and 85 million! 100 is the age of author extraordinaire Beverly Cleary, whose birthday is today, and 85 million is how many copies of her books have sold.