Meetings focusing on taxing gasoline, tobacco, oil and natural g - KSWO 7News | Breaking News, Weather and Sports

Meetings focusing on taxing gasoline, tobacco, oil and natural gas production postponed

OKLAHOMA CITY, OK (KSWO)- A series of meetings in the Oklahoma capitol that were focused on increasing taxes on gasoline and diesel have been postponed.

It's not clear why they have been re-scheduled. The meetings were set to focus not only on taxing gasoline, but tobacco and increasing the Gross Production Tax on oil and natural gas production.

Smaller producers are asking the legislature to do away with a rule that dropped that tax from 7 to 2 percent on new wells. Lawmakers, meanwhile, say they regret making that decision.

"We gave the deck away. We had all the cards. We had the hand to deal. And we gave it away and let big oil dictate to us exactly what the legislation was going to be,” said Republican Senator Frank Simpson.

Large oil producers in the state disagree, saying they are not responsible for Oklahoma's current budget crisis.

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