Comments on: Oklahoma Losing Out on $150 Million in Tax Revenue http://kosu.org/2011/09/oklahoma-losing-out-on-150-million-in-tax-revenue/ The State's Public Radio Tue, 21 May 2013 16:36:09 +0000 hourly 1 http://wordpress.org/?v=3.4.1 By: OKfrog http://kosu.org/2011/09/oklahoma-losing-out-on-150-million-in-tax-revenue/comment-page-1/#comment-122025 OKfrog Fri, 02 Dec 2011 10:24:53 +0000 http://kosu.org/?p=101820#comment-122025 You are incorrect. Oklahoma is 34th of 50 in education funding in 2010. That's nothing to brag about, but it's not dead last either. Oil's demand curve is almost perfectly inelastic, just like health care. Oil prices have gone up over 200% in the last 10 years, yet we are continually using and buying more and more oil. So, Oklahoma could get higher prices for their crude than what they are currently getting. Also Brent crude is a high grade crude but not as high grade as West Texas Intermediate crude. West Texas Intermediate is primarily used in the US, while Brent is used overseas in Europe. Given that WTI sells a superior product, it's reasonable to believe that WTI could charge the same or more than Brent per barrel. Maybe you should have been educated in Oklahoma like me and you'd understand these simple economic principles. You are incorrect. Oklahoma is 34th of 50 in education funding in 2010. That's nothing to brag about, but it's not dead last either.

Oil's demand curve is almost perfectly inelastic, just like health care. Oil prices have gone up over 200% in the last 10 years, yet we are continually using and buying more and more oil. So, Oklahoma could get higher prices for their crude than what they are currently getting. Also Brent crude is a high grade crude but not as high grade as West Texas Intermediate crude. West Texas Intermediate is primarily used in the US, while Brent is used overseas in Europe. Given that WTI sells a superior product, it's reasonable to believe that WTI could charge the same or more than Brent per barrel.

Maybe you should have been educated in Oklahoma like me and you'd understand these simple economic principles.

]]> By: Miles http://kosu.org/2011/09/oklahoma-losing-out-on-150-million-in-tax-revenue/comment-page-1/#comment-121949 Miles Sun, 02 Oct 2011 21:12:27 +0000 http://kosu.org/?p=101820#comment-121949 Well if they really can get this money, they should, and stop pushing other BS taxes on us. Okies need to stop the state from constantly finding new ways to take our money. Now the state Corporation commission is planning to increase a tax on us all by 47 mil dollars! Unacceptable! This could happen as early as Tuesday, and I feel like no one really knows about it. We need to stop this...if collecting money from oil revenues does the trick, then just do that! Well if they really can get this money, they should, and stop pushing other BS taxes on us. Okies need to stop the state from constantly finding new ways to take our money. Now the state Corporation commission is planning to increase a tax on us all by 47 mil dollars! Unacceptable! This could happen as early as Tuesday, and I feel like no one really knows about it. We need to stop this…if collecting money from oil revenues does the trick, then just do that!

]]> By: BigOilBilly http://kosu.org/2011/09/oklahoma-losing-out-on-150-million-in-tax-revenue/comment-page-1/#comment-121945 BigOilBilly Tue, 27 Sep 2011 19:06:51 +0000 http://kosu.org/?p=101820#comment-121945 This is one of the most retarded stories I have seen in a long time. Do these people not have any economic common sense or education at all?? If you think you can get the Brent crude price for your Oklahoma oil then try to find a buyer at this price. Why don't you ship it overseas and get the Brent price? And I don't believe that for one minute that this "extra money" if the state did receive it would go to education. That's a joke in OK where education comes last in funding. This story is so silly I have a hard time typing this response. This is one of the most retarded stories I have seen in a long time. Do these people not have any economic common sense or education at all?? If you think you can get the Brent crude price for your Oklahoma oil then try to find a buyer at this price. Why don't you ship it overseas and get the Brent price? And I don't believe that for one minute that this "extra money" if the state did receive it would go to education. That's a joke in OK where education comes last in funding. This story is so silly I have a hard time typing this response.

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