I love the little pump-jacks in Oklahoma City parking lots and medians. Exactly why haven't we moved on this before?
TULSA, Okla. (AP) - Several industry experts are volunteering their time to help Tulsa examine whether it's worthwhile to allow oil drilling on city-owned property.
The idea for the plan is to determine whether enough revenue could be produced to defray budget concerns including $1.6 billion in needed street repairs.
Petroleum geologist Don Burdick says he has assembled a group of oil and gas experts who can help the city's Legal Department dig through documents on mineral rights and also scout out possible drilling locations.
Oklahoma City earns about $3.45 million annually in royalties from oil and gas operations on city-owned land, but the practice is prohibited in Tulsa by an ordinance created in 1906.
quote:
Originally posted by Gaspar
I love the little pump-jacks in Oklahoma City parking lots and medians. Exactly why haven't we moved on this before?
TULSA, Okla. (AP) - Several industry experts are volunteering their time to help Tulsa examine whether it's worthwhile to allow oil drilling on city-owned property.
The idea for the plan is to determine whether enough revenue could be produced to defray budget concerns including $1.6 billion in needed street repairs.
Petroleum geologist Don Burdick says he has assembled a group of oil and gas experts who can help the city's Legal Department dig through documents on mineral rights and also scout out possible drilling locations.
Oklahoma City earns about $3.45 million annually in royalties from oil and gas operations on city-owned land, but the practice is prohibited in Tulsa by an ordinance created in 1906.
If Tulsa could garner $3.45 million per year in O&G royalties, we'd just about break-even on the new debt service on the One Technology Center/New City Hall.
[:O]