Oklahoma – The State of Success

Vol1 iss4 2015

Issue link: http://siteselection.epubxp.com/i/620517

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Page 23 of 51

22 O K L A H O M A – T H E S T A T E O F S U C C E S S raditionally known as an oil and gas state, Oklahoma has switched gears and is capitalizing on its natural resources and building a much more diverse energy plan. "Oklahoma is an energy leader and an all-of-the-above energy state," says Michael Teague, Oklahoma Secretary of Energy & Environment. "We currently rank third in natural gas production, fourth in wind production, and sixth in oil production. The strength of our energy portfolio is in its diversity, and we will further diversify by exploring the potential of emerging energy technologies." Oklahoma is home to some of the world's most innovative and advanced oil and gas producers, many of which are at the forefront of pioneering new technologies to address both energy exploration opportunities and environmental challenges, says Teague. While solar resources are currently underused, state offcials plan to increase solar energy use by addressing regulatory and market barriers within the state. The state's diverse energy portfolio has impacted electricity rates, which are now the ffth cheapest in the nation. "Oklahoma currently offers two primary fnancial incentives for clean energy — a zero-emissions tax credit similar to the federal production tax credit and a property tax exemption for wind," says Teague. "These incentives have been very successful in spurring wind energy development across Oklahoma. As Oklahoma's plan to diversify resources will lead to more affordable, reliable and clean energy. T A Light Into The Future A Light Into The Future G Y C O S T S A G Y D I V E R S I T Y b y C R Y S T A L V I L L A R R E A L Photo by Br yan Roschet zk y/iStock

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