Oklahoma stands to gain a massive economic boon from new Environmental Protection Agency rules proposed by President Barack Obama.
A new study released yesterday found that Oklahoma and Texas would be among the biggest economic winners under regulations proposed by Obama to fight climate change.
The study was conducted by the Center for Strategic and International Studies and by the Rhodium Group. It focused on how new regulations designed to cut demand for electricity from coal - the nation’s largest source of carbon pollution - would affect demand for natural gas, which has half the carbon footprint of coal. The study found that a new demand for natural gas would drive massive job creation, new profits for the corporations that control the gas and huge tax revenue increases in the two states, plus Arkansas and Louisiana.
The rule would hurt Wyoming - the nation’s largest coal producer - but the increase in revenue to Texas and Oklahoma would be immense. Arkansas, Louisiana, Oklahoma and Texas together would experience an annual net economic benefit of up to about $16 billion, according to the study.