Archive for Thursday, May 27, 2010

Letter: Appreciating home-grown oil

May 27, 2010

Appreciating home-grown oil

To the editor:

In light of the recent offshore oil spill now is a good time to fully appreciate the value of Kansas’ independent oil and gas producers. Kansas oil and gas producers have an excellent record of safety and contribute billions of dollars to the Kansas economy each year.

During the 2008 calendar year Kansas oil and gas producers paid $442 million in severance and property taxes (not including sales and income taxes). This was a 44 percent increase from 2007 and overall a 303 percent increase over a decade.

This is a testament to the hard work of these small-business operators. Property and severance taxes alone constitute about 11 percent of the value of the product at the well head.

With the situation happening in the gulf it is time that we all show our deep appreciation to Kansas’ independent oil and gas producers who have a continuing record of improvement in environmentally safe production practices. The Kansas Independent Oil and Gas Association currently has over 1,400 members generating thousands of highly skilled jobs in communities across Kansas.

Ad Astra Per Aspera,

Dennis McKinney

Treasurer of the State of Kansas


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