Originally published on Thu December 4, 2014 1:23 pm
Goldman Sachs estimates that Americans stand to save $75 billion from the recent drop in gasoline prices. That works out to about $1,100 a year per household.
Now, a gas station in Oklahoma City has apparently become the first in the nation to lower the price of gas below $2 a gallon since July 2010.
Yesterday, the OnCue station dropped its price from $2.11 to 1.99 for a gallon of regular gas. That prompted long lines of drivers waiting to fill up, and set off a price war with nearby competitors, who dropped their prices too.
The 2015 session is still months away, but the newly elected Oklahoma Legislature has already started talking about how to divvy up roughly $7 billion in state appropriations.
Some prominent lawmakers are promising to re-examine tax credits and economic incentives worth hundreds of millions of dollars. Some of those incentives are used for wind energy, which the industry says are working.
The Oklahoma Corporation Commission on Tuesday ended its four-month inquiry into wind energy development in Oklahoma. The examination could lead to new rules, though it’s not clear what they might be or which agency would enforce them.
The commission heard from vocal landowners for and against wind farms. Developers lauded the economic potential of Oklahoma’s wind, while conservationists and Indian tribes warned that, left unchecked, turbines would kill threatened bird species and ruin delicate grasslands.
The U.S. Environmental Protection Agency’s proposal for stricter ozone standards has been praised by environmentalists as a step in the right direction and derided by industry groups, which argue the rules will cost jobs and lead to higher prices for electricity and natural gas.