Liberal Donor to Group Pushing Okla. Tax Hike Avoided Millions in Taxes
Billionaire Kaiser was also largest backer of Solyndra
BY: Joe Schoffstall, FreeBeacon.com
A liberal billionaire who funds a group pushing for increased taxes on new oil and gas wells in Oklahoma has a history of avoiding taxes himself.
George Kaiser, a Tulsa billionaire who was one of the biggest investors in failed Obama stimulus project Solyndra, is the top donor to a left-wing think tank that is leading the current effort to raise the oil and gas production tax in Oklahoma.
Democrats in Oklahoma are targeting energy companies as a means to cover the $878 million budget shortfall. House Democrats in the state have proposed legislation to increase the oil and gas production tax on new wells to seven percent, more than double the current rate of three percent.
Environmentalists, including the Oklahoma Sierra Club, have gotten behind the call for the increased taxes. If implemented, the tax increase could cost energy companies $500 million.