Lt. Gov. Todd Lamb: Oklahoma needs to diversify economy
ENID, Okla. — Oklahoma’s Lt. Gov. Todd Lamb said the state needs to focus on diversifying its economy.
Lamb spoke to the Enid Rotary Club on Monday about how the state needs to have a 20-year vision for its economy since commodity prices in the state will continue to fluctuate, according to the Enid News & Eagle.
Lamb said the Legislature had a budget hole of $1.3 billion last year, and that a $700 million hole had been forecast for the upcoming session.
“Over 20 percent of our state budget comes from the oil and gas industry and the hydrocarbon industry,” Lamb said. “We will never divorce ourselves nor should we.”