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Energy Industry Continues to Drive Okla.'s Economy (Sep 06, 2011)

OKLAHOMA CITY (AP) - While the U.S. economy continues to struggle, Oklahoma's treasurer says the state's economy continues to show signs of improvement, fueled mostly by the oil and gas industry.

State Treasurer Ken Miller released figures on Tuesday that show gross revenue collections in August jumped more than 15 percent compared to August last year.

Miller says gross collections over the past 12 months total $10.37 billion, the highest level since July 2009.

Taxes on oil and gas production generated more than $100 million in August, an increase of more than 41 percent over August 2010, but Miller cautioned those collections reflect higher prices of crude oil, which has since dropped.

Miller's figures also include collections beyond those to the state state's general revenue fund, which is used to fund state government.



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