Oklahoma Energy Education Foundation

PROJECT PURPOSE

The Oklahoma Energy Education Foundation (OEEF) proposes establishing a grant program to be administered by the Oklahoma Department of Commerce in consultation with the Oklahoma Department of Environmental Quality (ODEQ) and The Petroleum Alliance of Oklahoma to address economic losses during the COVID-19 pandemic and reduce Oklahoma greenhouse gas emissions to better position the state to compete for capital investment against oil and gas peer states. Qualifying projects should include: deployment of oil field equipment, technology and processes to reduce emissions in upstream and midstream oil & natural gas production, completion, gathering, storage, processing, and transmission activities through monitoring, measuring, replacing, repowering, or retrofitting of stationary compression engines; installation of systems to reduce or eliminate the loss of gas, flaring or burning of gas; installation of systems that reduce flaring emissions or other site emissions. Priority should be given to projects that involve the production, transport, use, recovery of use or prevention of the loss of natural resources originating or produced in this state; contain an energy efficiency component; recover waste heat from the combustion of natural resources and use the heat to generate electricity or reduce flaring or other site emissions.

EVIDENCE

Oklahoma is the fourth largest oil and natural gas producing state in the nation. Federal government policymakers, shareholders, stakeholders and consumers are requiring additional, costly emissions controls on oil and natural gas producers, transporters and storage facilities. As the oil and natural gas industry is the largest private sector contributor to Oklahoma GDP it is critical that Oklahoma support industry investment in post-pandemic emissions controls or suffer potential economic, tax, and jobs losses.

POPULATION DESCRIPTION

Unemployment among vulnerable populations within the state peaked as a result of the pandemic with disproportionate impact among those working in, or seeking work in, the oil and natural gas industry. Negative impacts among the oil and gas industry were felt statewide as it is Oklahoma's largest private sector contributor to state GDP.

PERFORMANCE MEASURING

The Oklahoma Department of Commerce will work in concert with The Oklahoma Department of Environmental Quality and The Petroleum Alliance of Oklahoma to establish parameters for project applicability, performance measurement and collection of required programmatic data.

ONGOING INVESTMENT AMOUNT

$

ONGOING INVESTMENT DESCRIPTION

None

ONGOING INVESTMENT REQUIRED

Able to continue operation without additional funding from the State of Oklahoma