Newspaper article THE JOURNAL RECORD

Okla. Energy Index Up, but May Be Leveling Off: Monthly Numbers Barely Ahead of 2006

Newspaper article THE JOURNAL RECORD

Okla. Energy Index Up, but May Be Leveling Off: Monthly Numbers Barely Ahead of 2006

Article excerpt

The Oklahoma Energy Index numbers remain high but the industry appears to be slowing down a bit, according to the latest monthly report released by the Oklahoma Independent Petroleum Association (OIPA) and the office of state Secretary of Energy David Fleischaker.

The latest index, compiled in March, showed the index up only one- tenth of a point. The energy industry level is at a record 220 points, up 8.8 percent from March 2006.

The industry has shown solid growth over a four-year period and it is leveling off, according to Karr Ingham, an economist who compiles the index.

He said March is the first time the year-over-year increase has been less than 10 percent.

"That particular measure of growth is expected to continue to narrow throughout 2007," Ingham said.

Oklahoma oil prices were down about 8 percent and natural gas prices decreased 12 percent from a year ago. In March the year-to- date oil price of $55.59 per barrel was down 8.2 percent from $60. …

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