Effort is paying dividends
s the state grapples with its funding crisis, lost in the debate is the idea that state spending done properly represents an investment that will pay dividends in one form or another. To tackle the difficult task of determining the appropriate funding approach for a given state service, there first must be agreement on what the desired outcome should be.
An example of this is the funding provided to the Oklahoma Corporation Commission and the Oklahoma Geological Survey by Gov. Fallin to address the problem of induced earthquakes in Oklahoma.
The funding provided essential resources in terms of staff and equipment. These resources resulted in the development of action plans researchers agree have made a significant dent in the state’s earthquake rate — approximately a 70 percent drop in 2.7-magnitude or greater earthquakes since 2015.
Moreover, the speed at which these plans can be developed has changed. It took more than two months to plan the first large-scale area action plan in 2015. In September 2016, it took only three hours to design and initiate a similar plan following the magnitude-5.8 Pawnee earthquake. Further, the resources now available have made it possible to develop various plans that can, should the need arise, be put into action in a moment’s notice.
But there is more to the list of benefits than a drop in the number of earthquakes. There has been continued expansion of communication and cooperation among all those involved in this effort, including the research community and oil and gas industry, that would have been thought impossible only a few years ago. This will continue to pay dividends in the years ahead.
This remains a top critical issue for all concerned. As recent earthquakes indicate, we are not out of the woods. More remains to be done to ensure we can continue to develop oil and gas resources in a safe and responsible way. As with so many of the problems that Oklahoma must solve, overuse of one-time funding is not going to get us to the goal.
No one invests money without an expectation of a return, and the state should be no different. If the state is to invest wisely in essential state services, there must first be agreement on the expected return. Until there’s agreement on a goal, arguing about how to reach the goal is, at best, counterproductive.