Oklahoma § 52-201 - Compacts with other states authorized - Objectives - Fact

§ 52-201. Compacts with other states authorized - Objectives - Fact

finding agency - Uniform conservation and tax laws.

The Governor, or such representative as he may appoint, is

authorized to meet with representatives of the Governors of other

petroleum-producing states, and of the United States, for the

purpose of agreeing upon a compact among such states effecting the

following objectives:

(a). Establishment of a joint state and federal fact-finding

agency to consist of one representative appointed by the Governor of

each compacting state, and one representative of the United States

as Congress or the President shall direct. Said agency shall make

periodic findings, subject to the approval and modification by the

President, of the demand for petroleum to be produced within the

United States, for withdrawals from storage, and for petroleum and

products thereof to be imported. It shall thereupon, subject to

concurrence of representatives of compacting states capable of

together producing two-thirds (2/3) of the demand for domestic

production so found, and approval and modification by the President,

determine the part thereof allowable as production within each

petroleum-producing state.

(b). Voluntary regulation of production by each compacting

state within its own borders in accordance with said determination

of the joint fact-finding agency, to the extent that and in such

manner as the laws of each state may authorize.

(c). Formulation by the joint agency of uniform conservation

measures and tax laws which it shall recommend to the compacting

states, and exercise by said agency of such incidental powers as may

be agreed upon.

Added by Laws 1935, p. 240, § 1, emerg. eff. Jan. 30, 1935.