Oklahoma § 52-272 - Production and sale regulated - Corporation Commission,

§ 52-272. Production and sale regulated - Corporation Commission,

authority of.

The taking of crude oil or petroleum from any oil-bearing sand

or sands in the State of Oklahoma at a time when there is not a

market demand therefor at the well at a price equivalent to the

actual value of such crude oil or petroleum is hereby prohibited,

and the actual value of such crude oil or petroleum at any time

shall be the average value as near as may be ascertained in the

United States at retail of the by-products of such crude oil or

petroleum when refined less the cost and a reasonable profit in the

business of transporting, refining and marketing the same, and the

Corporation Commission of this state is hereby invested with the

authority and power to investigate and determine from time to time

the actual value of such crude oil or petroleum by the standard

herein provided, and when so determined said Commission shall

promulgate its findings by its orders duly made and recorded, and

publish the same in some newspaper of general circulation in the

state.

Added by Laws 1915, c. 25, § 2, emerg. eff. Feb. 11, 1915.