Depriving

An Oklahoma tax break for horizontal wells enacted in 2010 is depriving the Sooner State of revenue that could beef up its rainy day fund and should be reconsidered, the state’s secretary of finance and revenue said.

Depriving U.S. energy companies of certain tax deductions — as is being considered by the Obama administration — “would have a negative impact on federal revenues,” according to research by economist Joseph R. Mason, Louisiana State University endowed chair of banking.