Bitter Cold Temps Could Help State Budget

By Colleen Chen, NEWS 9

OKLAHOMA CITY -- State leaders said they hope this week's cold snap will bring a little warmth to the frozen state budget.

State Treasurer Scott Meacham said he has mixed feelings about the cold. Like most people, he is not a big fan of dealing with the bitter temperatures. However, cold is exactly what he's been hoping to get for the sake of the state budget.

The country's cold snap is doing encouraging things for Oklahoma's natural gas industry. Natural gas prices have been low this fiscal year due to a surplus of stored natural gas, but now the winter cold has caused consumption to soar across the nation.

"We predicted natural gas prices to be about $3.50 per 1,000 cubic feet, but prices now are at about $6. If this continues, we could end up with more revenue in that department than we thought. Every little bit helps," Meacham said.

Oklahoma Natural Gas officials said their customers are using record breaking amounts, and that's causing some to have a hard time paying bigger bills.

So while Meacham is hopeful for more natural gas revenue, he said he wishes the cold temperatures would move out of the state.

"It would be great if the cold left Oklahoma but stayed in areas like Chicago," Meacham said.

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