One of the many problems with our current oil tax system is the Legislature's failure to protect the state in low-price scenarios. Our elected oil-shill amateurs didn't bother to look at what might transpire at prices below sixty bucks a barrel. 

The House version of HB247 fixes the HB21 failure and protects the state in the new low-price world. It's the smart and responsible thing to do.

The Senate version is based on if we clap our hands with Tinkerbell oil prices will go up again soon and oil companies will be nice to us. It's factless, faith-based, and foolish. The kind of thing that gets put together by legislators at expensive dinners paid for by oil company lobbyists.