OKLAHOMA CITY - Tulsa oilman George Kaiser wants his industry to pay more taxes.

The owner of Tulsa-based Kaiser-Francis Oil Co. is asking legislators to return the state’s gross production tax to 7 percent, challenging a plan proposed by fellow oil company executives who want to see the rate settle at 2 percent for the first four years of production.

The new cost for doing business in Tulsa.

For those who care about business and this community, we have a deal for you. Start a digital subscription for only $0.99. Sign up now at tulsaworld.com/subscribe.

“We are making an impassioned appeal to raise our own taxes,” Kaiser said.

Executives from Devon Energy Corp., Continental Resources Inc. and Chesapeake Energy Corp. told The Oklahoman last week that higher gross production tax rates would make many planned Oklahoma wells unable to compete with potential drilling locations in other areas.

Subscribe to Daily Headlines

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.