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The American Energy Institute is pleased to announce the release of its latest research, titled “Fact versus Fiction: Examining Oklahoma’s Energy Discrimination Elimination Act of 2022.” This comprehensive analysis critically evaluates the recent paper published by the Oklahoma Rural Association (ORA) on Oklahoma’s HB 2304, also known as the Energy Discrimination Elimination Act (EDEA) of 2022.

The ORA’s report suggests that the EDEA will have adverse economic impacts on Oklahomans, citing an increase in municipal borrowing costs. However, our research identifies significant flaws in the ORA’s analysis, highlighting the need to protect and preserve fiduciary principles in public investing. A comparative study of Oklahoma municipal bonds with a national index reveals that interest rates in Oklahoma have remained stable since the EDEA’s implementation, contradicting the ORA’s claims.

“As we release this comprehensive analysis, it’s clear that the Energy Discrimination Elimination Act of 2022 is crucial for safeguarding Oklahoma’s economic interests and ensuring sound fiduciary practices,” said Jason Isaac, CEO of the American Energy Institute. “Our research debunks the flawed claims against the EDEA, highlighting its role in protecting vital energy sectors and promoting financial stability for the state.”

Our findings underscore that the EDEA is designed to ensure sound financial decision-making based on fiduciary duties rather than political agendas influenced by Environmental, Social, and Governance (ESG) biases. The ORA report fails to account for broader macroeconomic trends, such as rising interest rates driven by the Federal Reserve, which present more plausible explanations for increased borrowing costs.

The EDEA safeguards Oklahoma’s economic interests by prohibiting state and local governments from engaging with financial institutions that discriminate against the energy sector. This legislation protects vital oil and gas industries, ensuring continued investment in essential energy resources and aligning with similar measures in states like Texas and Florida.

Our research highlights the broader economic implications of ESG-driven policies, which often lead to inefficient capital allocation and lower investment returns. By emphasizing fiduciary duty and financial performance, the EDEA promotes a balanced approach that optimizes taxpayer funds and benefits the state’s economy, environment, and well-being.

We invite policymakers, stakeholders, and the public to review this detailed analysis, which reinforces the importance of prioritizing financial returns and fiduciary responsibilities over subjective ESG criteria. This approach will better safeguard Oklahoma’s economic interests and promote sustainable growth, benefiting the broader community and the environment.

For more information and to access the full report, please visit the American Energy Institute’s website.