A. There is hereby created the Oklahoma Energy Initiative, referred to in this act as the Initiative, which shall serve as a strategic program designed to create, advance, and promote new and existing energy research and development efforts related to Oklahoma's core energy competencies by:
1. Promoting research and development in the areas of conventional and unconventional oil and natural gas development and production, CO2 enhanced oil recovery, wind forecasting, advanced biofuels, energy storage, water management, energy policy and economic analysis, energy system optimization, renewable energy integration into the electrical grid, and similar energy technologies;
2. Fostering communication and collaboration between state and federal governmental agencies, institutions of higher education, nonprofit research institutions, and private entities located throughout Oklahoma;
3. Advancing research and development programs that provide benefits to all industries and regions of the state;
4. Streamlining research and development efforts between private and public industry to create synergistic relationships that coordinate, not duplicate, research efforts;
5. Establishing Oklahoma as a regional resource and clearinghouse for transformative energy technologies in the areas of traditional energy and renewable resource research and development;
6. Attracting best-in-class researchers to Oklahoma in competency areas aligned with Oklahoma's natural resource base;
7. Coordinating with the Oklahoma Department of Commerce to enhance venture capital investment in energy-related research and business opportunities; and
8. Promoting seed funding that can be leveraged against state, federal, and private-source funding to establish sufficient startup resources.
B. The Initiative may receive assistance from any state agency or public entity to implement the provisions of the Oklahoma Energy Initiative Act, including, but not limited to, administrative assistance, staffing or legal counsel and provision of office space or equipment as necessary. Assistance agreements may be made by memorandums of understanding or as otherwise provided by law.
Added by Laws 2012, c. 247, § 2, emerg. eff. May 14, 2012.