How an Obama fundraiser turned Oklahoma into a personal tax haven

By Bill Allison

How George Kaiser turned Oklahoma into his personal tax haven

Excerpts from this story referencing "Kaiser-Francis Oil":

"… e from domestic energy production.When he took over his father's business, Kaiser-Francis Oil, in 1969, it had all of 10 employees. The 1970s energy shocks that resulte …"

"… of the tax attributes."Kaiser's company, GBK Corporation — the parent of Kaiser-Francis Oil — began claiming those losses on its tax returns.In 1997, the IRS disall …"

"… with the Internal Revenue Code."In 1991, the same year that Kaiser merged Kaiser-Francis Oil with Waterford, he bought the Bank of Oklahoma from the Federal Deposit In …"