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    Entries in oil revenue (1)

    Friday
    Oct262018

    The Week in Public Finance: Will Oklahoma Finally Wean Its Budget Off Oil?

    A ballot measure would do just that by adopting a financial practice already common in most other oil-dependent states.
    BY  OCTOBER 26, 2018
    Oil pumps in rural Oklahoma (Shutterstock)

    For a full summary of November's most important ballot measures, click here.

    Oil prices fell to a two-month low this week. Any time they tumble, oil-dependent states like Oklahoma are on edge. More than most states with economies heavily reliant on oil and natural gas, its budget is extremely vulnerable to the ebb and flow of the oil economy.

    The reason Oklahoma is so susceptible to the oil market is because it's one of only two oil states in the country -- the other is Louisiana -- that doesn’t protect its budget by reinvesting at least a portion of its oil revenue.

    Come Election Day, however, that could change if residents approve Question 800.

    Click to read more ...