Natural Gas Prices A Concern For Okla. Leaders
KSCB News - April 30, 2012 10:27 am
Plunging natural gas prices are prompting
some concern from state leaders as lawmakers continue discussions
on cutting the state’s income tax and developing a budget for the
upcoming fiscal year that begins July 1st.
State lawmakers are projected to have an estimated $6.6 billion
to spend on the fiscal year 2013 budget, but that estimate was
calculated with a projected price of natural gas of $3.64 per 1,000
cubic feet. The price of natural gas closed Friday at $2.19 per
1,000 cubic feet.
House Republican budget chairman Representative Earl Sears says
those negotiating a planned cut in the state’s income tax are
"very concerned about the drop in the price of natural gas."
But the governor’s finance secretary says high oil prices will
more than offset lower natural gas prices.