October 24, 2016
ACG Research Associate and LSU Center for Energy Studies Assistant Professor Greg Upton has prepared a white paper titled, “Oil Prices and the Louisiana Budget Crisis: Culprit or Scapegoat?: An Analysis of the Implications of the Oil Price Drop on the Louisiana Budget.” In the paper, Upton examines how the oil and gas industry has contributed to both the state’s finances and economy from a historical perspective. He discusses the recent drop in oil prices and considers how it might impact the state’s budget. He also provides a broad view of Louisiana’s revenues and assesses likely cause of recent budgetary problems. He suggests that, in light of the events of the past decade, Louisiana has a unique opportunity to make changes to its tax code in a manner that is consistent with long-term goals and good tax policy.
View or download the white paper here.