Narrative, we have a problem. What is billed day after day as 'unequivocally good' is entirely not good for Alaska (oh and Texas and Pennsylvania and...) as with oil prices dropping, AP reports Alaska Gov. Bill Walker has halted new spending on six high-profile projects, pending further review. With oil taxes and royalties expected to represent nearly 90% of Alaska's unrestricted general fund revenue this year, officials warned,"the state's fiscal situation demands a critical look."
As AP reports,
Alaska Gov. Bill Walker issued an order Friday putting the new spending on hold. He cited the state's $3.5 billion budget deficit, which has increased as oil prices have dropped sharply.
With oil prices now around a five-year low, officials in Alaska and about a half-dozen other states already have begun paring back projections for a continued gusher of revenues. Spending cuts have started in some places, and more could be necessary if oil prices stay at lower levels.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
3 comments:
Guess they should have SAVED some if the tax payers $$$ that they hsve been ripping off for year's.
I just got back from Ohio, and the gas prices are great! I got gas for $1.72 a gallon, I for one love it!!
Wait wait, I thought it was all about "drill baby drill". Guess that backfired. Maybe they should cancel those socialist redistribution checks the state sent out paid for by oil company money that Palin was so proud of.
Post a Comment