Oil price fall - is that going to hurt the Louisiana State budget?

Man, just stop. This troll isn't witty or original.


And get LSU off your mind. They aren't worth it.

The oil industry is definitely the largest source of tax revenue for LA. It's really hurting the state. A lot of people are out of work and thus the tax base has shrunk and the severance tax on $30 oil is obviously much less than on $80 oil.

Not to mention all the money going to keep the Mississippi river from changing course.

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ce fall - is that going to hurt the Louisiana State budget?
The oil industry is definitely the largest source of tax revenue for LA. It's really hurting the state. A lot of people are out of work and thus the tax base has shrunk and the severance tax on $30 oil is obviously much less than on $80 oil.

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Has it stopped any of the multi-billion dollar refinery projects that the state was counting on?

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I'm sorry it's hurting the Louisiana economy but I love the drastic decline in oil prices. I filled up my car for $1.37/gallon yesterday and it felt terrific.

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yeah it's cool filling up for cheap but generally when gas prices plummet like they have it's a terrible sign for the country's economy. Louisiana won't be alone in this if things continue.

The oil price drop has more to do with BRIC economies, primarily China, growing at 25 year lows.

China is entering a slowdown. It will be interesting to see what that does for us.

Beyond closing one or two Louisiana campuses, this is going to crush Louisiana. Probably directly or indirectly the crash will lead to a loss of >150,000 Louisiana jobs which were relatively high paying. Lots of houses will be on the market, or foreclosed, lots of empty shops lining the highways between Houma and Lake Charles. And it isn't going to recover for a long time.. perhaps decade ... if it ever does.

This is bad not just for Louisiana but it has the potential to throw the entire US economy into a full fledged depression. In 2014 energy industry accounted for over 30 percent of S&P 500 companies direct capital expenditures across the US, and no telling how much in indirect investments. As of now at least $1 trillion worth of projects are being canceled in the US and that is just capital spending.. it doesn't take into account operational expenditures, salaries, benefits, individual insurance through company programs, etc. Over 500,000 people are now out of work across the country with little prospect because when an entire industry collapses, an oil-field hand cannot just walk down the street to another company.

When energy companies cut back, truckers, pipe manufacturers, mills, railroads, inspectors, mines, Walmart-Home Depot-random shop sales, etc. suffer.. and this is not just Louisiana, it is over 20 States across the country including Alabama, Texas, California, Pennsylvania, Ohio, etc.

Here is the law of unintended consequences at work.

- Let Iran have its nukes and remove sanctions;

- removal of Iranian sanctions floods already saturated oil market with another 1.5 million bopd;

- oil prices tank taking stock market with it;

- tanking stock market destroys trillions in value impoverishing middle class.

- greenies dance in the street as coal and oil industry in the US is collapsed and millions are thrown out of work;

- LSU cancels football depriving Ole Miss and Arkansas of their jollies for the year.

It is all connected don't ya' see?

My little metro added 4,800 new jobs in 2015 and is forecast to add another 5,000 in 2016. We good up here.

More poor people means more Walmart shoppers.

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The same can be said of the poor financial performance of Wal-Marks and the demise of Arkansas sports funding. Wal-marks is shutting down stores and their stock is falling.

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Actually, Walmart hit its bottom in 2015 when they announced their wage increases.

They shut down some small-format stores to refocus. They might be the only Dow 30 stock that is positive for 2016. They're doing well. Besides, Arkansas athletics isn't funded by Walmart. Apart from Bud Walton Arena 20+ years ago, most of the bigger donations haven't come from the Walton Family. They're too high-brow these days to give a damn about something as stupid as college sports.

Wal-Mart reported a 10% drop in sales this past quarter, if I remember correctly.

To the heirs of Wal-Mart, this equates to having lost roughly 11 billion dollars.
Then they announced they are closing 296 stores.

Truth of the matter is, they see the writing on the wall. People are getting tired of their shite. And I'm happy about that.

In the short term, Amazon outperformed them this past quarter and they are trying to streamline and go internet heavy.

Won't matter in the long run. People are finally wising up to the fact that Wal-Mart is a terrible, terrible business.