Skip to Content

Soft energy markets mean more financial trouble for Wyoming

Wyoming fiscal analysts are warning that soft energy markets promise financial trouble for the state for years to come.

The state’s Consensus Revenue Estimating Group released its annual revenue forecast Monday. The group says unprecedented declines in coal production as well as low prices for other energy require the state to brace for continued falling revenues.

The report says Wyoming coal production dropped more than 30 percent in the first half of 2016 compared to the same period the year before.

The report projects revenues will fall more than $150 million short of covering the two-year, $3-billion general fund budget that started in July even after the $250 million in cuts that Gov. Matt Mead made this summer.

Mead is set to discuss the report Monday morning in Cheyenne.

Article Topic Follows: News
Author Profile Photo

News Team

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content