Coronavirus oil crash: What it means for one state
Friday, March 20, 2020
Wyoming lawmakers built a balanced budget around oil dollars last week.
Then the price of crude fell.
The crash, which is ongoing, is linked to the turf war between Russia and Saudi Arabia and the global response to the novel coronavirus.
An economic freeze caused by the pandemic could do lasting damage to states like Wyoming, which are dependent on energy revenues to fund everything from education to health care.
The state is particularly vulnerable now.
Wyoming's coal industry — the largest in the country — is fractured. The state's gas production is hitting historic lows.