• Home
  • About Us
    • Audio Edition
    • Previous Issues
    • Submissions
    • Contact Us
  • Subscribe
  • Advertise
    • Audience
    • Editorial Calendar
    • Sizes & Specs
  • Jobs
    • View Open Positions
    • List Your Job

Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

  • News
  • PBPA
    • Legislative Matters
  • Business & Analysis
  • Service Articles
    • Automation, Controls and Measurement
    • Environmental, Safety and Training
    • Fracking, Frac Sand and Water
    • Infrastructure
    • Pipe and Pipe Service
    • Technology
    • Wireline and Testing
  • Legal Articles
  • Drilling Deeper
  • Permit Map

Officials consider consequences of drop in oil prices for state budget

March 27, 2020 by PBOG

Although it’s too soon to know how current global and national events will affect the state budget, the budget-writing process will begin soon as lawmakers prepare to convene in Austin in January 2021 for the next session of the legislature. Texas’ last budget adopted in spring 2019 was balanced with $2.9 billion to spare, comptroller Glenn Hegar said, and the state has about $8 billion in its “rainy day fund” – although lawmakers set a $7.5 billion minimum fund balance last year “in a sign of their bullishness on the economy.”
But Eva De Luna Castro of the Center for Public Policy Priorities told Texas Tribune that Texas has “to kick off the budget process before anyone really knows what’s happening.” Revenue forecasters must give state agencies budgetary guidance in June. “If things don’t rapidly improve,” she said, “the agencies may be told to start cutting their current budgets just to make room.” Dale Craymer, president of the Texas Taxpayer and Research Association, said, “The consequences for Texas of the drop in oil prices will depend on two questions: how low and how long.”

Filed Under: PBOG Newsletter

Subscribe to PBOG

Subscribe: Newsletter | Magazine

May 2025

May 2025

Read the most recent issue of PBOG on your computer, iPad, Kindle, phone or other electronic reader.

If you'd like to view our previous issues, click here.

PBOG Audio

Connect with us online.

Facebook spacer Twitter spacer LinkedIn
Privacy Policy

Cookie Policy

Permian Basin Oil and Gas Magazine

3457 Curry Lane
Abilene, TX 79606
325.673.4822
pbog@zacpubs.com

Search PBOG.com

© 2025 · Zachry Publications