Lower severance taxes are severely squeezing budgets in oil producing states, some to “revenue failure”
Severance taxes on oil and gas extraction make up a significant portion of the budgets of a number of states in the U.S., but the rapid decline of prices since November of 2014, has put several of those states in a bind as they prepare to re-evaluate current and upcoming operating budgets and taxation structures.

According to the Energy Information Administration (EIA), Alaska, Texas, North Dakota, Wyoming, Oklahoma, and West Virginia, in...

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