Louisiana loses $13 million for each dollar drop in the price of a barrel of oil. The state’s budget is based on oil selling for $84 per barrel this year and $72 next year. With oil under $50 and budget problems that are otherwise comparable to other states, Gov. Bobby Jindal is facing a huge shortfall that could transform him from a prodigy to a GOP hero or leave him as just another governor overwhelmed by the economy.
HT: Governing.com
