As the drastic economic downturn driven by the coronavirus stresses state budgets, those with sizable gas and oil industries are dealing with the added pressure of the recent oil price crash.

The oil price crash that has hammered the US shale industry is now threatening to put the squeeze on one of America’s biggest university endowments.

In states of emergency caused by flooding or other natural disasters, local taxing bodies are given latitude to raise property taxes to help cover costs, but the coronavirus presents a different kind of emergency, Dale Craymer, president of the Texas Taxpayers and Research Association (TTARA), told The Center Square.

It’s the largest producer of oil in the states. Dale Craymer, the president of the Texas Taxpayers and Research Association, has estimated that the state loses $85 million a year for every

It’s the lowest price for a barrel of crude since at least the 1980s and another sign, experts say, of rough economic times ahead — especially for Texas’ energy sector.