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  Topic: Boom: Energy cash influx leads
to a state surplus in Texas
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Boom: Energy cash influx leads
to a state surplus in Texas

Hot Air, by Erika Johnsen

Original Article

Posted By:KarenJ1, 1/8/2013 3:03:59 PM

While we all wait with bated breath for President Obama to figure out if he wants to be more or less of a stickler on domestic energy production, i.e. as he dithers at the fork in the road of letting the economy do what it does best and take fuller advantage of our abundant energy resources, or pandering more heavily to his greenie base and bringing the pain on non-’renewable’ energy sources, there is ample available evidence of the type of economic gains we could be letting loose if we could commit to the former choice on a national level. Thank goodness for federalism: egislators in Texas, the biggest energy producer among U.S. states, will begin deliberating its next two-year budget with a surplus forecast today to match an $8.8 billion record set in 2007.
Content added by staff.

Comments:
Just like California. With all their vast resources they have a state surplus. Heavy s/o The contrast between states lead by Republicans vs. Democrats couldn´t be more stark.

  

Post Reply  

Reply 1 - Posted by: texaspast, 1/8/2013 3:30:53 PM     (No. 9105551)

Let me tell you how we did it: In 2009-10, we were forecasting a budget shortfall - a deficit, if you will. All state-funded agencies, schools and colleges receiving state funds were told to expect a cut in state funding of up to 13%, depending on what actual income to the state was. Every entity receiving any state funding had to plan for the decreased funds. As it was, the cut was not so great (I think our local junior college had about a 7% decrease), all had planned their budgets on a worst-case scenario. Since the worst didn´t happen, they were all pleasantly surprised. It served a purpose - lots of ´fat cutting´, sometimes where there wasn´t much fat to begin with! That´s the real difference between California and Texas: Texas says ´here´s how much money we will have, and here is how it will be spit.´ Cal says ´here´s how much money we want to spend, and by golly we´re gonna spend it even if we don´t have it; the feds will bail us out, or our magic unicorns will come through.´


Reply 2 - Posted by: thatsomewhereplace, 1/8/2013 3:51:39 PM     (No. 9105592)

Texas be looking mighty tempting...!


   

 

  


 
Reply 3 - Posted by: pomom, 1/8/2013 4:21:12 PM     (No. 9105639)

My nephew has been after me for years to move to Texas. No state income tax, mostly red state. I´m thinking about it.


Reply 4 - Posted by: patriot in texas, 1/8/2013 4:48:23 PM     (No. 9105682)

Born here and I love Texas. People make the place always


Reply 5 - Posted by: Blue-Z-Anna, 1/8/2013 5:20:45 PM     (No. 9105746)

Deep East Texas

Pine forests....big lakes....cheap land by the acre not the foot.

A culture of generosity and hospitality.

In rural East Texas you don´t dare raise the hood on the old pick up truck out in front of the grocery store to add a quart of oil because you will be set upon by cheerful locals who want to know if you are OK....or do ya need a jump....or ´ya need some help?´

I love this place.


Reply 6 - Posted by: oh-heck, 1/8/2013 5:22:28 PM     (No. 9105749)

A big factor in the energy cash is that TX didn´t create new rules on hydraulic fracturing. That and the permit approval time for active drilling companies with a history of following the rules is 4 working days. The discovery that they could extract oil from the shale below each of the major conventional oil fields was the icing on the cake. The biggest challenge has been increasing the oil pipelines to handle an additional million barrels per day.


Reply 7 - Posted by: StormCnter, 1/8/2013 5:41:36 PM     (No. 9105781)

Texas does not have the luxury of running up deficits. The state constitution requires budgets be balanced. Keeps us as honest as is possible in a political environment.


   

 

  


 

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