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Tue December 14, 2010
Revenue forecast very promising for Wyoming
By Bob Beck
Cheyenne, WY – A co-chairman of the group that estimates Wyoming's future revenue picture says the state's economic outlook for the next few years is very positive. Bill Mai told the legislature's Joint Appropriations Committee today/Tuesday that energy prices have been higher this year than forecasted. Mai says after Wyoming revenues crashed in 2009, he and other members of the Consensus Revenue Estimating Group thought it would take time for the state to recover. He says, "things just went south in a hurry energy price wise and of course things affected us pretty fast, but it turned around again. Who thought oil was going to be 90-bucks right now."
Mai adds that natural gas revenue is also exceeding projections. He told committee members that the state's January revenue report should be very positive. Despite this, Senate Appropriations Chairman Phil Nicholas urged caution, even though the legislature now has over a billion dollars in its reserve account.