Post by pavel on Jan 21, 2016 12:29:24 GMT -6
Texas comptroller Glenn Hegar says, of plunging oil prices: “Ain’t no more jobs to shed”
AUSTIN — The biggest hit from recent economic jitters to Texas’ revenue and budget outlook already has happened, state Comptroller Glenn Hegar said Thursday.
Hegar, the state’s chief tax collector and revenue prognosticator, projected an air of calm as stock markets slid and oil prices tanked this week.
Despite oil’s plunging to $27 a barrel, his October revenue estimate revision still looks good because the Texas economy already has absorbed most of the bad effects of an oilfield slowdown, he said.
“At some point, it gets so low, there ain’t no more jobs to shed,” the Republican comptroller explained in an interview. “There’s no more impact to have.”
Read more: trailblazersblog.dallasnews.com/2016/01/texas-comptroller-glenn-hegar-says-of-plunging-oil-prices-aint-no-more-jobs-to-shed.html/
AUSTIN — The biggest hit from recent economic jitters to Texas’ revenue and budget outlook already has happened, state Comptroller Glenn Hegar said Thursday.
Hegar, the state’s chief tax collector and revenue prognosticator, projected an air of calm as stock markets slid and oil prices tanked this week.
Despite oil’s plunging to $27 a barrel, his October revenue estimate revision still looks good because the Texas economy already has absorbed most of the bad effects of an oilfield slowdown, he said.
“At some point, it gets so low, there ain’t no more jobs to shed,” the Republican comptroller explained in an interview. “There’s no more impact to have.”
Read more: trailblazersblog.dallasnews.com/2016/01/texas-comptroller-glenn-hegar-says-of-plunging-oil-prices-aint-no-more-jobs-to-shed.html/