Photographer: Mark Ralston/AFP via Getty Images

Oil-Producing States Battered as Tax-Gushing Wells Are Shut Down

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  • Louisiana, Alaska, Oklahoma face rating cuts because of impact
  • Energy regions left behind as fiscal recovery gains steam

In Kern County, California, one of the nation’s biggest oil producers, tumbling energy prices have wiped more than $8 billion from its property-tax base, forcing officials to tap into reserves and cut every department’s budget. It’s only getting worse.

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