Photographer: Kevin Schafer/Getty Images

Oil's Collapse Hurting States That Were Counting on $50-a-Barrel

  • Energy behind strains in at least five of 11 states, S&P says
  • Louisiana, Alaska, Oklahoma among those feeling it most

When Louisiana, one of the nation’s biggest energy-producing states, decided how much tax money the government would have to spend this year, it forecast that the price of oil would be almost $50 a barrel. It’s since tumbled to below $32, casting economic ripples that helped create a $750 million budget shortfall.

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