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42 votes
42 votes
How does low demand for oil affect the Texas economy?

User Richard Nixon
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1 Answer

18 votes
18 votes

Answer: Causes tax revenues and unemployment.

Step-by-step explanation:

"When oil production slows in Texas, employment and tax revenues decline, and budget cuts at the state and local levels often follow. (Craymer has estimated that the state loses $85 million per year for every $1 decrease in oil prices.)"

Hope i helped in some way?? :) Im not really the smartest person.

User Wingear
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