Natural Gas Prices Continue to Fall

Wyoming natural gas prices are continuing to fall, meaning even less revenue for state government. 
 
Gas leaving the Opal hub in southwestern Wyoming is now selling for $2.75 per thousand cubic feet. 
 
Much of the Cowboy State's revenue comes from taxes and royalties on natural gas. Last fall economists estimated that the price would be $4 per cubic foot. 
 
However, now that the price is at $2.75, there will be 164-million dollars less to spend than initially projected. 
 
As K2 News reported yesterday, the Legislature's Joint Appropriations Committee has set aside $150 million to help offset that shortfall.