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Oil Prices Are Making State Budgeters Nervous

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The state budget is based on $59 barrel for oil. We are missing that mark by $16 a barrel today. The collapse of oil prices to near $43 is causing big concerns in Oklahoma.

The Budget Czar for Governor Fallin is former Tulsa Auditor Preston Doerflinger. He says they are paying very close attention to the decline. He is concerned about big oil's direction and the big impact it could have on the state budget next year.

During the past legislative session, lawmakers patched together a budget and filled a $611-million shortfall. They did so by using one time monies. Those dollars may not be there next year. 

You can hear our Morning Edition segment with Doerflinger above.