The WSJ has an interesting article that illustrates why states should consider things very carefully before they lean on producers for taxes: "In Arkansas, severance-tax revenue from natural-gas production declined 33% through October, compared with the same period a year ago. *** Earlier this year, Wyoming Gov. Matt Meade instructed state agencies to trim their budgets for next year by 8%, as a result of the impact of low natural-gas prices. Since then, the output of coal—another big revenue generator for the state—also has sharply slowed."
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