Analysis: It’s Not the Whole Texas Economy, But Energy Is a Critical Piece

If it lasts, this week’s plunge in oil prices could hit the Texas economy in ways that make it much harder for state and local governments to help the state’s residents.

It’s part of a double whammy on the state economy that started with the pandemic-driven dive in hospitality and retail that, in turn, will be reflected in much lower-than-expected sales tax revenues to local and state governments.