Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
January Craig report trims oil forecast, shifts school funding outlook
Summary
The January consensus Craig report reduced Wyoming’s 2025 oil‑price forecast, adjusted production and accounting entries, and reported net downward revisions that reduced general‑operating revenue by about $11.55 million and the School Foundation Program by roughly $96.1 million.
The state’s consensus revenue estimating group reduced its 2025 oil‑price forecast by $5 a barrel to $65 and made accounting and production adjustments that together produce a modest decline to general operations and a sizable negative revision for K‑12 funding, presenters told the Joint Appropriations Committee Thursday.
Don Richards of the Legislative Service Office, appearing as co‑chair of the consensus revenue estimating group, said the January revisions included the $5 per‑barrel oil‑price reduction, a 1,000,000‑barrel upward revision to 2026 production, adjustments to permanent fund beginning market values, and a reduction in state royalties tied to lower production on state lands.
"Our forecasts are not for tomorrow's…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
