Oil Revenue Could Drop $4 Billion

The falling price of crude oil has North Dakota lawmakers looking at a financial forecast that reflects a more than $4 billion shortfall in oil revenue.

Appropriations committees from the House and Senate have voted to accept the revised figures for the next two-year budget cycle.

House Majority Leader Al Carlson says the state’s top priorities will still be funded but most everything else “is open for discussion.”

He says oil production is forecast to remain steady even though North Dakota crude is going for below $40 in some markets.