Lower tax revenues because of job losses in energy and related sectors due to the collapse in oil prices will hit the budgets of oil-producing states through the remainder of this fiscal year and next, Moody’s Investors Service said on Monday. Moody’s comments came after Oklahoma revised down its revenue projections last Tuesday for the remainder of the current fiscal year by $444 million, or 8 percent, and by 13 percent for the next fiscal year, which starts July 1. The price of U.S. crude has fallen to its lowest level in seven years at just over $34 per barrel. The price has fallen nearly 70 percent over the last 18 months. Moody’s analysts expect to see a similar dynamic to Oklahoma in Alaska, Louisiana, New Mexico, North Dakota and Texas, with those states having to […]