Posted: Feb 3, 2010 11:22 AM
Updated: Feb 3, 2010 11:25 AM
Source: Associated press
A new study says that despite decades of attempts at economic diversification, Louisiana is still heavily dependent on petroleum revenue.
The report by the Federal Reserve Bank of Kansas City also suggests that Louisiana and other energy states will lag behind a national economic recovery because of low prices for natural gas.
That would represent a reversal of a historic trend that sees energy states leave a recession first.
According to the study, Louisiana was nearly as dependent on oil and gas activity in 2008 as in 1982. Oil and gas accounted for 8.6 percent of the state's revenue in 1982. In 2008, oil and gas made
up 6.5 percent of state revenue.