Fox 8 Live: Stocks slide amid coronavirus fears, oil price drop

Eric Smith, professor of practice and associate director of the Tulane Energy Institute, was interviewed by Fox 8 Live about the effect of Monday's steep decline in oil prices on Louisiana's economy.
“Reduction in oil prices translate immediately in the production of state tax revenue. But what’s happened most recently, Louisiana doesn’t produce much crude oil anymore,” says Professor Eric Smith with Tulane’s Energy Institute.
Smith says Louisiana will likely not take a big hit from the crude oil prices right away.
“Because we are simply the middle man, we’re processing it. Using our refineries and so forth. Long term with this going on for years rather than months, you’ll end up with some of the plants in Louisiana shutting down and if that happens, we’ll lose immediate payroll,” says Smith.
To read the article in its entirety, visit fox8live.com:
https://www.fox8live.com/2020/03/10/stocks-slide-amid-coronavirus-fears-oil-price-drop/
Interested in advancing your education and/or career? Learn more about Freeman’s wide range of graduate and undergraduate programs. Find the right program for you.
Recommended Reading
- Matthew Higgins: The Strategy of Innovation
- Pierre Conner: The Future of Energy Is Now
- Meet the MBA Class of ’26: Jake Kuebel
- Ukrainian scholar to discuss economic impacts of war
- Join the Freeman School for Homecoming 2012
- Burkenroad Symposium to explore turning crisis into opportunity
- Freeman hosts 2010 Tulane Energy Trading Competition
- Business Plan Competition winners have a bright idea
Other Related Articles
- Research Notes: Daniel Mochon
- Tulane launches technology ethics course bridging science, business and the humanities
- Forbes: AI Eating Tech And Other Jobs? It’s A Matter Of Perspective
- Techstrong.ai: Musk Sues OpenAI, Apple For ‘Anticompetitive Scheme’
- HR Brew: Disclosing CEO-to-worker pay ratios made employees happier with their compensation
- Lepage Center and UNO announce entrepreneurship fellows program
- Research Notes: Yumei He
- NOLA.com: Your online searches might be biased from the start. A Tulane professor studied the reason