The President of the Wyoming Senate said that falling energy prices are a concern, but he says the state must still be able to grow.
During his opening speech to the Wyoming Senate, Phil Nicholas urged Senators to look ten years out and determine where Wyoming should be. He said that the state will likely see little revenue growth in the near future, but he says that shouldn’t stop Wyoming’s development plans.
“Maybe energy production prices will come back at rates that we don’t expect and amaze us and we don’t have to experience that. But if not, and do we enter this plateau area, let’s have the courage to plan and make changes and ensure that the following ten years will be one of growth and prosperity so when people look back on it they don’t see it as a lost decade."
Nicholas said Wyoming has survived economic downturns many times in the past.