With a legislative session approaching, there is some uncertainty about oil tax revenues.
State law provides a lowering of oil taxes – if the price of oil drops below a threshold price for five straight months.
That price is $52.06.
"My best guess is that it's unlikely," said State Mineral Resources director Lynn Helms.
Helms says a rapid drop in oil prices usually will mean a relatively quick rebound.
"The last time we saw these kinds of price drops was during the '08-'09 economic collapse," said Helms. "We came within one day of triggering the tax exemptions."
Helms say that experience make him cautious.
"I've surely learned never to say 'never,'" said Helms. He does say he thinks the recent drop in oil prices will give state lawmakers reason to take a closer look at some of the spending and tax relief proposals that have been discussed.
"They have the money right now to deal with the 'surge' they're talking about," said Helms. "And there's no talk about cutting the 'surge.'"
The “surge” plan would have the Legislature put aid to the oil patch for infrastructure projects on a fast track – so the money would get to the local governments early.
"But a lot of people's ideas about additional tax cuts, changes in property tax, income tax and all that -- they're getting a fresh look, to see if any of that is realistic."
Gov. Jack Dalrymple will release his budget proposal in the December pre-session.