Global oil prices rose to a three-week high over the weekend, up as much as 25% from the 12-year lows hit last week. Additionally, there has been speculation about a deal between the major oil exporters to slash production.
I'm thankful my husband still has his job in the oilfield, but there are many families in south Louisiana who are suffering because of the drop in oil prices. I know it scares me, and it's a real fear for them.
The state of Louisiana's fiscal budget is based on the price of oil being $63 per barrel. With the current price of oil well below that value our state's leaders are going to have to make some tough choices.