While Democrats in New Mexico deride their dependence on oil and gas revenue from the state’s share of the Permian Basin, they now are debating whether to use the latest surge in revenue for increased salaries for state workers including school teachers.
As the Las Cruces Sun-News reported this week, New Mexico could end up with a $1.6 billion surplus in state general fund income because of record-setting oil production in New Mexico’s portion of the fertile Permian Basin oil and gas formation.
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