As much as Democratic leaders in New Mexico dislike the oil and gas industry, they just love the amount of revenue it creates for the state. How about $3.5 billion “more” for next year’s budget?
Thanks to growing production in the Permian Basin, New Mexico is flooded with revenue.
The Albuquerque Journal reports that New Mexico’s financial reserves reached nearly 52% of ongoing state spending this summer—-or a financial cushion of nearly $4.4 billion. As the newspaper reported it, “And the geyser is still spewing.”
Click here for Albuquerque Journal