New Mexico chooses nest egg leader

How Big Does Your Nest Egg Really Need to Be? | Kiplinger


Even as New Mexico leaders attempt to demonize the oil and gas industry, they’ve chosen a former economist to the legislature to oversee the state’s $49 billion nest egg created by the industry.

Jon Clark was recently named state investment officer, the person in charge of savings and trust accounts at the State Invetment Council. The savings were built largely from petroleum production on state trust land to benefit schools, hospitals and other public institution reported the Associated Press.

The 11-member investment council — a board of elected and appointed officials with Gov. Michelle Lujan Grisham serving as chair — conducted a nationwide search that generated more than 80 applications.

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