Oil and gas revenue to create massive surplus for New Mexico government

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Despite having what critics call a “Green mob” governor in Michelle Lujan Grisham and an administration that fights oil and gas, New Mexico is about to score a $3.5 billion general fund surplus thanks to the oil and gas wells pumping in the state.

A new forecast issued this week explained how New Mexico’s state government income has ballooned by nearly 50% in the past three years and is expected to create the large surplus for the year running through June 2025, reported the Associated Press.

It means the governor and Democratic leaders in the state’s legislature will have to focus on how to spend all the income from oil and gas and set some aside for the day when their push for renewable energy projects results in faltering energy revenue for the state.

Nearly half of New Mexico’s general fund is traced to the oil and natural gas industry.

Click here for Associated Press