New Mexico On Pace For Record $8 Billion Revenue -- Oil -- Source -- August 29, 2019

Updates

December 20, 2020: The New Mexico Public Regulation Commission on December 16, 2020, denied a request by El Paso Electric Co. to build a 228-MW natural gas-fired plant because it will not meet the state’s 2045 net-zero goal, even though the company has already started construction on the facility.

December 19, 2020: New Mexico will limit / ban freshwater for fracking. Developing.

Original Post: August 29, 2019

Link here to Las Cruces Sun News.

New Mexico is now on track to collect an unprecedented $7.8 billion in the budget year thanks to skyrocketing oil production, according to a new legislative revenue tracking report.

The report says total state revenue collections were roughly $273 million above projected levels through April largely because of oil production in southeastern New Mexico, the Albuquerque Journal reports.

The higher-than-expected revenue surge for the budget year that ended June 30 could allow for additional spending increases on public schools, roads, pension funds and other programs.

Based on more recent reports about faux environmentalists getting ready to stifle New Mexico's oil industry it will be interesting to see the follow-up to this story three years from now.