Oil Prices Drop, Oil Awareness Up
Oil Revenues Down for State: It may cost less to fill up your tank, but lower gas prices around the country will result in less oil revenue for New Mexico. This will directly affect the next fiscal state budget. The state had a little over $1.1 billion in revenue from oil and gas last year. According to Finance and Administration Secretary Tom Clifford, a $1 change in oil prices causes a $7.5 million change in revenue.
