Published : Wednesday, 30 May 2012, 7:01 PM MDT
by Deanna Sauceda
ALBUQUERQUE (KRQE) – Crude oil prices have been dropping, so has natural gas, but what’s good for consumers has state number crunchers worried that could impact state revenues.
New Mexico is seeing a switch due to the changes in the fuel industry, according to John Felmy, chief economist for the American Petroleum Institute, who was in New Mexico Wednesday.
Natural gas prices are at a 10-year low, and this winter crude oil was more than $100 a barrel. So crude oil drilling exploded in New Mexico.