Page 2 - Bryan Mcneely News Today

Market fluctuations in the next 15 years could result in $36 billion less in fossil fuel revenue than present state forecasts, read a recent study.

Market fluctuations in the next 15 years could result in $36 billion less in fossil fuel revenue than present state forecasts, read a recent study.

Oil and natural gas-related taxes and payments are driving projected increases in the state's general fund and stirring concerns about a future revenue drop.

Group warned New Mexicos over-reliance on one industry for government revenue creates long-term risk to the state budget.

A report presented to lawmakers on Monday states too much of the state's financed are tied to the ups and downs of the fossil fuel industries.

Financial consultants warned members of the Revenue Stabilization & Tax Policy Committee Monday that the state’s reliance on the notoriously boom-and-bust oil and gas sector is risky. They implored lawmakers to reform taxes and diversify the economy to protect itself.