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Oil turnaround seen as boost to New Mexico growth
Economists from the University of New Mexico and New Mexico State University told the Senate Finance Committee that higher energy prices will lift growth and employment in New Mexico into 2018. They cited oil price recovery from 26.60 to near 53 a barrel and expansion in the Permian Basin, with 37 active rigs. The outlook comes as the state faces budget shortfalls and other energy producing states slip into recession per S&P Global Ratings.
MENTIONED IN THIS ARTICLE
New Mexico
Senate Finance Committee
Jeff Mitchell
University of New Mexico
Bureau of Business and Economic Research
West Texas
Mitchell
Jim Peach
New Mexico State University
Permian
Alaska
Louisiana
North Dakota
Oklahoma
Wyoming
S&p Global Ratings
Associated Press
Luis Sanchez Saturno
Capitol