Low oil prices are effecting many in America…..from the small businessman, big businessman, oil patch workers, to the average American like you and me, to the big boys on Wall Street. The drumbeat of low crude oil prices has taken hold and causing much pain in the oil patch and all over the U.S., its the domino effect. Companies are slashing capital budgets by the billions. Investment research firm Morningstar expects the downturn to last all of 2016, and said last week that near-term prices could be ugly. In New Mexico where the state heavily relies on oil and gas tax revenue to feed the state budget there is deep concern what the oil bust means to the Land of Enchantment. The New Mexico Legislature convenes its 2016 session tomorrow as the Governor and Legislature looks at a $6 Billion plus spending plan with falling oil prices. More Here
