Big Blow For NM: Saudi Power Play Could Send Oil Below $20 a Barrel For an Extended Period, Oil Firms Cut Jobs in NM

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We have not followed Biblical Principles in budgeting, we spend more than we have, we put all our eggs in one basket, the oil industry, we failed to diversify our economy. I have sounded the alarm bell on this for years.

Romans 13:8 Let no debt remain outstanding except the continuing debt to love on another.. Proverbs 22:7 The rich rules over the poor, and the borrower is the slave of the lender. Psalm 37:21 The wicked borrows and does not repay, But the righteous shows mercy and gives.

For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Luke 14:28

Gas prices are falling, gas and oil revenue to the state coffers will slow to a trickle, crippling the New Mexico budget. Last week gas was at one time 83 cents a gallon at Sams in Albuquerque. We are praying for all. It is going to take a long time for the world to recover from the effects of this pandemic. These stimulus checks are like a squirt gun trying to fight a wildfire, plus we here in America have no money, we just print monopoly money. Public debt is also very, very huge.Federal Deficit and Public Debt

Do not put your faith in politicians, both parties have failed to address the Federal Deficit. They have failed the American people.

Daddy taught me early, when I got my first job as a paper boy at 9-years of age he told me, “Son, never spend more than you have.” Soon I had two paper routes, I also mowed lawns, shoved snow, worked the bean fields. I eventually earned enough money at age 24 to go to radio and tv school, the rest is history. Here at FGGAM, we owe no money to anyone.

Money is not the answer, JESUS is….America return to JESUS and HIS ways!

Many Americans are greedy. No planning for a raining day.

Come to Jesus, America. Follow Biblical principles.Credit Card Debt Survey

I am very thankful for the preparations New Mexico Hospitals are making as COVID-19 cases mount up in the state. I am thankful for the leadership of Governor Lujan Grisham who has done great a good job in preparing our state for this pandemic. I do pray that the Governor will close the abortion clinics in the state as other Governors are starting to do. (See Post Below) I am very thankful for all the hospital administrators, doctors, nurses, technicians, EMT’S, Fire, Police all first responders, all truck drivers, delivery people, U.S. Post office, Fed EX, UPS, all those delivering food to those in need. This is a people issue, not a political issue, New Mexico coming together as one.

Our daughter, Gretchen has started as a Respiratory Therapist at Lovelace Hospital, please pray for her and all others, including my buddy Chad Pate and his wife, they both are EMT’s. So many in Harm’s way for us all, politics means nothing to them, your prayers and love and support mean all.

I also got word yesterday that Catron County has its first case of COVID-19. A lady who worked at the grocery store in Quemado came doen with it. We are praying for all! As many as you know I preach in Catron County at FBC in Reserve. It was very painful for me to call Deacon Charles McCargisg this week and tell him its best I do not come.

Thanks to the Albuquerque Journal for this report on how New Mexico Hospitals are preparing for the onslaught of patients. ABQ Journal Report

From Billy Graham:

Those who keep Heaven in view remain serene and cheerful in the darkest day because they keep the glories of Heaven at the forefront of their thinking. If more people thought less of themselves and material things and more for things eternal and spiritual, they too would be less easily disturbed by this present life.

Nowhere does the Bible teach that Christians are exempt from the tribulations and natural disasters that come upon the world. It does teach that the Christian can face tribulation, crisis, calamity and personal suffering with a supernatural power that is not available to the person outside of Christ.

Thousands of Christians have learned the secret of contentment and joy in trial. Some of the happiest Christians have drunk from the full cup of trial and misfortune. Some have been lifelong sufferers. They have had every reason to sigh and complain, being denied so many privileges and pleasures that they see others enjoy, yet they have found greater cause for gratitude and joy than many who are prosperous, vigorous and strong. God’s purpose in this is to show an unbelieving world that His grace is sufficient.

This was the great testimony of the apostle Paul when he proclaimed in his suffering that the Lord comforted him with these words: “My grace is sufficient for you, for My strength is made perfect in weakness.” Paul responded, “Therefore most gladly I will [rejoice] in my infirmities, that the power of Christ may rest upon me… for when I am weak, then I am strong” (2 Corinthians 12:9-10).

Saudi Power Play Could Send Oil Below $20 a Barrel for an Extended Period
The ruling family’s decision to move ahead with a production boost means the world will be awash in oil at a time when oil demand is plummeting.

Read in Barron’s: https://apple.news/AhJI6CF1wSFiZzcoLwx7jaA

Oil firms cut hundreds of jobs in Texas and New Mexico as prices crash

Shared from Apple News

My Post from March 20th, 2020:

As I shared with you yesterday the New Mexico House GOP has called for a special session to deal with the budget crisis in the state. As I posted before, during and after the 2020 session, the Governor had a pie-in-the-sky budget! My goodness! When you plan your entire future on oil and gas money…….that is very, very foolish. When will New Mexico learn? When will we diversify our economy??? I have preached that for years and years, dating back to my KKIM Radio days! Both the Republicans and Democrats have failed this state in not diversifying our economy! The Republican Governor thought Hollywood would save the day!!! ABQ Journal Story on Collapse of Oil and Gas Revenue

Now, a person who is put in charge as a manager must be faithful. 1 Corinthians 4:2

God has given each of you a gift from his great variety of spiritual gifts. Use them well to serve one another. 1 Peter 4:10

We would be best if we dropped this partisan politics stuff and get together, work together, this hate is getting us nowhere. Both parties are at fault and here in New Mexico we have no better evidence than this oil and gas crisis. ITS CALLED DIVERSIFICATION! Stop looking at the politics in everything and see the truth through the eyes of God. The leaders in New Mexico have failed to to good solid planning over the years.They have failed to be good stewards of God has given us.

A good farmer can tell you all about diversification. It may be good to have a Bible and also a dictionary at the State Capital. New Mexico is still aborting God’s babies. You are very foolish if you think God is going to bless this state while we allow His babies to be killed, no high school pep rally will help with this blood shed taking place in our own backyard. Many in this state and country have more concern for their own political hide and bank account.

From Yesterday:

FGGAM NEWS just received this news release from NM House GOP:

House GOP Calls on Governor to Convene a Special Legislative Session to Proactively Address the Looming State Financial Crisis

Santa Fe, NM– New Mexico’s budget is experiencing major upheaval from the recent oil market crash and the response to COVID-19. State revenues are plummeting, and many small businesses and their employees are facing untold consequences as New Mexico is on the brink of a major economic and fiscal crisis.

House Republican Leadership, in a letter delivered today, are strongly urging the Governor to take extraordinary action to reconvene the Legislature to ensure the current and next year’s budgets are balanced and to provide relief to the families and businesses in New Mexico that are being negatively impacted by the efforts to contain the spread of COVID-19.  With oil and gas revenues accounting for 45 percent of current state revenues, the dramatic decline in oil prices could result in a budget shortfall of $500 million to $1 billion. For every dollar the price of oil drops in the markets, New Mexico revenues are reduced on average by $22 million. Oil prices have been hovering around $22 per barrel in recent days, which is $30 per barrel lower than the original price per barrel projections the Legislature used in building New Mexico’s record-breaking operating budget in February.

The House Republican Leadership is asking the Governor to take immediate action to quickly and proactively produce for New Mexicans a balanced budget and assist those most affected by restrictions being placed on New Mexico’s economic activities by calling a Special Legislative session:

  1. Convene the revenue consensus group of various executive and legislative branch economists to develop updated state revenue estimates for both Fiscal Years 2020 and 2021.
  2. Establish a working group of DFA staff, LFC staff, and legislative leaders to explore specific areas within the state budget where budget savings and fund sweeps can be made quickly for the current fiscal year.
  3. Develop a new budget plan for Fiscal Year 2021 which is based on limiting state spending to meet those agreed upon new revenue estimates.
  4. Due to the uncertainty whether a recession will occur this year and not knowing how long oil prices will stay depressed, commit to preserving state reserves at adequate levels in order to keep these reserves available for a potentially longer-term budget crisis that may extend beyond Fiscal Year 2021.  This will also help to protect our bond rating going forward
  5. Closely monitor the actions of the President and Congress in enacting a likely economic stimulus package and develop a comprehensive plan which blends both state and federal fiscal actions to ensure New Mexico’s immediate economic problems are mitigated as best as possible.
  6. Consult with small business leaders across the state to determine the current economic challenges these businesses are experiencing and develop a detailed proposal to provide needed financial assistance to ensure these employers can resume their normal activity once the COVID-19 crisis has passed.

House Republican Leadership suggests the following budget considerations to protect the future for New Mexico:

  • Holding spending to 2020 levels until new revenue estimates can be established, at which time we can budget spending to match these new revenues.
  • Roll back new funds and programs that didn’t exist prior to the 2020 budget session before considering cuts to programs that New Mexican’s currently rely on.
  • Match the federal government’s accommodations to allow tax filers up to ninety days to pay their tax bills without penalty or interest.Oil firms cut hundreds of jobs in Texas and New Mexico as prices crash

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