The Oil Production Boom in New Mexico Could Mean More Money for Roads

With an "unprecedented" amount of money coming in from booming oil production, New Mexico legislators are considering how to spend the extra money.

1 minute read

January 30, 2019, 8:00 AM PST

By James Brasuell @CasualBrasuell

Tom Lohr / Shutterstock

"New Mexico’s oil boom could mean big bucks for statewide road projects," reports Dan Boyd.

Members of a key legislative committee are promising $300 million to $400 million in funding for state roads, to be allocated by the state's Department of Transportation. There are already numerous ideas under consideration for how the state could spend the extra money to repair a system with $1 billion in repairs identified by the DOT.

"Due primarily to a steady increase in oil production levels, New Mexico is on track to end the current budget year in June with a more than $1.2 billion budget surplus," according to Boyd.

FULL STORY: Oil boom could mean $300M to $400M for roads

Monday, January 28, 2019 in Albuquerque Journal

Infrastructure Transportation New Mexico Transportation Funding Transportation Revenue Oil Production New Mexico Department of Transportation State Roads View More

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