Oil production in southeastern New Mexico is an important part of that state’s economy. But those living and working in that region – known as “Little Texas” – aren’t exactly happy about that, especially as more and more money generated from the Permian Basin oil boom gets disbursed elsewhere. Now, some locals say, half-jokingly, that they’d rather be part of Texas – only miles to the east – than deal with their Democrat-controlled Statehouse in Santa Fe.
“[New Mexico] ranks among the poorest states in the country, and it relies heavily on oil revenues to pay teachers, to buy school supplies, to keep the heat on in schools during the winter.”
What you’ll hear in this segment:
– Why those in Little Texas are unhappy with how New Mexico manages oil revenue
– Why oil revenue is important for the state
– Whether New Mexico is prepared for the boom and bust cycle of oil production
– How the oil boom has brought new wealth to southeastern New Mexico
Written by Libby Cohen and Caroline Covington.