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New Mexico confronts budget shortfalls amid oil bust

New Mexico budget shortfall

RED RIVER, N.M. (AP) — The full extent of New Mexico’s budget crisis came into sharp focus Wednesday as state economists described an 8 percent plunge in revenues during the fiscal year that ended in June and warned state lawmakers of a looming budget deficit during the current year. The mid-year snapshot of state finances set the stage for a ...

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Texas lawyer acquitted of BP oil spill fraud

BP oil spill fraud

JACKSON, Miss. (AP) — A Texas lawyer accused of making up fake clients to sue BP after the 2010 Gulf of Mexico Oil spill said after his acquittal Thursday that the government’s case against him “fell apart under its own weight of ridiculousness.” Attorney Mikal Watts of San Antonio and four others were acquitted Thursday by a federal jury in ...

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The Latest: New Mexico approves Facebook power plan

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SANTA FE, N.M. (AP) — New Mexico regulators have approved a power-supply plan for a proposed Facebook data center as the state vies with Utah to lure investments by the social media giant. The New Mexico Public Regulation Commission voted unanimously Wednesday to approve a plan from investor-owned utility Public Service Co. of New Mexico that would use new solar ...

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Study: Most sources of methane hot spot are gas facilities

methane, natural gas production, Four Corners

DENVER (AP) — Most methane sources contributing to a puzzling concentration of the greenhouse gas over the Southwestern United States appear to be natural gas production facilities, scientists said Monday. Researchers identified more than 250 sources of a methane hot spot over the Four Corners region of Arizona, Colorado, New Mexico and Utah. They include gas wells, storage tanks, pipelines ...

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Texas reaches deal on weaker voter ID rules for November

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AUSTIN, Texas (AP) — Texas agreed Wednesday to weaken its voter ID law as courts across the U.S., with only months before the November election, are blocking Republican-controlled states from imposing polling place restrictions that critics say target minorities and the poor. The changes must still be approved by a federal judge. But the looser rules have the important blessing ...

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DOE estimates lower cost for Los Alamos cleanup

New Mexico to roll out cleanup proposal for federal lab

SANTA FE, N.M. (AP) — The federal government has estimated the cost of cleanup at Los Alamos National Laboratory at about $1 billion less than estimates provided by New Mexico officials earlier this year. The Department of Energy says it will cost about $2.9 billion through 2035 to clean up decades of radioactive and hazardous waste left over from nuclear ...

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The Oil & Gas Awards Wants to Celebrate — Texas Style

oil and gas awards

After multiple years of battering from regulation and nose-diving commodity prices, The Oil & Gas Awards believes everyone with their head above water deserves an Award. That said, many companies have survived by adapting to harsh market conditions through streamlining business and embracing innovation. The Texas Oil & Gas Awards will be celebrating those companies that think outside the box, bringing ...

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New Mexico permanent funds shrink amid energy bust

New Mexico drilling rig

SANTA FE, N.M. (AP) — Rainy day funds overseen by the state of New Mexico have been drawn down by almost 2 percent during the past year as spending on public education and infrastructure projects outpaces investment income and revenues linked to the oil and natural gas industries. The New Mexico State Investment Council said Monday that assets declined by ...

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New Mexico Gas Co. plans natural gas pipeline to Mexico

New Mexico Gas, pipeline

ALBUQUERQUE, N.M. (AP) — New Mexico Gas Co. says it’ll seek a federal permit to begin building a natural gas pipeline from southern New Mexico to Mexico. Company spokesman Teala Kail says the $5 million project would extend the company’s existing pipeline in Santa Teresa about five miles to the U.S.-Mexico border and enlarge the pipeline. The Albuquerque Journal (http://goo.gl/CTuQez ...

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