Business
Iran War Delivers Windfall to America’s Oil Country
SANTE FE, N. M.—New Mexico churns out about 2.3 million barrels of crude every day, enough to make it the nation’s second-largest oil-producing state behind its more famous neighbor, Texas. In fiscal year 2025, New Mexico raked in at least $7.3 billion in revenue from the output. Now, it stands to make even more.
Higher oil prices brought on by the conflict with Iran might vex the global economy, but for some U.S. states, they are a windfall that will help close budget deficits, fund early childhood education and improve roads.
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