New Mexico Is Divided Over What to Do With $75 Billion in Oil Cash
- Investment Opportunities Markets
Peter Lynch- 0
- 2 minutes read
SANTA FE, N.M.—In a beige office park on the edge of town not far from a Walmart, waves of oil-and-gas money are crashing on Jon Clark’s desk.
A flood of $7.6 billion arrived in 2024. Followed by an additional $5.3 billion in 2025. This year, Clark, New Mexico’s state investment officer, is projecting $5.4 billion.
New Mexico’s oil-and-gas bounty has helped build a $75 billion investment fund that would be the envy of Wall Street. New Mexico has become the second-largest-producing oil state in the country, behind Texas, and soaring crude prices from the U.S. war with Iran are translating into another burst of revenue.
The question for the state now: What to do with it?
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