Hello and welcome to your afternoon news update from The Associated Press. Today, New Mexico politicians grapple with an oil windfall from the Iran war; President Donald Trump's talk of a 51st US state is met with near silence in Venezuela; and some parents don’t want their kids to use tech at school, but districts are pushing back.
|
A pump jack operates at sunset in the Permian Basin near Loving, N.M., in 2025. (AP Photo/Susan Montoya Bryan) |
New Mexico politicians grapple with oil windfall from Iran war |
The global oil bottleneck in the Strait of Hormuz has generated a financial windfall on the other side of the world in New Mexico, a rare Democratic-dominated state where fossil fuels are a bedrock of progressive social services. New Mexico produces more oil than any other state besides Texas, and the state's revenue from taxes, royalties and lease sales helps cover the cost of college tuition, all school meals, health insurance and a new initiative for free universal child care. Now that oil prices are surging from the conflict with Iran, money is flooding into the state treasury and creating an uncomfortable situation for Democrats who oppose the war and would rather reduce their reliance on fossil fuels. Read more.
|