Albuquerque, NM (KKOB) –War is good for a least one New Mexico business. According to new projections from the New Mexico Legislative Finance Committee, the ongoing conflict in Iran means $850 million more will flow into state coffers by the end of the current fiscal year ending June 30th. LFC Chief Economist Ismael Torres told lawmakers that the projected windfall results from a sharp increase in the price-per-barrel of oil since the U.S. began an armed conflict with Iran in February. Adding, that for every $1 increase in the annual average price of oil, New Mexico reaps a little over $57 million in increased revenue. However, a recent Moody’s Analytics report states that if oil prices reach $120 a barrel, a recession will result.
