Hard times are turning more worrisome for cities and small towns in the heart of New Mexico oil and natural gas territory as state officials contemplate reclaiming dollars pledged to local construction projects to help fill a budget gap. New Mexico is confronting a $458 million budget shortfall this fiscal year because of weak prices in the oil and natural gas sectors and slow growth in other areas of the economy. State finance and legislative officials have begun compiling a list of incomplete public works projects that might be deauthorized. City governments in oil country, meanwhile, are contending with deficits of their own linked to plunging gross receipts taxes on sales and business services.
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