For nearly a century, the economic fortunes of Farmington, New Mexico, and its neighbors have hinged on fossil fuel extraction. While environmental regulations, national policy and subsidies for energy companies can affect the situation, nothing does so more than the price of the commodities. When oil or natural gas prices rise, so do the area’s fortunes. When they drop, the effects ripple through the economy, from the dozens of oil- and gas-related businesses, to local and state governments. Read Jonathan Thompson’s feature on what the rest of the West can learn from how Farmington has handled that roller coaster ride.
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