Pit Rule # 17 Scrutinized

We found a report on State and Local Oil and Gas Revenue in New Mexico over the last four years. Keep in mind that prices and volume also effect total revenue.
FY 2007 - $ 2,007,659,533
FY 2008 - $ 2,451,175,188
PIT RULE # 17 enacted
FY 2009 -  $ 1,955,176,459
FY 2010 - $1,658,694,937 (estimated)

The 800 million dollar question for New Mexicans is this: Did Pit Rule # 17 cause the state revenue pipeline to spring a leak? Look at all the data here: News New Mexico

Pit Rule # 17 Scrutinized