But Gov. Richardson said the state is making do with what it does have.

New Mexico produces one-tenth of the U.S. total in natural gas, and more than 3 percent of the nation's crude oil. But because prices are way down from last year, the state is hurting.

Six months ago, natural gas and crude oil prices were at their highest, and taxing those resources created a $400 million windfall for the state. New Mexicans got a one-time rebate as a result.

“Our economy is getting a little stronger but oil and gas is still down,” Richardson said.

Richardson and lawmakers saw natural gas and crude oil prices fall, crushing the amount of money the state would have earned, but lawmakers made the most of what they could work with.

“We've got a balanced budget. We didn't raise our taxes. We had no furloughs and services were not cut. We're luckier than a lot of other states,” Richardson said.

Economists say that for every dollar change in natural gas the state is impacted by about $100 million.

For every dollar change in crude oil, there is a $4 million impact on the state.

Because the price of natural gas dropped from 12 to 4 dollars, the state lost about $800 million.

And because crude oil dropped from $140 a barrel to $50, the result was a loss of about $360 million.

One lawmaker said it hurt twice as hard in the situation the state is in now with unemployment increasing.

“Due to unemployment, people then stop spending money in other instances in their life. When gas prices go down and people stop spending money in other areas of their life New Mexico budget takes a double hit,” said Rep. Jeff Steinborn.

The New Mexico government hopes gas and oil prices will rise to help pay for capital outlay projects and education, but New Mexico residents are hoping prices will stay a little lower a little longer for their own wallets.