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What is one important resource in New Mexico? What is it used for and how does it affect the economy? Respond in 3-5 complete sentences.(5 points)

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One important resource in New Mexico is petroleum. It is primarily used as a source of energy for transportation, heating, and electricity generation. The oil and gas industry significantly contributes to the state’s economy by providing jobs, generating tax revenue, and attracting investments. Additionally, the revenue from petroleum production helps fund public services and infrastructure projects, further boosting economic growth in the region.

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