Michelle Grisham actually said...

"I mean I am hearing--there is some evidence that would suggest that the hedges and speculation have some effect to what--and I want to understand exactly----"

"A dollar reduction in the price of oil reduces New Mexico's state revenue from this direct source by $7.5 million."

"And I am also wondering whether or not that is affecting your analysis on commodity markets just in general in the context of your examination of that rulemaking."

"The State of New Mexico receives about $2 billion in direct revenue each year from energy taxes and royalties."