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• Oil and gas continues to drive New Mexico's economy
  Oil and gas in New Mexico continued to make up a large portion of the state's bottom line, although...
  Oil and gas in New Mexico continued to make up a large portion of the state's bottom line, although most of the industry is confined to a rural, two-county area in the state’s southeast corner.
  
  Operations in Eddy and Lea counties in southeast New Mexico’s Permian Basin oilfields accounted for almost a quarter of the state’s tax revenue, per recent data from the New Mexico Economic Development Department.  The Permian produces about 5 million barrels of oil per day, nearly half of the U.S.’ national output of 11 million barrels daily.
  
  Those numbers reflected tax revenue from matched taxable gross receipts (MTGR) for the third quarter of Fiscal Year 2022 – January, February and March.
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• Tropical Storm Estelle strengthens off southern Mexico
  Newly formed Tropical Storm Estelle rapidly gained force off of Mexico's Pacific coast on Saturday...
  Newly formed Tropical Storm Estelle rapidly gained force off of Mexico's Pacific coast on Saturday and forecasters said it was likely to become a major hurricane, though without threatening land.
  
  The system developed into a tropical depression early on Friday and it strengthened into a named storm during the night. By late Saturday morning, Estelle had top sustained winds of 70 mph (110 kph), the U.S. National Hurricane Center said.
  
  It was centered about 350 miles (560 kilometers) south of Manzanillo, Mexico, and was heading to the west-northwest at 10 mph (17 kph). Tropical-storm-force winds expended outward as far as 60 miles (95 kilometers).
  
  Forecasters said it was expected to remain well offshore as it grows stronger — likely reaching major hurricane force by Monday.
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• What else is brewing Saturday morning
  The House passed two bills that protect the right to an abortion in its first legislative action on abortion since the Supreme Court overturned Roe v. Wade. The bills are not expected to pass the split Senate.
  
  ESPN is raising the price for streaming service ESPN+ by 43%, to $9.99 a month. The rights to live sports are getting pricey.
  
  Jim Thorpe, legendary athlete, has been reinstated as the sole winner of the pentathlon and decathlon at the 1912 Stockholm Olympics. Thorpe had been stripped of the two gold medals because he had accepted money to play minor league baseball, a violation of Olympic rules at the time.
  
  Lego is releasing a set based on The Office.
  
  
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• UK issues extreme heat warning for next week
  Officials are warning of extreme heat in parts of England, with temperatures expected to reach 104...
  Officials are warning of extreme heat in parts of England, with temperatures expected to reach 104 degrees Fahrenheit. The "Red Warning," first introduced in 2021, runs from midnight Monday to midnight Wednesday.
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• MarketWatch: Dow ends up over 650 points Friday as stocks trim weekly decline
  U.S. stocks finished sharply higher on Friday, snapping a five-day losing streak thanks...
  U.S. stocks finished sharply higher on Friday, snapping a five-day losing streak thanks in part to stronger-than-expected retail sales data and a moderation in inflation expectations. But Friday's rally --- which marked the best daily performance in three weeks --- still wasn't enough to overcome earlier losses, leaving stocks with a weekly loss. The Dow Jones Industrial Average DJIA, 2.15% gained 658.09 points, or 2.2%, to 31,288.26. The S&P 500 SPX, 1.92% advanced 72.78 points, or 1.9%, to 3,863.16. The Nasdaq Composite COMP, 1.79% climbed 201.24 points, or 1.8%, to 11,452.42.
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