On February 2nd, an op-ed was published in the Santa Fe New Mexican in response to NMOGA’s promotion of the S&P Global Commodity Insight finding that in 2023, the Permian Basin reduced methane emissions by 26%.

The op-ed attempted to undermine this progress while also supporting Senate Bill 4 and its emission targets. However, there was no discussion about the feasibility of those targets and what it would do to the industry and the financial stability of the state if the targets were imposed.

It is convenient for individuals supporting SB4, including its author Senator Mimi Stewart, to overlook the economic impact of this legislation. If enacted, SB4 would have a significant impact on production in New Mexico as the stated targets are completely unachievable in the legislation's timeline. With the industry contributing 49% of the state’s budget, it would greatly affect state funding for vital resources like schools, healthcare, and community services.

Below are two infographics that illustrate the issue. SB4 is not based on science and completely ignores the financial future of our state. NMOGA is proud of the progress the oil and gas industry is making in emissions reductions and the financial support it provides to our state.

The industry has proven it is possible to do both – reduce emissions and continue to provide economic stability to our state.

SB4 Info Sheet: https://assets.nationbuilder.com/nmoga/pages/3195/attachments/original/1739823988/NMOGA_SB_4.pdf?1739823988

Environmental Stewardship & Economic Prosperity Info Sheet: https://assets.nationbuilder.com/nmoga/pages/2963/attachments/original/1739239280/NMOGA_Enviro_Stewardship___Eco_Prosperity_v2.pdf?1739239280