Energy Summit: Industry to partner with local to sustain oil and gas growth
Adrian C Hedden | Carlsbad Current-Argus | September 6 2018
There’s no end in sight for the ongoing oil boom in the Permian Basin and southeast New Mexico, but oil and gas and government officials called on the industry to partner with the communities that host developments to make sure continued industrial expansion is sustained — and safe.
Read moreNew approach to extracting fossil fuels has benefits
Hari Viswanathan & Richard Middleton | Albuquerque Journal | August 31, 2018
SANTA FE, N.M. — Fossil fuels continue to drive our economy, as well as most of our cars. So it’s worth pursuing a new approach with economic and environmental benefits: using carbon dioxide (CO2) as a fracturing fluid, incentivized by a new development in the federal tax code. This technique creates a win-win-win: increased domestic oil and natural gas production with lower environmental impact, including permanently sequestering CO2 underground, which helps maintain earth-system balance.
Read moreThey Said It Couldn’t Be Done: Trump Admin Dominates with Billion-dollar Oil and Gas Sale
U.S. Department of the Interior | September 6 2018
WASHINGTON – In a testament to the Trump Administration's America First Energy Plan, the Bureau of Land Management’s (BLM) third-quarter oil and gas lease sale in New Mexico broke all previous records by grossing nearly $1 billion in bonus bids for 142 parcels. The two-day sale brought in more revenue than all BLM oil and gas sales in 2017 combined, and surpassed BLM’s previous best sales year. Revenue from the sale totaled $972,483,619.50 and illustrates the Trump Administration’s commitment to sustainably developing America’s energy and natural resources to achieve American energy dominance.
RESEARCH & COMMENTARY: FRACKING CAUSING SURGE IN TAX REVENUE FOR NEW MEXICO
Tim Benson | The Heartland Institute | August 30, 2018
A report released in August 2018 by the New Mexico Consensus Revenue Estimating Group found state revenues will be 15 percent higher for the current fiscal year, which began in July, than previously estimated, leading to an extra $1.2 billion for state coffers. This is primarily due to “unprecedented” oil production levels in the Permian Basin due to advances in hydraulic fracturing (“fracking”) and horizontal drilling technology. The Land of Enchantment is now the third-largest oil producing state in America, behind only Texas and North Dakota.
Read moreSchools in New Mexico’s oil region see enrollment spike
The Republic | August 28, 2018
HOBBS, N.M. — A school district in the heart of New Mexico’s booming oil and gas region has hit record enrollment. And administrators are wondering if the district will need more schools.
