News

Study: New Mexico would lose billions if fracking banned, oil and gas leads economic growth

Adrian Hedden, Carlsbad Current-Argus | December 4, 2019

Multiple candidates for the Democratic presidential nomination proposed bans on hydraulic fracturing – a process used to extract fossil fuels from underground that was credited with the nation’s recent oil and gas boom – should they win the presidency.

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Report: New Mexico State Income Higher Than Forecasted

KRWG News and Partners | December 4th, 2019

State government income for New Mexico is exceeding expectations set out by agency economists.

A revenue tracking report from the Legislature on Tuesday showed state general fund income of $8 billion for the fiscal year that ended June 30. That is $85 million higher than a recent forecast from state economists.

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US business group: Fracking ban would have dire consequences

Susan Montoya Bryan, AP News | December 4, 2019

Campaign pledges made by Democratic presidential candidates to ban hydraulic fracturing by the oil and natural gas sector would have dire economic consequences for New Mexico and the rest of the United States if implemented, said the head of the U.S. Chamber of Commerce’s Global Energy Institute.

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EIA: US sets natural gas records in 2018

Oil & Gas Journal | November 19th, 2019

The US set new records in natural gas production, consumption, and exports in 2018, according to the US Energy Information Administration (EIA). Its Natural Gas Annual 2018 shows that dry natural gas production increased by 12% during 2018, reaching a record-high average of 83.8 bcfd.

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NMOGA’s Brighter Future Fund Announces First Awards to New Mexico Non-Profits

New Mexico Oil and Gas Association | December 3, 2019

Today, the New Mexico Oil and Gas Association’s Brighter Future Fund announced $50,000 in awards to 10 New Mexico non-profit and educational organizations. These awards are the first of a five-year, $1 million commitment to support efforts to expand STEM (Science, Technology, Engineering, and Math) Education, increase economic opportunity, and reduce hunger in communities across New Mexico.

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The Value of U.S. Energy Innovation and Policies Supporting the Shale Revolution

White House Council of Economic Advisors | October 2019

The classic effects of innovation are improvements in productivity, which lower costs and prices and increase production. Energy innovations—and the policies that support them—have similar effects and ultimately reduce prices for American households and businesses. This CEA report describes the causes and consequences of growth in oil and natural gas extraction from shale and similar geologic formations, with a focus on effects on consumers. We first discuss the dramatic rise in productivity and its effects on cost, production, and price. Second, we estimate the consumer savings brought by shale-driven declines in energy prices. Third, we assess total and shale-related changes in emissions in the United States. Lastly, we consider the effects of contrasting approaches to energy policy taken by U.S. States.

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