Congresswoman Haaland set an encouraging tone of collaboration and partnership in her confirmation hearing today, promising to work with all stakeholders to develop and safeguard America’s vast natural resources. Federal leasing provides public education, healthcare, and other critical needs in New Mexico with $1.5 billion annually, funds we will continue to depend upon for the foreseeable future. We look forward to working with her once confirmed to proactively combat climate change and ensure our state continues to be a leader in the safe, responsible production of oil and natural gas.
The Biden administration’s recently announced moratorium on oil and gas development on federal lands will have devastating consequences for New Mexicans. Here are a few reasons why New Mexico will be one of the hardest hit states:Read more
New Mexico — the largest federal oil producer in the country — is losing oil rigs to private lands in Texas because of industry confusion over Biden administration oil edicts, a state official said this week in a letter to the Interior Department asking for guidance.Read more
The oil and natural gas industry is the largest contributor to greenhouse gas emissions in New Mexico. Through a combination of increased regulation and innovation within the industry, public and private partners are working together to secure emissions reductions from the oil and gas sector while allowing the industry to continue to thrive and evolve here in New Mexico.Read more
Accounted for 18% of State Spending in Fiscal Year 2020
SANTA FE, NEW MEXICO, February 2, 2021 – A new analysis of state revenue and spending reveals that oil and natural gas production and development on federal lands in New Mexico accounted for $1.5 billion in revenue and 18% of total state spending in fiscal year 2020. The New Mexico Tax Research Institute provided the analysis as an update to their December 2020 report outlining total oil and gas contributions as policymakers consider the impacts of the Biden administration’s recent federal leasing moratorium. The new analysis indicates federal lands are responsible for nearly 54% of the oil and gas industry’s $2.8 billion in state revenue.Read more
SANTA FE, N.M.— Lance Wilbanks was looking forward to a rebirth for his trucking company, which saw its business hauling drilling rigs across southeastern New Mexico drop from around two dozen a month to just a handful during the pandemic.Read more