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.Read more
The unemployment rate in Santa Fe County in October was in the same league as in oil boom Lea and Eddy counties and the state’s richest county, Los Alamos.Read more
Oil and gas production grew New Mexico’s economic output by the fourth-highest rate in the country this year, as the extraction industry boomed in the Permian Basin in the southeast corner of the state.Read more
There are countless reasons to be thankful for New Mexico’s oil and natural gas industry this holiday season, but we've done our best to narrow down the list to 10 of our favorites.Read more
Some industry leaders believe New Mexico may not face the same kind of rollercoaster ride with energy activity that it has in the past.
On Thursday, Albuquerque Business First hosted its Energy Outlook panel as part of ABF’s Grow New Mexico Series. Panelists included Missi Currier, president and CEO, Economic Development Corp. of Lea County; Hugo Gutierrez, Director, State Government Affairs, Marathon Oil Corp.; Debra P. Hicks, president and CEO, Pettigrew & Associates; Adrienne Sandoval, director of the state Oil Conservation Division; and Randy Velarde, president, Plaza Group.Read more