Energy Tomorrow Blog
Posted March 18, 2021
It’s not surprising that New Mexico’s governor, both U.S. senators and other elected officials are concerned with the Biden administration’s halt in new federal natural gas and oil leasing. In 2020, New Mexico was the nation’s No. 3 crude oil producer and No. 8 natural gas producer, and the administration’s policy could affect billions of dollars in state revenues and thousands of jobs.
Gov. Michelle Lujan Grisham, a Democrat, penned a letter to President Biden earlier this week cautioning that potential lost revenues as a result of the policy could mean significant hardship for her state. New Mexico receives more than 40% of its total revenue – nearly $4 billion annually – from taxes and royalties paid by the natural gas and oil industry.
Posted September 16, 2020
As former Vice President Joe Biden continues to clarify his position on fracking – saying he’d allow it with some environmental safeguards – what he’s not talking about is huge: His and the Democratic Party’s pledge to effectively end new natural gas and oil production on federal lands and waters.
Few states are projected to be hit harder than New Mexico, where more than 30% of the land is controlled by the federal government and accounts for half of the state’s oil production. As of May, New Mexico was producing 885,000 barrels per day, ranking it second in the nation. So, yes, Biden’s promised ban is making folks in New Mexico a little nervous.
Posted January 29, 2020
The U.S. shale revolution keeps rolling, and with it strong support for state and public priorities. Texas and New Mexico each achieved record highs for industry contributions to statewide revenues and royalties, according to new reports from the Texas Oil and Gas Association (TXOGA) and the New Mexico Oil and Gas Association (NMOGA).
In 2019, America’s natural gas and oil industry posted a record-setting year in terms of production and exports. And last fiscal year, energy operators paid billions of dollars in state and local taxes that fund education, infrastructure and healthcare facilities for residents across the southwestern U.S.
Posted January 17, 2020
API’s State of American Energy report is focused on the growth and empowerment that natural gas and oil provide to communities across the United States. Las Cruces, New Mexico, is one of them. Thanks to abundant, affordable energy, cities and towns like Las Cruces are on the move, with opportunity expanding before them.
Posted October 16, 2019
Hydraulic fracturing – the technological breakthrough that launched the U.S. energy revolution – has taken a beating during the Democratic presidential derby.
The Washington Post ran a graphic recently, showing that the entire field would ban fracking altogether or restrict it in some capacity. Here’s the portion of the graphic showing the candidates who would ban fracking completely. The group includes some top-tier candidates, U.S. Sens. Elizabeth Warren, Bernie Sanders and Kamala Harris. Sen. Warren tweeted last month that she would ban fracking everywhere, while Sen. Sanders told the Post that safe fracking is a “pure fiction.”
Not fiction are the negative impacts throughout our society that could result from banning hydraulic fracturing: millions of job losses, trillions lost to the economy, significant increases in household spending on energy.
Posted October 8, 2019
Take a look at a recent interview with API President and CEO Mike Sommers conducted by Albuquerque TV station KOB-4 – a conversation about the dual challenge of providing the energy Americans need every day to work, grow and prosper, while protecting the environment and lowering emissions. There’s no better setting for this discussion than in energy-rich New Mexico.
Indeed, the prolific Permian Basin that covers New Mexico’s southeastern corner before spreading into neighboring Texas is a big reason why the United States continues to lead the world in natural gas and oil production.
Posted October 7, 2019
The U.S. energy revolution is at work for New Mexico and the state’s higher education system.
Gov. Michelle Lujan Grisham made national headlines last month by announcing free tuition at public universities for all residents, regardless of family income. That’s all 29 of the state’s two- and four-year institutions beginning next fall, benefiting an estimated 55,000 New Mexico students.
Thanks to the state’s natural gas and oil development.
Posted May 11, 2018
Protecting the environment is a core industry value. The environment belongs to everyone, and our companies and their employees are committed to producing natural gas and oil as safely as possible. This commitment includes preserving habitat and looking out for wildlife.
In this 2016 post and this post earlier this year, API colleague Kate Wallace detailed how companies have monitored elk populations in Wyoming and polar bears in Alaska, created artificial reefs off the Gulf Coast, developed pollinator gardens and bee sanctuaries and more. Companies also worked across five western states to create conservation areas for the lesser prairie chicken and preserve habitat for the sage-grouse. Our commitment is backed up by action.That’s why we’re optimistic a constructive and comprehensive plan can be crafted to take care of the dunes sagebrush lizard in West Texas and southeastern New Mexico while also maintaining critically important natural gas and oil production in the region – which would be unlikely if a new effort to list the lizard as endangered under federal law succeeds.
Posted September 9, 2016
Posted July 2, 2015
Today we look at New Mexico, continuing our series of posts that highlight the economic and jobs impact of energy in each of the 50 states. We started with Virginia, then Ohio, and Colorado. The energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.
The topline numbers: 105,600 jobs supported statewide; according to PwC; $11 billion added to the state economy; $5.3 contributed to the state’s labor income. All are significant drivers for the state’s economy.