Far-left Democrat New Mexico lawmakers, who control both chambers of the state’s legislature, are considering bringing back previously failed attempted restrictions on oil and gas drilling, which will irreparably crush the state’s production and revenue over the coming years, according to a recent report from the state’s chief economist, as reported by OilPrice.com.
The proposed rules would impose setbacks to prevent drilling near residential, educational, and environmental zones, potentially reducing future oil output by 5.4%. In a recent legislative hearing, so-called “experts” pushing the proposal admitted they wished these proposed one-mile ban zones were actually 12 miles in radius, which would entirely decimate most of New Mexico’s oil-rich Permian Basin and oil deposits in the northwest corner of the state.
This decrease following the one-mile setback would mean a loss of about 12.5 million barrels in the first year alone, with an anticipated total of over 35 million barrels lost by the early 2030s. This production drop could peak in economic impact by 2034, potentially costing the state up to $4.5 billion annually.
The proposed legislation would require drilling operations to maintain a distance of at least 2,250 feet from homes, schools, health facilities, water bodies, and irrigation areas. Supporters like the environmental group “Earthworks” argue — without any evidence or data — that these setbacks are vital for protecting public health.
However, industry leaders caution that the economic consequences for New Mexico could be substantial. Dr. Missi Currier, CEO of the New Mexico Oil & Gas Association, noted that a statewide setback could “hinder oil and gas development and weaken the state’s economic footing.”
As the second-largest oil-producing state in the nation, New Mexico has experienced record revenue growth from the Permian Basin’s oil production boom, particularly over the past two years.
Yet, state leaders are increasingly caught between maximizing revenue and pursuing radical “environmental” targets, including significant greenhouse gas (GHG) reductions.
A recent Environmental Defense Fund study indicates that New Mexico is unlikely to meet its 2030 emissions goals, highlighting the growing scrutiny on the industry. Environmental oversight is also intensifying following a June court decision in Atencio v. State, which allows a lawsuit to proceed, challenging the state’s responsibility to protect natural resources under its constitution.
Radical eco-left bills are certain to be introduced in the next legislative session, and depending on how many seats Republicans pick up in the state Senate and House will determine if the oil and gas industry can survive these budget-killing, industry-crippling attacks.
Drill, baby, drill!
Wow, they need to keep these abortion clinics 2,250 feet from homes, schools, health facilities, water bodies, and irrigation areas. They are killing hundreds and hundreds of humans every year. Legislators protect these New Mexicans! NM Oil and Gas gives jobs, helps families and supports our economy 🇺🇸
I want to find renewable energy. I want it to be real and obtainable.
We aren’t there! It doesn’t exist! No amount of taxation or “green” legislation will change that!!!
Instead of spending all their efforts bleeding our ability to generate energy, why don’t these people push towards coming up with a new source?
The answer is pretty clear – for them, it’s not about coming up with a new source. It’s about damaging America’s ability to create our own energy.
This is another communist, death by a thousand cuts, “soft destruction” attack on America.
Look at any modern military invasion — close to the top of the list of primary targets is energy infrastructure. Do you think that just because it’s not being done with a bomb that it’s not an attack? What do you think will happen when America’s energy infrastructure is destroyed?
Thanks.
Oh boy, more taxes!!