The New Mexico Oil and Gas Association contends that regardless of what it is called – a federal leasing ban, a federal fracking ban, or a federal permitting ban – the result is devastating for New Mexico.
“Any proposal restricting oil and gas development on federal lands would only result in the elimination of thousands of jobs, massive cuts in support for our public schools, and a greater reliance on foreign energy imports,” said Ryan Flynn, Executive Director of NMOGA.
“We are committed to doing our part to reduce emissions and protect the environment, but we cannot slap millions of Americans with proposals that destroy jobs and ravage communities,” added Flynn. “Any serious energy proposal must recognize the fact that oil and gas will continue to play a major role in meeting our basic daily energy needs well into the future.”
NMOGA and the American Petroleum Institute (API) recently released an analysis warning of negative consequences for New Mexico if a ban on federal leasing of public lands were to take effect. New Mexico is projected to be among the states hardest hit, losing up to 62,000 jobs by 2022.
With nearly 40 percent of the state’s budget funded by natural gas and oil production, a ban could put at risk more than $1 billion of federal revenue sharing which helps support New Mexico’s education and conservation programs claimed NMOGA.
The association also claimed a ban would result in:
- 62,000 jobs lost by 2022
- $1.1 billion in state revenues at risk
- Oil and natural gas production cut nearly in half
- Greater dependence on foreign sources of energy
“It’s clear that a federal leasing ban has to be off the table. There is just too much at stake for our kids, our economy, and our future,” said Flynn.
Source: NMOGA