Oil and gas contributed nearly $3 billion last year to New Mexico’s state government

 

A new report called Fueling New Mexico provided by the New Mexico Oil and Gas Association pointed out that the industry provided close to $3 billion in revenue to the state last year.

The report said the $2.8 billion in revenue included $1.4 billion for public schools and higher education, $640 million for health and human services and $157 million for public safety.

Ryan Flynn, President and CEO of the association released the report this week.

“Thanks to the industry’s resiliency in the face of the global pandemic, New Mexico received the second-largest amount of revenue from oil and gas in our state’s history. This accounts for more than one-third of the state budget,” he said.

Flynn added that with the start of the New Mexico legislative session on January 19th, it is important for the lawmakers to be aware of the industry’s contributions.

“Oil and gas funds our schools, roads, healthcare, and first responders, while supporting tens of thousands of jobs in the state. We know that when the oil and natural gas industry is allowed to thrive, the benefits are felt in every corner of our state,” added Flynn.

Click here to read the report: www.nmoga.org/fuelingnewmexico

 

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