CEA New Mexico director Matt Gonzales examines why federal leasing is important to New Mexico’s economy, how it funds education, and how a federal ban on leasing will have negative consequences for the future of our state.
This November, oil and gas leasing is on the ballot. If such leasing is phased out as promised in the Democratic platform, New Mexico would be the big loser. Nearly half of the state’s oil and gas production occurs on federal land. The New Mexico Oil and Gas Association figures such a ban would cost the state 62,000 jobs by 2021 and more than $1 billion in federal revenue.