- Nation’s 3rd-largest gas producer delivered $13 billion to state coffers in 2024
- NM’s cleaner gas exports can help Arizona, West meet surging electricity demand
ALBUQUERQUE – Consumer Energy Alliance (CEA), the leading energy and environmental advocate for families and businesses, today released a report examining how New Mexico’s natural gas supports the state’s prosperity, funds critical government services and meets surging regional energy demand while helping deliver the nation’s most affordable energy to households.
The CEA analysis, “Fueling New Mexico’s Future”, highlights the multiple ways natural gas contributes to the state, starting with fact that natural gas and oil delivered $13 billion to the state in 2024 and provided 34% of its recurring General Fund revenue in 2024. That is the same year New Mexico became the nation’s third-largest natural gas producer, accounting for 8% of all U.S. natural gas production.
“New Mexico’s natural gas industry is proof that we can build our economy, help our citizens and share the benefits across state lines into Arizona and the rest of the West, while keeping prices affordable and energy reliable for our people,” said Matthew Gonzales, CEA Southwest Executive Director. “By supporting responsible development and recognizing that we must build the infrastructure to get our gas where it is needed, New Mexico is building for its people’s future economic prosperity and helping our neighbors meet their surging electricity demand.”
The Land of Enchantment produces 10 times more natural gas than it consumes. Natural gas provides approximately 29% of New Mexico’s electricity generation and heats nearly 6 in 10 households. This abundance translates directly into tangible benefits for families: New Mexico households pay the lowest total energy costs in America, with monthly electricity bills averaging $103.36—more than 30% cheaper than the national average.
“There are a handful of those in our state who would wish natural gas away, and in doing so, wish away our shared prosperity and valuable funding for services that support all New Mexicans,” Gonzales said. “New Mexicans have a proud history of showing up for our state, our neighbors and our country, and our gas industry helps us do all three – and deliver the foundation of a good economy, which starts with reliable and affordable energy.
The affordability advantage is particularly crucial for low-income families. In a state where one in five residents lives in poverty and households in the lowest-income areas spend close to 9% of their income on energy bills, natural gas provides reliable, cost-effective heating at nearly half the cost of electricity. Low natural gas prices have saved New Mexico households and businesses approximately $7.61 billion between 2015 and 2024.
The natural gas and oil business provides family-sustaining jobs to more one out of eight New Mexicans. That is more than 100,000 people and 46% of those working in the industry are Latinos.
For tribal communities, natural gas development has funded scholarships, healthcare clinics, and infrastructure projects. The Native American Energy Efficiency Program alone saves 2.8 million gallons of water annually and enough natural gas to heat 3,900 homes for a month across 11 tribal communities.
Read the full report here.
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About Consumer Energy Alliance
Consumer Energy Alliance (CEA) is the trusted voice advocating for affordable, reliable, and cleaner energy solutions that benefit all Americans. Representing families, farmers, small businesses, distributors, producers, and manufacturers, CEA champions sensible, balanced policies that support economic growth and environmental resiliency; and ensures families and businesses are a vocal part of the nation’s energy dialogue. Every day, we work to inspire practical, responsible solutions that meet America’s energy needs while protecting the environment for generations to come.
Contact:
Bryson Hull
(202) 657-2855
bhull@consumerenergyalliance.org