New Analysis Shows New Mexico Among Hardest Hit States by Proposal to Ban Federal Land Leases

09 Sep New Analysis Shows New Mexico Among Hardest Hit States by Proposal to Ban Federal Land Leases

SANTE FE, NEW MEXICO, September 9, 2020 – The New Mexico Oil and Gas Association (NMOGA) and the American Petroleum Institute (API) today released a new analysis warning of negative consequences for New Mexico if a ban on federal leasing and public lands were to take effect. New Mexico, which accounts for 57 percent of federal onshore oil production and 31 percent of onshore natural gas production, is projected to be among the states hardest hit, losing over 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.

Source: American Petroleum Institute