The Two Faces of New Mexico’s Energy Future
The Permian Basin is a lottery ticket, and New Mexico is starting to cash in. Not only have we seen towns in the southeast corner of the state grow in population and in wealth, but the local government coffers have surpluses which they are dedicating to infrastructure, pay raises, and increased social programs. Overall, the state’s budget found an additional $1.2 billion (yes, billion with a B), something we covered here.
Today Forbes tells us how successful the recent BLM land leases were for the state: an additional $1 billion in sales, half of which goes straight to the state’s budgets. That’s just the leases: once the production begins, that’s an additional source of revenue, of income, of jobs, of prosperity.
That’s some lottery ticket which may have another 70 – 100 more years of cashing in.
That’s one face of New Mexico’s. The other is the proposed Fracking Ban we see in Sandoval County. We covered that issue here. There is something ugly when the wealthiest suburb of the state’s largest city proposes legislation which will not impact them but will impact people they don’t see: energy workers. In Rio Rancho and Bernalillo, county commissioners are pushing are under pressure to pass this feel-good measure. They may not work in the energy industry, and they don’t see the hard work or the dedication of these men and women who allow them to run A/C in the summer and heat in the winter. And they don’t realize how these types of bans will crush the growing success of New Mexico.
Power The Future applauds the direction of New Mexico’s energy industry and the economic boon it brings the citizens, the prosperity it brings the workers, and the security it brings the nation. And we will push back when any feel-good activity push for rules or regulations that will try to take it away.