New Mexico Doesn't Work without Oil and Gas
In 2023 alone, the oil and gas industry generated a staggering $13.9 billion in state revenue.
OP/ED written by Kimberly Skaggs, Candidate for New Mexico House District 36
The significance of New Mexico's oil and gas industry is often underestimated, but it is a critical pillar of our state's economy. Oil and gas in New Mexico aren’t just about fueling cars and homes; it's about supporting opportunities for our children and our future, while setting the global standard for clean energy production, with the oil and gas industry leading the way.
In 2023 alone, the oil and gas industry generated a staggering $13.9 billion in state revenue. To put this into perspective, this is approximately half of our general operating fund. These funds are vital to keeping our schools operational, our roads in working condition, and providing essential public services that every New Mexicans rely on daily. A large portion of this revenue, hundreds of millions of dollars to be exact, is channeled directly into our education system. This investment is shaping the future of New Mexico, providing our students with resources they need to succeed and our teachers with the support they deserve.
New Mexico's oil and gas production is the cleanest produced energy globally, thanks to our advancements in carbon capture technology. For those that want to rush into renewable energy, it is crucial to understand that we are not yet at a stage where renewable energy can meet our current demand. The transition to other forms of energy is a gradual process, and oil and gas serve as a reliable and necessary source of energy.
Outsourcing oil and gas production to foreign countries with less stringent regulatory standards not only endangers the environment but also puts our energy security at risk. By capitalizing on New Mexico's oil and gas industry, we can secure America’s energy dominance, protect thousands of New Mexican jobs, and continue to fund our state's needs. While we continue to explore and invest in alternative energy sources, we cannot overlook the importance of oil and gas in our current scenario. The industry is working to balance our energy needs, economic growth, and environmental responsibilities.
The oil and gas industry in New Mexico is not just a significant economic contributor, but a pioneer in creating a sustainable and responsible energy future. It is crucial that we recognize its importance, support its continued growth, and use its revenues to drive education and infrastructure. As New Mexicans, we have the opportunity to lead the nation in clean energy production, while securing our children's future and bolstering our economy.
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