Jul 29 2020

New Mexico’s orphaned wells need a solution now and for the future

2020-07-30T14:17:22-06:00Economic Security News Coverage, Health News Coverage, News Coverage, Tax and Budget News Coverage|

The COVID-19 pandemic is squeezing New Mexico’s already tight state budget, as vital tax revenue drops during the recession. At the same time, oil and gas companies in New Mexico and across the West are filing for bankruptcy, leaving behind orphaned wells and leaving New Mexicans with the unpaid bill for cleaning them up.

Jul 01 2020

BLM plans to sell almost 8K acres to oil and gas in October. Does New Mexico get fair share?

2020-07-15T15:54:20-06:00News Coverage, Tax and Budget News Coverage|

“The lease rates are based on current oil and gas prices, so clearly any leases sold soon will go at bargain-basement prices. As New Mexico receives a share of the lease revenue, which helps put books in our classrooms and medicines in our clinics and hospitals, we will not be getting full value for our shared state resources,” Jimenez said.

Mar 30 2020

Report says New Mexico is prepared for a recession — in some ways

2020-03-31T15:52:55-06:00Economic Security News Coverage, News Coverage, Tax and Budget News Coverage|

"It is especially important that New Mexico is relatively well-prepared to weather a recession because we will be harder hit than other states by lower oil and gas prices due to our over-reliance on that industry as a revenue source,” James Jimenez, executive director of New Mexico Voices for Children, said in a statement.

Mar 27 2020

Methane rule to help fight crises

2020-08-18T13:08:05-06:00Education News Coverage, Health News Coverage, News Coverage, Tax and Budget News Coverage|

Each year in New Mexico, oil and gas companies waste hundreds of millions of dollars’ worth of natural gas through venting, flaring and leaks, all of which worsens air pollution and costs the state more than $43 million in royalty and tax revenue. That is enough revenue to increase pre-K enrollment by 80% and offer more than 7,000 additional New Mexico kids access to quality early childhood education.

Mar 26 2020

BLM grapples with public participation amid coronavirus pandemic, while some call for lease sales to be postponed

2020-03-26T11:41:16-06:00News Coverage, Tax and Budget News Coverage|

“While New Mexico families are focused on making sure their loved ones are safe and healthy during this fast-moving crisis, other problems are brewing at the state level that may cause pain for years to come. Plummeting oil and gas prices are draining the state budget of funds needed for public safety, health care, education, and more."

Feb 26 2020

Big oil and gas get break while NM children get shortchanged

2020-02-26T12:57:07-07:00Education News Coverage, News Coverage, Tax and Budget News Coverage|

Some of the money that supports New Mexico’s education system comes from royalties and rental payments paid by the oil and natural gas industries. Because we understand how fortunate we are to have those natural resources, we tend to forget our responsibility to be the very best stewards of them that we can be.

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