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Where energy is concerned, New Mexico is one of the most important states in the nation. We are ranked sixthin oil production and fourth in natural gas production (with just a little boost our state could be 2nd in natural gas production behind Texas). Our industry employs 15,000 people in jobs that pay about 40 percent more than the average state wage. As we are fond of saying, oil and natural gas are the "Fuel AND Engine" of our economy. In 2004 our industry contributed $1.3 billion in direct tax, lease and royalty revenue to the state, and that doesn't include corporate or payroll taxes. Fiscal year 2005 is going to be even more impressive with a contribution of about $1.6 billion. The Land Grant Permanent Fund that was built and is continuing to be fueled by oil and gas is now worth $8.2 billion. Every year that fund pumps hundreds of millions of dollars into education and 20 other public entities. New Mexicans can feel very proud of this industry that does so much for all of us.
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Last Updated ( Friday, 20 November 2009 21:33 )
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The Independent Petroleum Association of New Mexico is a non-profit organization that protects and defends the interests of independent oil and natural gas producers, their employees and service companies. IPANM actively works to promote legislation that benefits the industry and the people of New Mexico. We monitor industry issues on the state and national level and get involved when necessary. Additionally, IPANM’s more than 200 member companies enjoy technical education and networking opportunities. We educate the public about the enormous positive impact our industry has on New Mexico’s economy, and we challenge anti-industry attack groups who seek to intentionally deceive the public.
