Phasing Out Oil & Gas Development on Federal Lands Would Have Devastating Consequences for New Mexico

(Roswell) October, 23, 2020 – The Independent Petroleum Association of New Mexico (IPANM) releases the following statement on Democratic Presidential Candidate Joe Biden’s comments during last night’s Presidential Debate regarding plans to phase out all oil & gas development on federal lands if he were to be elected President:

“Joe Biden’s declaration to phase out drilling for oil & gas on federal lands represents a direct attack on the livelihood of New Mexicans,” said IPANM Executive Director Jim Winchester. “New Mexico has one of the highest federal land ownership percentages in the United States. Denying access to oil production on those federal lands would devastate New Mexico’s economy, cost tens-of-thousands of state jobs, and significantly cut state revenues. That equates to hundreds of millions of dollars of lost revenue for education, public safety, and healthcare in New Mexico. Furthermore, phasing out fossil-fuels is extremely short-sighted given the technological advancements of the oil & gas industry that have already led to significant methane emission reductions.”

–Jim Winchester, IPANM Executive Director