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Industry Benefits

Industry Benefits

Oil & Natural Gas are the lifeblood of the world. Don’t anyone ever tell you differently. To quote Alex Epstein, author of The Moral Case for Fossil Fuels, “Fossil fuels are making the world a better and better place by providing uniquely low-cost, reliable energy to billions of people–and are needed by billions more.” In New Mexico, the Oil & Gas industry is the top sector for state, contributing over $5.3 billion dollars to state and local economies. The New Mexico state budget, alone, received $2.96 billion dollars in direct revenue from the oil and gas industry in our state. That makes up 35% of the entire state budget, which is money that directly goes to funding teachers, first responders, and infrastructure that delivers everything from food, fresh water, and home heating in New Mexico.  Thus, Oil & Gas is the primary supplier and distributor of the three essentials of life: food, water, & shelter.

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New Mexico Benefits

Facts

  • Oil & Gas is a $27 billion industry in New Mexico. The extractive industries in New Mexico are the largest contributors to growth of the GDP in New Mexico.
  • Oil & Gas industry supports over one-third (35%), or nearly $3 billion of the state’s annual $8.9 billion budget.
  • More than 134,000 New Mexicans are employed as a result of oil and natural gas production, which is over 15% of the total state population.
  • Oil and gas funds the construction of new roads and highways in New Mexico through direct excise taxes, on top of the general fund budgets appropriated to state and local communities.
  • The Oil & Gas industry funds public safety, which helps New Mexico put more police, firefighters, and first-responders on the streets, keeping our communities safe.
  • New Mexico’s schools receive more than $1.4 billion each year to support students. That funding, alone, pays the salaries of one-third of our teachers.

Global Benefits

The Link Between Fossil Fuels & The Human Condition

Climate Deaths Decrease & Fossil Fuel Development

All graphics, information & references courtesy Alex Epstein:  https://energytalkingpoints.com/thanksgiving-2021/

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Benefits of Oil & Gas

Industry Benefits

In the News

Reference

Links

Industry Benefits In the News

Why Support Fossil Fuels? An Astute Answer From An Affable Guy
Mike Rowe Facebook Post (June 26, 2022) - IPANM appreciates the following Q & A posted by "Dirty Jobs" Host
Thank You SE New Mexico For Your Partnership With Independents!
Hobbs Sun (June 26, 2022) by IPANM Executive Director Jim Winchester - Thanks to the thousands of hardworking men and
Epstein: More Fossil Fuels Makes Us Safer From Climate
EnergyNow.com (June 22, 2022) - What we’ve been told about fossil fuels is exactly backward. We are told that we
Study: Natural Gas “Essential” to US Net-Zero Future
Energy Monitor (March 2, 2022) - Natural gas, its utilities and its delivery infrastructure will be essential for the US
Lucid Advancing CCS Project for Permian Natural Gas Processing
Natural Gas Intelligence (Jan. 11, 2021) - Permian Basin natural gas processor Lucid Energy Group has been given the green
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Hot Topics

Wildlife in the Oilfield
Industry Benefits
Legal Challenges
Sign Up for Updates

 

Members

Join IPANM
Member Benefits
Map of Members
Password Reset

 

News

Oil & Gas Newsroom
Member Newsroom
Newsletters
Regulatory Updates

Annual Meeting

2025 Meeting Info
2025 Golf Outing
2025 Sponsors
Sponsor An Event

 

 

 

 

About IPANM

Who We Are
Our Board
Administrative Staff
Contact Us

Web Tools

Calendar
Memberzone
BillTrack 50
Facebook Page

Independent Petroleum Association of New Mexico

IPANM Administrative Offices
P.O. Box 6101, Roswell, New Mexico, 88202
Bus. - 575-622-2566 | Fax. - 575-622-2566

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Independent Petroleum Association of New Mexico

IPANM Administrative Offices
P.O. Box 6101, Roswell, New Mexico, 88202
Phone 575-622-2566

Search

Website designed by Siarza Social Digital

Natural Gas

WTI Crude Oil

Mike Rowe Facebook Post (June 26, 2022) – IPANM appreciates the following Q & A posted by “Dirty Jobs” Host Mike Rowe.

Mike Rowe Q & A

Hobbs Sun (June 26, 2022) by IPANM Executive Director Jim Winchester –

Thanks to the thousands of hardworking men and women working in the oil & gas industry in the New Mexico Permian Basin, our great state is well positioned to continue to be an energy leader in America. We’re now #2 in oil production and #8 in natural gas production of all fifty states. This directly translates into revenues that are used to improve all walks of life in New Mexico. So, to those industry workers and to the many others who support our industry in Hobbs and SE New Mexico, we thank you for your support!

Thank You SE New Mexico For Your Partnership With Independents!

EnergyNow.com (June 22, 2022) – What we’ve been told about fossil fuels is exactly backward. We are told that we should be afraid of continuing fossil fuel use because it will make the world unlivable. In fact, fossil fuel use has made the world a better and better place to live, including safer from climate, for the last two centuries—and can continue to do so going forward. What will make the world unlivable for more and more people, as we are seeing now, is the attempt to eliminate fossil fuels—which necessarily leads to energy crises and economic crises. The only way out of this crisis is for America—and the world—to embrace a Fossil Future.

Testimony: “How the Biden Administration and the Global Anti-Fossil-Fuel Movement Caused an Energy Crisis and Inflated Our Cost of Living”- Alex Epstein

Energy Monitor (March 2, 2022) – Natural gas, its utilities and its delivery infrastructure will be essential for the US net-zero transition, announced the American Gas Association (AGA), a Washington, D.C.-based trade organisation, in February. It released a plan and analysis setting out why.

The report, titled Net-Zero Emissions Opportunities for Gas Utilities, suggests a nationwide strategy to leverage the benefits of gas technologies and distribution infrastructure.

Study: Natural Gas “Essential” to US Net-Zero Future

Natural Gas Intelligence (Jan. 11, 2021) – Permian Basin natural gas processor Lucid Energy Group has been given the green light to advance a carbon sequestration project at its Red Hills Complex in Lea County, NM.

Lucid, sponsored by entities of Riverstone Holdings LLC and Goldman Sachs Asset Management, said the Environmental Protection Agency approved its monitoring, reporting and verification (MRV) plan to store carbon dioxide (CO2) from the Delaware sub-basin complex.

Once it gains approval from the Internal Revenue Service to use CO2 sequestration tax credits under Section 45Q, the Dallas-based firm said the carbon capture and sequestration (CCS) project would permanently store emissions in existing and permitted disposal wells.

“Since our entry to the Delaware Basin five years ago, Lucid has targeted investments in large-scale gas treating assets, which empower our customers to develop highly economic drilling locations” with associated gas, CEO Mike Latchem said. The company is “the perfect candidate” to develop the project in the Permian “by simply modifying and expanding our existing operations.”

Lucid Advancing CCS Project for Permian Natural Gas Processing