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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

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Industry Benefits In the News

New Mexico Breaks Record in Oil and Gas Revenue in FY21
Albuquerque Business First (Dec. 3, 2021) -  New Mexico’s oil and gas industry has shown no signs of slowing down,
Rep. Ryan Lane (R): Operators Should Stand Proud
IPANM (Oct. 29, 2021) -- Freshman New Mexico State Representative Ryan Lane (R - District 3 - San Juan County)
Oil & Gas Revenue Fuels Education
Santa Fe New Mexican (July 10, 2021) - In a small town in the middle of the Gila Wilderness, a
Consider These Natural Gas FACTS!
While many extremists seem transfixed banning fossil fuels, they overlook the obvious. The increased use of natural gas is the
NM Oil Production Hits Another Record in 2020
ABQJournal (March 20, 2021) — New Mexico’s oil patch is still gushing, with production growing another 10.5% in 2020 to
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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

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Albuquerque Business First (Dec. 3, 2021) –  New Mexico’s oil and gas industry has shown no signs of slowing down, despite a pandemic that has affected nearly every industry.

A new report from the New Mexico Tax Research Institute and New Mexico Oil and Gas Association this past week revealed that the industry produced a record-breaking $5.3 billion in revenue in fiscal year 2021 for state and local governments — an increase of $557 million from the previous fiscal year.

“Historic revenue equals historic opportunity, and that is great news for teachers and students, critical first responders and health care workers, and each and every New Mexican across this state,” NMOGA president and CEO Leland Gould said in a prepared statement.

The record-breaking fiscal year in the oil and gas industry included an increase in general fund money for the state.

The $2.96 billion raised for the general fund in FY21, which is typically used to fund public institutions and other state projects, was $152 million higher than in FY20. The money from oil and gas makes up 35% of the general fund, according to the report.

New Mexico Breaks Record in Oil and Gas Revenue in FY21

 

 

 

 

IPANM (Oct. 29, 2021) — Freshman New Mexico State Representative Ryan Lane (R – District 3 – San Juan County) of Aztec says the Oil & Gas industry exists to help improve life, and is encouraging all operators to take that message to the public. Lane made the comments during Friday’s San Juan Basin 100th Anniversary Energy Conference in Farmington at San Juan College. Lane’s poignant address challenged oil operators to change the narrative regarding the oil & gas industry.

“You are not the enemy of the poor and underserved. Instead, you are the ally of the poor and underserved. Natural gas is one of the cheapest ways to heat your home. That translates into more money for groceries and other basic necessities. You should be proud of that.”  — Rep. Ryan Lane (R)

At IPANM’s request, Rep. Lane has provided a copy of his remarks for all to read. Our thanks to Rep. Ryan Lane for his strong support of Oil & Gas in New Mexico.

Rep. Ryan Lane’s Oct. 29, 2021 Remarks

Santa Fe New Mexican (July 10, 2021) – In a small town in the middle of the Gila Wilderness, a class of rambunctious 4- and 5-year-old pre-K students released 32 healthy butterflies just before the end of the school year. It was the culmination of several weeks of observation and learning about the butterfly life cycle.  It was also a lesson in patience, breathtaking growth, and transformation — fitting both for the year we had and for the transition to kindergarten the little ones were experiencing.

Oil & Gas Revenue Fuels Education

While many extremists seem transfixed banning fossil fuels, they overlook the obvious. The increased use of natural gas is the reason why emissions have fallen across the United States. Natural Gas is a great low carbon source of energy that is easily utilized and affordable for all. According to the EPA, carbon emissions have fallen to their lowest levels since 1983 as coal-fired power plants are being replaced by gas-fired generators and renewable electric sources.

✔️ Electric power 36% usage rate: Used to generate electricity produced by the electric power sector.
✔️ Industrial 33% usage rate: Used as fuel for process heating, heat for power systems, heat to produce chemicals, fertilizer, and hydrogen.
✔️ Residential 16% usage rate: Used to heat buildings, water, cook, and dry clothes.
✔️ Commercial 11% usage rate: Used to heat buildings, water, operate refrigeration, cooling equipment, cook, dry clothes, outdoor lighting.
✔️ Transportation 3% usage rate: Used as a fuel to operate compressors that move natural gas through pipelines and as a vehicle fuel in the form of compressed natural gas and liquefied natural gas.

ABQJournal (March 20, 2021) — New Mexico’s oil patch is still gushing, with production growing another 10.5% in 2020 to a record 366.6 million barrels, despite the pandemic.

But growth last year was markedly slower than in 2018 and 2019. And going forward, industry leaders say the record booms of the last five years will be hard to sustain, given the regulatory uncertainty now engulfing fossil fuel production, society’s accelerating march to a low-carbon economy, and a new producer emphasis on slower growth that focuses more on profitability than unbridled expansion.

Read full article here.