Alva Review-Courier -

Study: New Mexico's oil and gas collapse could last years

 

October 25, 2020



CARLSBAD, N.M. (AP) — Economic analysts are warning that New Mexico could be unable to rely on its oil and gas industry as the market continues to struggle amid the COVID-19 pandemic.

Lease fees, royalty payment and taxes from oil and gas operations accounted for about 30% of the state's budget in recent years, according to a study from the Institute for Energy Economics and Financial Analysis. The research also found that the industry provided about a quarter of the state's operations budget last year.

But with the price per barrel of oil declining, the study suggests the financial suppo...



For access to this article please sign in or subscribe.



 

Reader Comments(0)

 
 

Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020