Presidential candidate Joe Biden's proposal to ban new hydraulic fracturing on federal land could devastate New Mexico's oil and natural gas industry and economy, as state and federal lands accounted for about 90% all 2019 production on New Mexico's side of the Permian Basin, according to the New Mexico Oil & Gas Association. Moreover, oil and gas funds 39% of the state's budget, NMOGA said, and a recent analysis from the American Petroleum Institute suggests about 62,000 jobs could be lost in New Mexico alone if a ban was imposed.
Fracking ban on federal land would crush N.M. drillers
Sign up for API SmartBrief
Oil and natural gas industry news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.