NM energy key to future - Albuquerque Journal

NM energy key to future

Per an Oct. 2 article, Bloomberg News named New Mexico the “top performing state economy” since President Trump took office. Jim Peach, a professor emeritus of economics at New Mexico State University, theorized the state’s “recent upswing in extractive industries like oil and gas” was a driving reason why.

He’s right.

Record output and energy infrastructure investment allowed lawmakers and Gov. (Susana) Martinez to allocate more funding to programs that sustain roads, schools and public safety. Energy has also given the state strong cash reserves, a reversal from a year ago, when lawmakers faced a ballooning budget gap.

State leaders have taken steps to continue this, rejecting county ordinances that would have implemented drilling setbacks – serving as de facto bans on gas extraction – and refusing to pass a redundant bill that would have restored a state agency’s ability to penalize producers, even though protocols like shutting in wells, denying permits and banning infringers already exist.

Such extra steps are unnecessary and only hurt New Mexico. Costly red tape and an unpredictable regulatory climate could force producers to consider whether staying here is a good idea or if fleeing next door to pastures like Texas and tapping the Permian Basin there is better.

That’s why voters must elect leaders, regardless of party affiliation, who’ll continue to support sensible energy solutions and infrastructure that will grow the economy further, especially since the state remains behind in other economic rankings like poverty, income and child wellbeing, forcing families and small businesses to look to states like Colorado and Utah for better opportunities when new ones are springing up here.

And thanks to safer technology and stringent regulations, America remains a leader in environmental stewardship. Case in point: The latest BP Statistical Review of World Energy said the U.S. reduced carbon emissions by 0.5 percent, the most of any major country, in 2017, while the economy grew nearly 3 percent.

Why risk taking away opportunity for New Mexicans when energy resources are helping produce jobs and energy more safely, and spearhead an economic turnaround we haven’t seen in decades?

Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

Nativo Sponsored Content

taboola desktop


Interactive, educational 'Jurassic Quest' comes to Expo New Mexico
'Jurassic Quest' features more than 100 ... 'Jurassic Quest' features more than 100 life-like dinosaurs, dinosaur-themed rides, live dinosaur shows, interactive science and art activities, a 'Triceratots' soft play area for ...
'Euphoria' is a crackling live wire of a series
Sam Levinson's brilliant adaptation of the ... Sam Levinson's brilliant adaptation of the Israeli TV series of the same name, season two of 'Euphoria' is the polar opposite of a comfort-viewing ...
Catch a Fraggle on Apple TV+'s reboot of Jim ...
Join Gobo, Red, Wembley, Mokey, Boober ... Join Gobo, Red, Wembley, Mokey, Boober and new Fraggle friends on hilarious, epic adventures about the magic that happens when we celebrate and care ...
Free throws no longer a weapon for Lobo men
Six weeks ago, the Lobos were ... Six weeks ago, the Lobos were a different team. Gethro Muscadin was the team's 6-foot- ...
24-2 UNM hockey team mixes academics, pucks, jobs
Jarrod Ronquillo has recorded 32 goals ... Jarrod Ronquillo has recorded 32 goals and 40 assists this season for the 24-2 University of New Mex ...
Women's hoops: UNM braces for UNLV in 1-2 league ...
Las Vegas, Nevada, seems like a ... Las Vegas, Nevada, seems like a fitting venue for Thursday's high-stakes women's basketball showdown ...
First Tee Four Corners' Yost earns national PGA honor
Featured Sports
Thomas Yost, the teacher of life ... Thomas Yost, the teacher of life skills and character values at First Tee Four Corners in Kirtland, N.M., is the recipient of the 2021 ...
Sports Speak Up! Disappointment in Lobo men's hoops, football ...
Featured Sports
GIVE UNM'S players credit for their ... GIVE UNM'S players credit for their effort. But too bad that Richard Pitino isn't going to mix in any zone defense for his undersized, ...
AMC series based on Tony Hillerman novels due sometime ...
A third and a fourth season ... A third and a fourth season will be coming for 'All Creatures Great and Small.'