OPINION: Oil and gas revenue — the lifeline behind New Mexico's progress

Our state is a special place to live and work. In recent years, we’ve seen opportunities that create multigenerational benefits: The Opportunity Scholarship that has increased New Mexicans’ access to higher education and trade schools; the potential of child care for all; even dollars that ensured those on the Supplemental Nutrition Assistance Program would not go hungry when the benefits paused. Strengthening the middle class and lifting those out of poverty through affordable, sustainable energy options. Lending a helping hand is something New Mexicans are proud of, and this state can provide that leg up solely because of the oil and gas industry.

What would New Mexico look like without oil and gas revenue? No $1.8 billion for public schools. No $745 million for Medicaid. No $550 million for school construction. No $9.6 billion Early Childhood Trust Fund securing our youngest learners’ future. No emergency funds. These numbers aren’t a scare tactic — they’re the reality if we lose the backbone of our economy.

In fiscal year 2025, the oil and gas industry generated $13 billion for state and local governments, nearly half of the state’s General Fund. These dollars aren’t abstract — they translate directly into classrooms, hospitals and family kitchens. Forty-one percent of all operating revenue in New Mexico came from oil and gas. Without it, the lights go out on essential services.

Oil and gas funded $2.4 billion in education spending, including $1.8 billion for K-12 schools and $640 million for higher education. That’s teachers in classrooms, Opportunity Scholarships for college students and resources for rural schools. In Bernalillo County alone, oil and gas supported $758 million for education. Lea County? $89 million. Without this revenue, you would see massive cuts to our already burdened education system.

Oil and gas revenue covered $745 million of Medicaid, unlocking $2 billion in federal matching funds. That means health care for thousands of low-income families. Without oil and gas, those dollars — and that care — disappear.

Oil and gas funded $1.9 billion in capital outlay projects, including $550 million for school construction and renovation. Roads, hospitals and public safety facilities across the entire state exist because of this revenue.

The Early Childhood Trust Fund — now at $9.6 billion, 90% funded by oil and gas — is a game-changer for generations to come. Without oil and gas, the fund doesn’t exist.

When federal SNAP aid paused this fall, New Mexico stepped in to provide $192 million in state dollars, generated by oil and gas production, to keep families from going hungry. Without oil and gas, thousands of New Mexicans would have faced empty plates.

If lawmakers want to reduce reliance on oil and gas, the answer isn’t cutting the very revenue that funds our schools, health care and food security. The answer is expanding the pie — building a stronger, more diverse economy through real economic development. That means both supporting our current business base and investing in industries that create more high-paying jobs, support added innovation and attracting businesses that can complement — not replace — the vital role oil and gas plays today.

We are fortunate to live in a state with vast natural resources — wind, solar, precious metals, oil and gas, and most importantly our people. Oil and gas is the foundation of our state budget. There is not another industry that can match the revenues that our state has come to enjoy. Without the industry we lose the very resources that are moving us forward. The loss of oil and gas is a loss to every single New Mexican.

Missi Currier is the president and CEO of the New Mexico Oil and Gas Association.