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New Mexico’s revenue from oil and natural gas production totaled $2.8 billion in fiscal year 2020, which is 33.5% of the $8.4 billion the state spent in 2020. However, New Mexico cannot count on this level of revenue from oil and gas in the future as the world must and will transition away from fossil fuel use to avoid disastrous climate change.
Over 100,000 gas and oil wells have been drilled in New Mexico. If left unplugged, these wells will leak methane and other greenhouse gases into the atmosphere for hundreds of years. As a powerful greenhouse gas, methane is an important cause of our climate crisis. Also, the volatile organic compounds emitted from these production sites are linked to serious health problems, including respiratory illness and pregnancy risks such as premature birth.
The U S Has a Big Methane Problem With Old Oil Wells
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Hearing | Committee Activity | The House Committee on Natural Resources
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