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Oil and gas was a precious commodity in New Mexico for decades, generating billions of dollars in revenue for the state each year.
Amid the COVID-19 pandemic, the value of fossil fuels to New Mexico remained unchanged as the State Land Office reported continued high levels of production and revenue from extraction on state land.
Land continued to be leased to operators in monthly sales as operations focused on the Permian Basin region to the southeast.
But New Mexico Commissioner of Public Lands Stephanie Garcia Richard said the resource was “finite” and would run out eventually.
To her, that meant New Mexico’s economy and use of its State-owned public land needed to diversify.
Oil and gas was a precious commodity in New Mexico for decades, generating billions of dollars in revenue for the state each year.
Amid the COVID-19 pandemic, the value of fossil fuels to New Mexico remained unchanged as the State Land Office reported continued high levels of production and revenue from extraction on state land.
Land continued to be leased to operators in monthly sales as operations focused on the Permian Basin region to the southeast.
But New Mexico Commissioner of Public Lands Stephanie Garcia Richard said the resource was “finite” and would run out eventually.
To her, that meant New Mexico’s economy and use of its State-owned public land needed to diversify.
The Daily Yonder Timber, Condos, Glamping? States Debate Land Use to Fund Schools With diminishing revenues from traditional use of trust lands, states turn to alternatives like aggressive real estate development, stoking fears of unwelcome changes to long established communities.
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This stand of state trust land forest near Washington’s Merrill Lake is logged to provide revenue for schools. (Source: The Pew Charitable Trusts)
Checkerboarded across the landscape of the American West are thousands of parcels of state-owned land that collectively cover an area larger than North Dakota. They include vast swaths of forest and prairie, fracking wells, coal mines, luxury housing developments, parking lots, cell towers and solar panels.