Biden's pause on oil cause for big concern in New Mexico | KOB 4

Biden's pause on oil cause for big concern in New Mexico

Biden's pause on oil cause for big concern in New Mexico

The Associated Press
Updated: January 23, 2021 09:36 AM
Created: January 23, 2021 09:24 AM

ALBUQUERQUE, N.M. (AP) — President Joe Biden's 60-day moratorium on new oil and natural gas leases and drilling permits is prompting widespread concerns in New Mexico, where spending on education and other government programs hinges on the industry's success.

About half of production in the state happens on federal land and amounts to hundreds of millions of dollars in royalties each year.

Republicans and some community leaders say any moves to make permanent the suspension would be economically devastating.

Congressional members from other western states also have concerns, saying the ripple effects of the moratorium will hurt small businesses already struggling because of the pandemic.


(Copyright 2021 by The Associated Press. All Rights Reserved.)

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