Let’s talk oil and gas and the budget

Let’s Talk New Mexico, January 25, 8a: New Mexico is once again seeing record revenues as lawmakers meet in Santa Fe to create a budget. That’s in large part due to booming oil and gas production. The state is the second-largest oil producer in the country and among the top 10 in natural gas production. But a number of bills in the legislative session would make big changes if they pass. That includes updates to the Oil and Gas Act, such as setbacks for new wells from homes, schools, hospitals, and parks, increased bonding fees so the state isn’t stuck with abandoned wells, and increased civil penalties for major violations.

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