OPINION: Energy policy is on the ballot in NM, and the stakes couldn't be higher

The Albuquerque Journal ^ | October 27, 2024 | Larry Behrens / Power The Future

[CedarDave]

It’s the ultimate paradox: New Mexico may be the richest poor state in the nation.

Our state is blessed with incredible natural resources, particularly oil and natural gas, yet it suffers from some of the highest poverty rates. While the state’s government enjoys record-high revenues, its families aren’t necessarily seeing the same benefits. That’s why it’s important to remember this election will be pivotal in determining whether this imbalance will be corrected or exacerbated.

State government coffers continue the trend of overflowing as they have for years. In 2019, Gov. Michelle Lujan Grisham’s first year in office, New Mexico’s budget was just over $7 billion — an increase of more than 11% from the previous year. ... the [current] state’s budget has ballooned to $10.2 billion ...

Despite New Mexico’s economic windfall, the state remains one of the poorest in the country. From 2020 to 2022, New Mexico had the highest poverty rate in the nation.

The swelling budgets in Santa Fe are fueled almost entirely by the state’s biggest industry: oil and natural gas. In 2023 alone, oil and gas contributed $4 billion in revenue, a figure that accounts for 40% of total state spending. Despite this massive contribution, the industry remains under constant attack from political leaders ...

There is a glaring disconnect between the political class and the reality facing everyday New Mexicans. Our elected officials reap the rewards of a booming oil and gas sector in one breath while publicly demonizing it in the next.

Voters need to decide whether they want leaders willing to work with the oil and gas industry to ensure economic growth or those who seek its dismantling in the name of a green utopia. It’s a decision that could have profound consequences, not just for today, but for future generations.

[CedarDave]

For New Mexico energy policy is on the ballot: The outcome will determine the direction of the state for years to come. This year you’re also voting for New Mexico’s energy future. Make sure you choose wisely; the stakes couldn’t be higher.

[CedarDave]

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[packagingguy]

Albuquerque is Memphis in the desert.

[rktman]

Praying NM can do well. Have an awesome Sunday Cedar Dave.

[BenLurkin]

New Mexico’s budget was just over $7 billion — an increase of more than 11% from the previous year. ... the state remains one of the poorest in the country.

Splash taxes. Problem solved.

[cnsmom]

Maybe Doug Bergum and DJT could work some magic.

[No name given]

Here’s hoping.

[crusty old prospector]

For those who don’t know, New Mexico is #2 in US oil production, now surpassing the deep water Gulf of Mexico.

https://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_m.htm

[wjcsux]

“ Albuquerque is Memphis in the desert.”

Yeah, pretty much.

[FLT-bird]

Its amazing to me that New Mexicans vote for economic suicide. They have enough oil and gas to have a booming economy and to make themselves significantly wealthier if they would take the shackles off and fully support fracking. Yet they don’t. They do the exact opposite.

[DIRTYSECRET]

We will lose Herrera’s seat. NM. out of sight out of mind.

[packagingguy]

I live in Memphis and my brother lives in Santa Fe and have visited NM a lot.

[Combat_Liberalism]

Mark Halperin predicted Trump would visit NM because the latest poll had him trailing Harris by 4. Sure enough, Trump will barnstorm into Albuquerque on Thursday.

Nobody saw Bush 43 taking NM in ‘04. Nobody thinks Trump can win NM in ‘24, but don’t be surprised if he does. People are pissed. Trump is a protest vote for many millions who have never voted before. Latinos do not like Kamala.

[fishtank]

A la vey! Y no!!!

Si se puede!

Latinxos por los democraticos!!!

Mi abuelo en la valle always voted Democratic!!

(That’s about the typical Hispanic NM voter thought process…. In the past).

Hopefully strangling grocery prices will bring some sanity.

[shanover]

Incredibly wealthy state in petroleum reserves run like the pathetic state of NJ.

[Jane Long]

Well, Pres Trump’s Albuquerque rally couldn’t come at a better time!!

(10/31)

[Jane Long]

En el valle.

;-)