I just can’t help but laugh and say good job Joey the more I read about that’s going to happen to New Mexico if the Biden moratorium on new oil drilling, natural gas and drilling permits extends for his four years, rather than the initial 60 days. All totaled, if these policies remaining in effect, New Mexico will lose at least 36,217 jobs, $22.1 billion in GDP, $9.8 billion in wages and $6.3 billion in tax revenue over the next four years because of Biden’s draconian practices.
| Study finds that New Mexico will lose in a loss of “36,217 jobs, $22.1 billion in GDP, $9.8 billion in wages and $6.3 billion in tax revenue” over the course of four years under Biden rules |
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I feel absolutely no sympathy for New Mexico. It’s basically a deep blue state that voted for Biden by 10 points, has a communist Democrat governor and two communist Senators. The only thing I can do is point and laugh at New Mexico for getting what they deserve and cheering on Joe Biden as he ruins more blue states. Go Joe and Kamala!
The majority of New Mexico’s production takes place on federal lands. Oil and gas companies pay hundreds of millions in royalties each year to frack. The concern with the new order, however, is that energy companies could move to Texas where there is no reliance on federal lands to obtain energy.
“I think we’re going to see companies choosing not to invest in New Mexico and take their jobs and drilling to Texas just 3 miles away,” New Mexico Republican Party Chairman Steve Pearce said. “They can just scoot across the border where they don’t have federal lands.”
Royalties collected from fracking in the state had a price tag of $2.3 million in 2020, up 48 percent over 2019. The natural energy industry is responsible for 100,000 direct and related jobs in New Mexico.
A study conducted by the University of Wyoming found that New Mexico would lose $207.7 billion in GDP over the next 20 years if the Biden administration’s rule remains in effect. That would result in a loss of “36,217 jobs, $22.1 billion in GDP, $9.8 billion in wages and $6.3 billion in tax revenue” over the course of four years under Biden, the Fairfield Sun Times reported.
Interestingly enough, Biden carried the state by 10 percentage points. The state remains heavily Democratic despite the Democrats’ repeated calls to end fracking, the state’s biggest industry.