Joe Biden’s Pause on Oil Cause for Big Concern in New Mexico

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 public programs hinges on the industry’s success. Top Republicans in the state as well as local leaders in communities that border the Permian Basin — one of the most productive regions in the U.S. — say any moves to make permanent the suspension would be economically devastating for the state. Half of New Mexico’s production happens on federal land and amounts to hundreds of millions of dollars in royalties each year.

GOP leaders say permanent suspension would be economically devastating for a state that voted for Biden over President Trump just this past November.
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