The second-largest oil-producing U.S. state, New Mexico, has seen record oil and gas output and revenues in recent years on the back of the booming activity in the Permian, the top U.S. shale field.
New Mexico has driven the Permian’s oil production growth over the past two years. For example, two counties in the southeastern corner of the state, Lea and Eddy, accounted for 29% of all crude oil production in the Permian Basin in the first half of 2023, the EIA said last year, citing data from Enverus. As New Mexico ’s oil and gas production surges, so is the revenue from the industry for the state coffers.
“Current policies are not reducing overall emissions in a persistent manner, leaving the state projected to emit 21% more climate pollution over the course of the decade than if it were steadily reducing emissions in line with the latest science.” But the oil and gas sector, responsible for a lot of these emissions, is creating a bonanza for New Mexico’s state revenues. In 2023, the industry provided $13.9 billion in state and local revenues for New Mexico, with $7.
Mexico Oil Oil Production Crude Oil Supply Emissions
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