State Senator Lee Cotter Op-Ed

Commentary by State Senator Lee Cotter, District 36 - Not a Prediction, a Guarantee: State Loses Greatly if SB 547 Ruins New Mexico’s Oil and Gas Industry

     This will do it. SB 547 will ruin New Mexico’s oil and gas industry. It is more than a prediction, it is a guarantee. SB 547 prohibits the oil and gas industry from being able to produce the tax revenue our state so heavily depends on. The industry provides upwards of 30% of the revenue our state relies on to fund schools, roads, public safety and healthcare.

     SB 547 prohibits hydraulic fracturing in horizontally drilled wells. Currently, a vast majority of the oil and gas comes from hydraulic fracturing. If this technology is banned in horizontal wells by SB 547, the bill kills the economic future of New Mexico. SB 547 will eliminate nearly all of the drilling in New Mexico and any future drilling. New production will not take place. Companies with high paying jobs will close down, companies with even higher paying won’t consider relocating here. There will be reduced future production to tax to pay for schools, roads, public safety and healthcare.

     The bill, sponsored by Senator William Soules of Las Cruces, is being presented by a Senator with little knowledge of the oil patch areas of New Mexico. I appeal to those New Mexicans who understand that New Mexico cannot afford to lose these revenues. Our state has barely begun a recovery from the recent hard times and we cannot afford to lose any revenues now or in the future. Consider the number of private industry high-paying and middle income jobs that will be lost if this industry is shut down. That takes personal income tax right out of the state's coffers as well.

     This bill is on the calendar for Senate Conservation. If it passes, kiss goodbye the 30,000 high paying jobs directly attributed to oil and gas activity in the state. Kiss goodbye funding for schools, roads, public safety and healthcare in the state. Kiss goodbye our economic future.
Senator Lee S. Cotter - Room 416C State Capitol Building

State Senator Lee Cotter Op-Ed