Swickard: Come now to the aid of our oil patch

© 2014 Michael Swickard, Ph.D. - Now is the time for all New Mexicans to come to the aid of our oil patch. The New Mexico oil patch has sustained us in New Mexico for decades both in products we use and as the prime financial support of our public education system. Unfortunately, with the global drop in prices our oil patch is going into a hard time.
      New Mexico has been politically pushed to fund green energy projects which do not have the generation density to be cost-effective and useful. Our oil patch has long funded the public schools, the green energy projects fund the politicians. We need public schools more than we need politicians. We will eventually abandon all of the green projects when we run out of money we wish to spend on politics.
      However, the oil patch is the real deal for New Mexico. Therefore in this price drop we New Mexicans need to recognize the opportunities an oil price war provides our state. When the New Mexico oil patch prospers, so do all New Mexicans.
       This war for market share has happened before. And therein is a lesson: Congressman Steve Pearce had a company in the oil patch when oil prices declined to the point the oil patch essentially shut down. That is where we are headed so we need to take a page from Pearce's playbook.
      Steve Pearce and wife Cynthia had a well service business with dozens of employees when an oil price fluctuation stalled production in New Mexico and West Texas. They went against conventional wisdom and keep all of their employees on the payroll unlike other companies who quickly trimmed their workforce because there was no work.
      Those workers who were let go went on unemployment and then drifted into other lines of work. Steve and Cynthia's workers kept busy working in the company. They based their extraordinary risk on their personal faith and their sense of the value of their workers.
      Early on they decided to go to the very ends of their savings. It was close. Within a couple months of when they would have to shutter the company the oil patch suddenly lurched to life because prices shot up. Their crew was ready and able to work the first day those services were needed. For that giant bet on the future, there was quite a reward for Steve and Cynthia as the only company ready the first day the oil patch revived.
        The future of our public schools and much of our state's economy hangs in the balance. For the public schools there is nowhere else to make this money. Come now to the aid of our oil patch and we all will prosper together. Read full column



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