Meanwhile, in New Mexico, the local press is reporting that the oil and gas industry in New Mexico could drill for almost two decades with no federal leases.
A study from the Conservation Economics Institute, commissioned by the Natural Resources Defense Council found that while New Mexico had the least unused federal acreage leased by the industry compared with other states analyzed in the study, it still has decades until oil companies run out of public land to drill upon.
In its research, the institute compared major oil-producing five states in the inter-mountain west region – New Mexico, Wyoming, Utah, Colorado and Montana – which hold 86 percent of federal leases in the U.S.
About 426,266 acres of federal land in New Mexico is leased but unused, per the study, compared with 4.9 million acres in Wyoming, 1.8 million in Utah and about a million each in Colorado and Montana.
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