American Oil and Gas Reporter - November 2019 - 68

ConventionCoverage: New Mexico Oil & Gas Association
Severance Tax Fund was up 73%. Combined distributions from those two funds
have grown from $371 million in 1989
and $401 million in 1999 to $713 million
in 2009 and $1.009 billion this year.
"This year's permanent fund benefits
will cover more than 14% of the total
state budget," Moise stated. "If those
funds weren't there, every household in
New Mexico would pay an additional
$1,250 a year in taxes. That amounts to
about $500 for every man, woman and
child in the state just to maintain our
state services."

Minerals and Natural Resources to cut
greenhouse gas emissions from the oil
and gas industry to at least 45% below
2005 levels by 2030.
"In response, NMOGA made its position clear," Flynn said. "We are committed to working with the governor and
her administration proactively to reduce
emissions while at the same time continuing to grow our economy."
Drawing on the American Petroleum
Institute's Environmental Partnership, he
said, NMOGA developed a methane mitigation roadmap that identifies the four
most important sources of emissions and
provides specific regulatory suggestions
and considerations based on proven industry experience.
And it is working, Flynn maintained.
Based on U.S. Environmental Protection
Agency data, New Mexico's methane
emissions from oil and gas production
dropped 51% from 2011 to '17 while
combined oil and gas production increased
more than 31%, he said.
"I have no doubt New Mexico is going
to get methane regulations right," Governor

Collaborative Regulation
While its economic contributions are
helping to move the state forward, the
industry never loses sight of its environmental responsibility, Flynn asserted, declaring: "There is nothing we value more
than safeguarding the people and places
we care about the most."
As a case in point, he recalled Governor Lujan Grisham's executive order earlier this year calling on the state's departments of Environment, and Energy,

Lujan Grisham expressed.
"Why? Because you are at the table.
Because I am using your innovation and
technology," she told NMOGA.
Another reason the state will succeed,
she went on, "is because we aren't going
to do one-size-fits-all."
One-size-fits-all is the easy way to
regulate, and government likes easy, Lujan
Grisham acknowledged.
"But I am not going to do easy," she
vowed. "That isn't the way to do effective
policymaking. With your expertise and
help, we are going to figure out how we
can (promulgate regulations) in a meaningful way so that we are doing it for
everyone."
State Lands
Lujan Grisham also assured NMOGA
that the spirit of collaboration extended
to the agency heads in her administration,
saying her environment and energy secretaries would continue to listen to the
industry and partner whenever possible.
State Land Commissioner Stephanie
Garcia Richard attested to the veracity of

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68 THE AMERICAN OIL & GAS REPORTER



American Oil and Gas Reporter - November 2019

Table of Contents for the Digital Edition of American Oil and Gas Reporter - November 2019

Contents
American Oil and Gas Reporter - November 2019 - Intro
American Oil and Gas Reporter - November 2019 - 1
American Oil and Gas Reporter - November 2019 - 2
American Oil and Gas Reporter - November 2019 - Contents
American Oil and Gas Reporter - November 2019 - 4
American Oil and Gas Reporter - November 2019 - 5
American Oil and Gas Reporter - November 2019 - 6
American Oil and Gas Reporter - November 2019 - 7
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https://www.nxtbook.com/nxtbooks/aogr/202404
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