As the 2024 New Mexico Legislature sprints into the second half of its one-month session, four bills that directly affect the oil and gas industry hang in the balance. Those bills deal with royalty rates, a new fund for the state’s Oil Conservation Division, a revamp of the state’s key oil and gas law, and funding for the enforcement agencies in the coming year.
Many more bills this session address the effects of the fossil fuel industry. They represent millions of dollars the state will spend this year and into the future to remediate the ever-increasing damage wrought by climate change.
