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Surging energy production in the Permian Basin of West Texas and Southeastern New Mexico has meant a financial windfall for the area and the United States as a whole, but a lack of infrastructure is holding back the region says a new report from the Permian Strategic Partnership.
State revenues from oil and gas production in New Mexico set a new record last year at more than $3 billion, helping to fund investments in education, public services, and infrastructure throughout the state.
New Mexico state officials are proud of their state’s oil and gas industry—and the benefits that brings to education and infrastructure. This was a recurring theme at the New Mexico Oil and Gas Association (NMOGA)’s annual meeting in Santa Fe, where state officials praised the industry’s growth and contributions.