Most New Mexicans are well aware that oil and gas generates close to 40% of the New Mexico budget in any given year. Of course, the industry is highly competitive and thrives on the types of efficiency and cost-cutting inherent in any free market enterprise.
Among other things that means replacing workers with new technologies. This is good economics as the remaining workers tend to be better-trained and higher paid. It also means less “grunt” work and improved safety as well as lower costs.
But good economics is not good politics as oil and gas regions of New Mexico are badly-outnumbered politically in New Mexico. And, we know that once that oil and gas money hits government it is not only misused, but the beneficiaries tend to forget its provenance.
I agree with you although not for the same reasons. O&G does generate 40% of NM’s budget, but the politicians in NM do an awful job w/ that money. NM’s O&G industry WOULD do itself a favor if it hired more people b/c they could compete electorally w/ big “blue” cities.
— Paul Gessing (@pgessing) July 9, 2021