Consumer Report: New Mexicans Saved over $3.4 Billion over 10 Years Thanks to Low Priced Natural Gas

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites.
Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. For avoidance of any doubts and to make it easier, you may consider any links to external websites as sponsored links. Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Thanks to increased production and safer, state-of-the-art technologies “ which together have decreased the price of natural gas “New Mexico families and businesses saved more than $3.4 billion between 2006 and 2016, according to a report from Consumer Energy Alliance (CEA).

Per the report, titled Energy for New Mexico, residential users saved nearly $1.6 billion and commercial and industrial users saved more than $1.86 billion. The report is being released today at a CEA Affordable Energy Forum at Rio Bravo Brewing Company in Albuquerque.

The analysis details how the national, and local, energy revolution “ particularly the one that is now unfolding in the Permian Basin and Four Corners regions “ has helped local energy consumers increase disposable income, job growth and economic investment, plus revitalize communities.

CEAs analysis also found that New Mexicos oil and gas industry has a $12.8 billion total economic impact and provides more than 100,000 jobs statewide, employing one in every eight New Mexicans, directly or indirectly. In addition, New Mexico receives about $2 billion annually via severance and property taxes, royalties from production on state and federal lands, and rental income included, the Legislative Finance Committee reports.

Additional highlights from the report include:

  • Sales and income taxes on oil and gas drilling and service activity generate an additional $300 million for the state.
  • Based on the production in any given year, oil and gas production revenue make up 15 to 25 percent of New Mexicos total general fund revenue and is used to fund state environmental improvements and municipal services including public schools and hospitals.
  • In FY 2017, the states oil and gas sector provided $711 million to public schools and almost $223 million to colleges and universities.
  • The agricultural industry spent nearly $90 million for fuels and oils and $49.6 million on electricity to power farm equipment, manufacture fertilizer and transport products.
  • On average, each New Mexico resident spent $3,088 on energy-related needs like fuel and electricity in 2016. These expenses ate up at least a quarter of take-home pay for the roughly 19.6 percent of New Mexicans living at or below the poverty marker.

Despite these benefits “ which help residents affordably light and heat their homes and power and charge their electronics and allow farmers to fertilize and harvest their crops cost-effectively “ New Mexicos energy resources and critical pipeline network remain under attack by out-of-state activists, despite cleaner-burning natural gass well-known environmental benefits, CEA President David Holt said. These anti-development efforts lack solutions to help meet consumer demand and threaten our environmental goals.

Holt added: With the savings that have occurred in recent years, New Mexico policymakers, regulators and leaders must continue to come together in support of local energy production and infrastructure that will help the state thrive and ensure hardworking families, seniors, households, and small businesses have the low-cost energy they need to reduce expenses, find work and improve their communities.

To view the report, click here.

About Consumer Energy Alliance

Consumer Energy Alliance (CEA) brings together families, farmers, small businesses, distributors, producers and manufacturers to support America’s energy future. With more than 500,000 members nationwide, our mission is to help ensure stable prices and energy security for households across the country. We believe energy development is something that touches everyone in our nation, and thus it is necessary for all of us to actively engage in the conversation about how we develop our diverse energy resources and energy’s importance to the economy. Learn more at

Consumer Energy Alliance
Emily Haggstrom, 720-582-0242
[email protected]