HOUSE MEMORIAL 65

49th legislature - STATE OF NEW MEXICO - first session, 2009

INTRODUCED BY

Keith J. Gardner

A MEMORIAL

RECOGNIZING THE MANY CONTRIBUTIONS OF THE OIL AND GAS INDUSTRY TO THE STATE OF NEW MEXICO, ITS RESIDENTS AND ITS INSTITUTIONS AND DECLARING FEBRUARY 28, 2009 AS "OIL AND GAS INDUSTRY DAY" AT THE HOUSE OF REPRESENTATIVES.

     WHEREAS, the oil and gas industry is a backbone industry for the state of New Mexico; and

     WHEREAS, New Mexico ranks fourth in the United States in its reserves of oil at seven hundred eighteen million barrels; and

     WHEREAS, in recent years, New Mexico has had more than fifty-six thousand wells producing oil; and

     WHEREAS, the oil and gas industry provides nearly thirty thousand jobs, employing New Mexicans throughout the entire state; and

     WHEREAS, the state receives numerous taxes, royalties and revenues from the oil and gas industry each year; and

     WHEREAS, over the past few years, oil and gas revenues have contributed between fifteen and twenty-one percent of the state's general fund revenues, which amounts to a total of approximately one billion dollars ($1,000,000,000); and

     WHEREAS, the oil and gas industry has supported education through royalties paid into the land grant permanent fund; and

     WHEREAS, a strong and thriving oil and gas industry in New Mexico helps to fund the state's educational system, roads, public facilities, economy and other institutions;

     NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE STATE OF NEW MEXICO that February 28, 2009 be declared "Oil and Gas Industry Day" at the house of representatives; and

     BE IT FURTHER RESOLVED that heartfelt gratitude and deep appreciation be extended to the New Mexico oil and gas industry for its many contributions to the state.

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