SENATE MEMORIAL 3

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

INTRODUCED BY

William E. Sharer

A MEMORIAL

REQUESTING THE GOVERNOR TO PROMOTE AND FACILITATE THE PROGRESS OF THE OIL AND GAS INDUSTRY IN NEW MEXICO.

     WHEREAS, the oil and gas industry in New Mexico contributed one billion two hundred thirty million dollars ($1,230,000,000) to the state general fund and a total of two billion two hundred fifty million dollars ($2,250,000,000) to all state funds; and

     WHEREAS, fifteen thousand New Mexicans are directly employed by the oil and gas industry in New Mexico with an average annual salary of sixty-six thousand seven hundred dollars ($66,700); and

     WHEREAS, an estimated thirteen thousand to seventeen thousand additional indirect service-sector jobs are created by the oil and gas industry in New Mexico; and

     WHEREAS, the revenues collected from the oil and gas industry in New Mexico help fund the state's schools, roads and public facilities; and

     WHEREAS, the oil and gas industry in New Mexico is the state's leading educational supporter and provides over ninety percent of all school capital investment through the permanent school fund; and

     WHEREAS, ten of New Mexico's counties currently produce oil or natural gas or both; and

     WHEREAS, the New Mexico oil and gas industry also affects the lives of people nationwide, producing more than six percent of our nation's natural gas and more than three percent of our nation's oil; and

     WHEREAS, oil and natural gas supply sixty-five percent of the energy used every day in the nation;

     NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF NEW MEXICO that the governor be requested to initiate policies to promote and facilitate the progress of the oil and gas industry in New Mexico; and

     BE IT FURTHER RESOLVED that a copy of this memorial be transmitted to the governor.

- 2 -