Bill > HJM3

This Joint Memorial is a formal request from the New Mexico Legislature to the President of the United States, Joe Biden, asking him to lift the temporary suspension on issuing new permits for oil and gas leasing and drilling on federal lands. The memorial highlights that this suspension, which initially lasted sixty days and began in January 2021, significantly impacts states like New Mexico that rely heavily on revenue from oil and gas extraction on public lands, which accounts for about a quarter of the nation's production. The document emphasizes the critical role of the oil and gas industry in New Mexico's economy, providing over forty percent of the state's budget revenues and tens of thousands of jobs, and warns that restricting development could lead to substantial job losses and reduced funding for essential public services.