With oil production nearing 900,000 barrels per day, New Mexico is set to blow past the 300 million barrel mark by the end of the year. That’s almost double the 2017 figures of 173 million barrels annually. A September ICF report estimates production could increase by another 300% over the next decade, generating a whopping $8 billion in annual revenue for the state by 2030. That’s nearly four times more than the $2.2 billion the government collected from industry activities in fiscal year 2018. Read more HERE.
This unprecedented increase in production has put a strain on the housing and infrastructure of oil boom towns like Carlsbad, Hobbs and Artesia. New Mexico Environmental Department has issued its first round of notices of violation for the “man camps” throughout Eddy County for not complying with waste management regulations as the region struggles to meet the demand for worker housing. Read more HERE.