FGGAM NEWS received this news release from NM Congressman Steve Pearce: 
OBAMA ADMINISTRATION ONCE AGAIN ATTACKS NEW MEXICO WITH OVER-THE-TOP REGULATION
Washington, DC (November 15, 2016) Today, the Obama Administration finalized a new rule increasing the regulations for venting and flaring from oil and gas wells on federal lands. The rule will have severe economic impacts in New Mexico. Congressman Pearce issued the following statement in response to the rule:
“This rule is a direct attack on the state of New Mexico. The Administration’s claim that this rule is a ‘fair return’ to taxpayers is completely false. In fact, this rule will make thousands of wells uneconomical: crushing businesses, killing jobs, and decreasing production. This action will result in reduced royalties for the State of New Mexico, which will harm funding for all aspects of New Mexicans services from schools to hospitals, and law enforcement. At the same time, this rule will create higher electricity bills for New Mexican families – making families choose between making ends meet and keeping the heat on.
“If the Administration really wanted to accomplish these goals it would expedite the permitting process to create natural gas pipelines and processing facilities, which would capture and transport this resource. Instead, the Obama Administration decided to bow to radical special interest groups who care more about killing the oil and gas industry than protecting hardworking American’s livelihoods. I will continue to fight this regulation this year and with the Trump Administration,” said Pearce.
BACKGROUND: In fiscal year 2014, 35% of the State of New Mexico’s general fund revenues were attributed to oil and gas production in the state. Conservative estimates of the rule predict that at least three-fourths of marginal oil wells will be shut in and 6,173,606 barrels of oil will be lost while half of the marginal natural gas wells on federal lands will be shut in and 42,060,100 mcf of gas production will be lost. This loss of production will lead to a massive shortfall in the state’s budget.
