New Mexico to share in federal energy revenues

money

ALBUQUERQUE (AP) – Oil and gas development and mineral production on federal and tribal lands in New Mexico have netted nearly a half-billion dollars in revenues for the state.

The U.S. Interior Department announced this week that more than three dozen states, 34 American Indian tribes, numerous counties and thousands of individual Indian mineral owners are getting disbursements from energy development during the last fiscal year.

New Mexico’s share is $496 million, second behind Wyoming’s $886 million.

Officials with the Office of Natural Resource Revenues say the money comes from traditional energy development as well as renewable sources. It goes toward public education and meeting local infrastructure needs.

Officials say the federal Reclamation Fund, the Land and Water Conservation Fund and the Historic Preservation Fund also benefit.

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