SANTA FE—The Senate Finance Committee today heard testimony from the Energy, Minerals, and Natural Resources Department regarding its budgetary and legislative proposals. A lengthy discussion ensued regarding the Department's proposed legislation (House Bill 133) to amend the Oil and Gas Act and institute new regulations.

Following the hearing, Senator William Sharer (R-Farmington) and Senator Crystal Brantley (R-Elephant Butte) released the following statements:

"These oil and gas-killing regulations continue to stand on thin science and thick rhetoric," added Senator Brantley. "Not even the federal government has instituted some of these measures and it is particularly troubling that the department refused to provide any factual numbers on how these unnecessary changes will impact New Mexico's revenue stream. As a legislator and member of the Senate Finance Committee, I have a responsibility for the state's budget, and I urge my colleagues to reject this and any other bill that jeopardizes our financial viability."

"New Mexico is, quite literally, powered by our energy industry," said Senator Sharer. "The Governor and her administration claim to ‘appreciate' the impact of the industry on our state, but too often, they fail to recognize its impact beyond funding our state coffers. Clean, affordable, and reliable energy heats our homes, it gets us to work, and it is in every fiber of our modern society. Thanks to major investments by the industry, we are now producing the cleanest energy in the cleanest way possible. We should embrace that instead of trying to cut off the hand that feeds us."