New Mexico Warns That Green Goals Will Stymie Oil Revenue

New Mexico is evaluating new oil and gas drilling restrictions that have the potential to impact production and revenue in the coming years, according to a new study released this week by New Mexico's chief economist. Proposed setbacks, aimed at limiting the proximity of wells to residential, educational, and environmental areas, could reduce future output by 5.4%, equating to about 12.5 million barrels of oil lost in the first year and over 35 million barrels by the early 2030s. This potential reduction would peak at an estimated $4.5 billion…